Stephens Investment Management Group LLC Has $63.57 Million Holdings in Toast, Inc. $TOST

Stephens Investment Management Group LLC decreased its holdings in Toast, Inc. (NYSE:TOST) by 8.0% during the 3rd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 1,741,177 shares of the company’s stock after selling 151,064 shares during the period. Stephens Investment Management Group LLC’s holdings in Toast were worth $63,570,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently made changes to their positions in the business. NewEdge Advisors LLC increased its holdings in shares of Toast by 1,555.5% during the 1st quarter. NewEdge Advisors LLC now owns 17,432 shares of the company’s stock worth $578,000 after acquiring an additional 16,379 shares during the last quarter. Strs Ohio acquired a new position in shares of Toast in the first quarter valued at $920,000. Parallel Advisors LLC raised its position in shares of Toast by 110.2% in the second quarter. Parallel Advisors LLC now owns 5,658 shares of the company’s stock valued at $251,000 after purchasing an additional 2,966 shares during the period. Sumitomo Mitsui DS Asset Management Company Ltd lifted its stake in shares of Toast by 30.4% during the 2nd quarter. Sumitomo Mitsui DS Asset Management Company Ltd now owns 49,907 shares of the company’s stock worth $2,210,000 after buying an additional 11,624 shares during the last quarter. Finally, Secure Asset Management LLC bought a new stake in shares of Toast during the 2nd quarter worth about $223,000. 82.91% of the stock is currently owned by institutional investors.

Toast Price Performance

Shares of NYSE TOST opened at $33.60 on Friday. The business has a fifty day moving average price of $35.29 and a two-hundred day moving average price of $39.36. The stock has a market capitalization of $17.30 billion, a PE ratio of 78.14 and a beta of 1.93. Toast, Inc. has a fifty-two week low of $28.12 and a fifty-two week high of $49.66.

Toast (NYSE:TOST) last issued its quarterly earnings results on Tuesday, November 4th. The company reported $0.16 EPS for the quarter, missing analysts’ consensus estimates of $0.24 by ($0.08). The company had revenue of $1.63 billion during the quarter, compared to the consensus estimate of $1.58 billion. Toast had a return on equity of 15.77% and a net margin of 4.68%.The firm’s revenue for the quarter was up 25.1% on a year-over-year basis. During the same quarter in the previous year, the business posted $0.07 EPS. On average, equities analysts expect that Toast, Inc. will post 0.39 EPS for the current year.

Insider Transactions at Toast

In other news, CEO Aman Narang sold 8,591 shares of the business’s stock in a transaction that occurred on Monday, January 5th. The shares were sold at an average price of $34.38, for a total value of $295,358.58. Following the completion of the transaction, the chief executive officer directly owned 338,850 shares in the company, valued at approximately $11,649,663. The trade was a 2.47% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, General Counsel Brian R. Elworthy sold 3,303 shares of the company’s stock in a transaction that occurred on Monday, January 5th. The stock was sold at an average price of $34.38, for a total transaction of $113,557.14. Following the sale, the general counsel directly owned 235,757 shares of the company’s stock, valued at approximately $8,105,325.66. This trade represents a 1.38% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Over the last quarter, insiders sold 102,595 shares of company stock worth $3,634,737. Corporate insiders own 12.14% of the company’s stock.

Analyst Ratings Changes

Several research analysts have weighed in on TOST shares. UBS Group reissued a “buy” rating on shares of Toast in a report on Thursday, December 18th. Wolfe Research lowered Toast from an “outperform” rating to a “peer perform” rating in a research note on Thursday, January 8th. Wall Street Zen raised Toast from a “hold” rating to a “buy” rating in a report on Friday, October 3rd. The Goldman Sachs Group reduced their price target on Toast from $51.00 to $41.00 and set a “neutral” rating for the company in a research note on Monday, October 13th. Finally, Stephens set a $42.00 price objective on Toast in a research report on Friday. Two equities research analysts have rated the stock with a Strong Buy rating, thirteen have issued a Buy rating and nine have assigned a Hold rating to the company’s stock. Based on data from MarketBeat.com, Toast has a consensus rating of “Moderate Buy” and a consensus price target of $45.13.

About Toast

Toast, Inc (NYSE: TOST) is a technology company that builds a cloud-based platform for restaurants and other foodservice businesses. Headquartered in Boston, Massachusetts, Toast offers integrated point-of-sale (POS) systems and a suite of software and hardware designed to streamline front-of-house and back-of-house operations. The company went public in 2021 and has positioned itself as a vertically integrated provider for the restaurant industry.

Toast’s product portfolio includes touchscreen POS terminals and handheld order-and-pay devices, kitchen display systems, and peripherals tailored for high-volume foodservice environments.