Hsbc Holdings PLC Has $7.54 Million Position in Toast, Inc. $TOST

Hsbc Holdings PLC boosted its holdings in Toast, Inc. (NYSE:TOST) by 56.9% during the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 284,510 shares of the company’s stock after acquiring an additional 103,139 shares during the quarter. Hsbc Holdings PLC owned 0.06% of Toast worth $7,539,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in TOST. SG Americas Securities LLC increased its stake in shares of Toast by 285.3% in the fourth quarter. SG Americas Securities LLC now owns 288,286 shares of the company’s stock worth $10,237,000 after purchasing an additional 213,459 shares during the period. Capelight Capital Asset Management LP bought a new stake in Toast during the 4th quarter valued at approximately $2,131,000. Robeco Institutional Asset Management B.V. grew its holdings in Toast by 6.3% in the 4th quarter. Robeco Institutional Asset Management B.V. now owns 972,230 shares of the company’s stock valued at $34,524,000 after buying an additional 57,512 shares during the last quarter. Lecap Asset Management Ltd. grew its holdings in Toast by 206.7% in the 4th quarter. Lecap Asset Management Ltd. now owns 59,123 shares of the company’s stock valued at $2,099,000 after buying an additional 39,847 shares during the last quarter. Finally, Campbell Capital Management Inc. bought a new position in Toast in the 4th quarter worth approximately $9,812,000. Institutional investors own 82.91% of the company’s stock.

Toast Stock Performance

TOST opened at $28.38 on Friday. The firm’s 50-day simple moving average is $26.43 and its 200-day simple moving average is $28.04. Toast, Inc. has a twelve month low of $22.26 and a twelve month high of $49.66. The firm has a market cap of $14.64 billion, a price-to-earnings ratio of 43.66 and a beta of 1.74.

Toast (NYSE:TOST) last released its quarterly earnings results on Thursday, May 7th. The company reported $0.20 EPS for the quarter, missing analysts’ consensus estimates of $0.28 by ($0.08). The firm had revenue of $1.63 billion during the quarter, compared to analyst estimates of $1.63 billion. Toast had a net margin of 6.39% and a return on equity of 20.86%. Toast’s quarterly revenue was up 21.9% on a year-over-year basis. During the same quarter last year, the firm earned $0.09 earnings per share. As a group, sell-side analysts anticipate that Toast, Inc. will post 0.97 EPS for the current fiscal year.

Analysts Set New Price Targets

Several research analysts have recently issued reports on the stock. DA Davidson dropped their price objective on shares of Toast from $33.00 to $28.00 and set a “neutral” rating on the stock in a report on Tuesday, May 12th. Oppenheimer reiterated an “outperform” rating and issued a $36.00 target price on shares of Toast in a research note on Friday, May 8th. Barclays began coverage on Toast in a research report on Tuesday, July 7th. They set an “overweight” rating and a $35.00 target price on the stock. Citigroup lowered their price target on Toast from $42.00 to $36.00 and set a “buy” rating on the stock in a research note on Friday, May 8th. Finally, Morgan Stanley set a $45.00 price target on Toast in a report on Friday, May 8th. Two analysts have rated the stock with a Strong Buy rating, sixteen have assigned a Buy rating and eight have issued a Hold rating to the company’s stock. Based on data from MarketBeat.com, Toast presently has an average rating of “Moderate Buy” and an average target price of $36.96.

Insider Transactions at Toast

In other Toast news, CFO Elena Gomez sold 11,605 shares of the business’s stock in a transaction on Thursday, July 2nd. The stock was sold at an average price of $28.85, for a total value of $334,804.25. Following the transaction, the chief financial officer owned 185,150 shares of the company’s stock, valued at approximately $5,341,577.50. The trade was a 5.90% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, President Stephen Fredette sold 9,146 shares of the stock in a transaction on Thursday, July 2nd. The stock was sold at an average price of $28.85, for a total value of $263,862.10. Following the sale, the president owned 931,449 shares in the company, valued at $26,872,303.65. The trade was a 0.97% decrease in their position. The disclosure for this sale is available in the SEC filing. The sale was made to cover tax withholding obligations related to the vesting of equity awards. In the last quarter, insiders have sold 159,265 shares of company stock worth $4,278,832. 10.03% of the stock is owned by company insiders.

Toast Profile

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.