Toast, Inc. $TOST Shares Acquired by Candriam S.C.A.

Candriam S.C.A. lifted its position in Toast, Inc. (NYSE:TOST) by 385.0% in the second quarter, Holdings Channel reports. The firm owned 543,155 shares of the company’s stock after acquiring an additional 431,172 shares during the period. Candriam S.C.A.’s holdings in Toast were worth $24,057,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds have also recently added to or reduced their stakes in the company. Ameritas Advisory Services LLC purchased a new stake in Toast in the second quarter valued at approximately $31,000. REAP Financial Group LLC grew its position in shares of Toast by 173.3% during the second quarter. REAP Financial Group LLC now owns 798 shares of the company’s stock worth $35,000 after acquiring an additional 506 shares during the last quarter. SBI Securities Co. Ltd. increased its holdings in shares of Toast by 29.2% in the 1st quarter. SBI Securities Co. Ltd. now owns 1,257 shares of the company’s stock valued at $42,000 after acquiring an additional 284 shares during the period. Motco acquired a new position in shares of Toast in the 2nd quarter valued at $44,000. Finally, Cullen Frost Bankers Inc. raised its position in Toast by 1,383.8% in the 2nd quarter. Cullen Frost Bankers Inc. now owns 1,009 shares of the company’s stock valued at $45,000 after purchasing an additional 941 shares during the last quarter. Hedge funds and other institutional investors own 82.91% of the company’s stock.

Insider Activity at Toast

In related news, CFO Elena Gomez sold 2,021 shares of the business’s stock in a transaction dated Tuesday, November 4th. The shares were sold at an average price of $35.54, for a total transaction of $71,826.34. Following the sale, the chief financial officer owned 151,463 shares of the company’s stock, valued at approximately $5,382,995.02. The trade was a 1.32% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, CRO Jonathan Vassil sold 1,442 shares of the company’s stock in a transaction dated Tuesday, November 4th. The stock was sold at an average price of $35.54, for a total transaction of $51,248.68. Following the transaction, the executive owned 71,424 shares in the company, valued at $2,538,408.96. The trade was a 1.98% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. In the last ninety days, insiders sold 62,259 shares of company stock worth $2,299,020. 12.14% of the stock is currently owned by insiders.

Toast Trading Down 4.3%

Shares of TOST stock opened at $36.71 on Friday. The stock has a 50 day simple moving average of $37.89 and a 200-day simple moving average of $41.44. The company has a market cap of $18.91 billion, a price-to-earnings ratio of 85.37 and a beta of 1.94. Toast, Inc. has a 12-month low of $28.12 and a 12-month high of $49.66.

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

Analyst Ratings Changes

Several brokerages have issued reports on TOST. Robert W. Baird lowered their price objective on shares of Toast from $48.00 to $36.00 and set a “neutral” rating on the stock in a research report on Monday, October 6th. JPMorgan Chase & Co. decreased their target price on shares of Toast from $52.00 to $43.00 and set a “neutral” rating for the company in a research note on Wednesday, November 5th. Citigroup raised Toast to a “strong-buy” rating in a report on Thursday, October 23rd. DA Davidson set a $42.00 price objective on Toast in a research note on Wednesday, November 5th. Finally, Keefe, Bruyette & Woods lowered their target price on Toast from $50.00 to $42.00 and set a “market perform” rating on the stock in a research note on Wednesday, October 1st. Two equities research analysts have rated the stock with a Strong Buy rating, twelve have issued a Buy rating and ten have assigned a Hold rating to the company. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $45.45.

Toast Company Profile

Toast, Inc operates a cloud-based digital technology platform for the restaurant industry in the United States, Ireland, and India. The company offers software products for restaurant operations and point of sale, such as Toast POS, Toast now, multi-location management, kitchen display system, Toast mobile order and pay, Toast catering and events, Toast invoicing, Toast tables, and restaurant retail; and hardware products, including Toast flex, Toast flex for guest, Toast go 2, Toast tap, kiosks, and Delphi by Toast.