Royal Bank of Canada decreased its stake in Toast, Inc. (NYSE:TOST – Free Report) by 11.5% in the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 611,957 shares of the company’s stock after selling 79,628 shares during the period. Royal Bank of Canada owned approximately 0.12% of Toast worth $16,223,000 as of its most recent SEC filing.
A number of other large investors have also modified their holdings of the stock. Jennison Associates LLC lifted its position in Toast by 1.0% during the 4th quarter. Jennison Associates LLC now owns 15,157,955 shares of the company’s stock worth $538,259,000 after acquiring an additional 157,394 shares in the last quarter. Morgan Stanley increased its stake in Toast by 6.7% during the 4th quarter. Morgan Stanley now owns 10,372,626 shares of the company’s stock worth $368,332,000 after buying an additional 653,487 shares during the period. State Street Corp lifted its holdings in Toast by 3.0% in the 4th quarter. State Street Corp now owns 9,820,594 shares of the company’s stock worth $348,729,000 after buying an additional 282,282 shares in the last quarter. XN LP lifted its holdings in Toast by 50.8% in the 4th quarter. XN LP now owns 8,988,386 shares of the company’s stock worth $319,178,000 after buying an additional 3,029,856 shares in the last quarter. Finally, Geode Capital Management LLC boosted its position in Toast by 2.0% in the 4th quarter. Geode Capital Management LLC now owns 8,675,056 shares of the company’s stock valued at $307,214,000 after buying an additional 169,230 shares during the last quarter. Institutional investors and hedge funds own 82.91% of the company’s stock.
Insider Activity
In related news, CEO Aman Narang sold 14,365 shares of the firm’s stock in a transaction that occurred on Thursday, July 2nd. The stock was sold at an average price of $28.85, for a total value of $414,430.25. Following the sale, the chief executive officer owned 70,451 shares of the company’s stock, valued at approximately $2,032,511.35. This trade represents a 16.94% decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, CRO Jonathan Vassil sold 14,280 shares of the firm’s stock in a transaction on Monday, August 3rd. The shares were sold at an average price of $32.89, for a total value of $469,669.20. Following the completion of the sale, the executive owned 69,966 shares in the company, valued at $2,301,181.74. The trade was a 16.95% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders have sold 173,545 shares of company stock valued at $4,748,501 over the last quarter. Corporate insiders own 10.03% of the company’s stock.
Wall Street Analyst Weigh In
Read Our Latest Stock Report on Toast
Key Headlines Impacting Toast
Here are the key news stories impacting Toast this week:
- Positive Sentiment: Revenue exceeded expectations and growth accelerated. Toast reported second-quarter 2026 revenue of $1.91 billion, above the $1.87 billion consensus and 23.1% higher year over year. The company also added a record 9,500 net locations, supporting confidence in continued customer adoption. Toast surprises with Q2 sales
- Positive Sentiment: Management is investing its upside in AI and expansion. Toast raised its 2026 outlook and said it will reinvest in artificial intelligence, product development and geographic expansion. Recurring gross profit streams reportedly grew 28%, reinforcing the long-term scalability thesis. Toast Q2 earnings call centers on AI-led reinvestment
- Positive Sentiment: Analysts raised price targets following the results. BMO lifted its target to $40 and assigned an outperform rating, Piper Sandler raised its target to $39 with an overweight rating, and Needham increased its target to $45 with a buy rating. These actions indicate improving confidence in Toast’s growth prospects. Analyst price-target changes
- Neutral Sentiment: Options activity suggests increased speculative interest. Investors purchased 20,735 Toast call options, about 34% above typical call volume. This may reflect bullish positioning, although options activity alone does not establish a change in fundamentals.
- Negative Sentiment: Adjusted earnings missed estimates. Toast reported $0.26 in EPS versus the $0.32 consensus, despite improving from $0.13 a year earlier. The profit shortfall could temper the market’s response if investors focus on near-term margins and execution. Toast Q2 earnings metrics
- Negative Sentiment: Valuation is becoming a concern. One analyst recommended trimming the position after the rally, arguing that expectations may be getting ahead of Toast’s fundamentals. With the stock trading at a relatively elevated earnings multiple, further gains may depend on sustained growth and improved profitability. Toast valuation downgrade
- Negative Sentiment: The CRO sold shares. Chief Revenue Officer Jonathan Vassil sold 14,280 shares worth approximately $469,700. The sale occurred under a pre-arranged Rule 10b5-1 plan, making it a weaker bearish signal than discretionary insider selling. Toast insider sale
Toast Price Performance
TOST stock opened at $34.85 on Friday. The firm has a market cap of $17.98 billion, a price-to-earnings ratio of 44.69 and a beta of 1.72. Toast, Inc. has a 1-year low of $22.26 and a 1-year high of $46.81. The firm has a fifty day moving average price of $28.28 and a two-hundred day moving average price of $27.85.
Toast (NYSE:TOST – Get Free Report) last posted its quarterly earnings results on Tuesday, August 4th. The company reported $0.26 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.32 by ($0.06). Toast had a return on equity of 23.90% and a net margin of 7.14%.The business had revenue of $1.91 billion during the quarter, compared to the consensus estimate of $1.87 billion. During the same quarter in the previous year, the business posted $0.13 earnings per share. The company’s quarterly revenue was up 23.1% compared to the same quarter last year. As a group, analysts expect that Toast, Inc. will post 0.97 EPS for the current fiscal year.
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.
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