KBC Group NV decreased its position in shares of Toast, Inc. (NYSE:TOST – Free Report) by 84.5% during the 1st quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 108,282 shares of the company’s stock after selling 589,262 shares during the period. KBC Group NV’s holdings in Toast were worth $2,870,000 as of its most recent SEC filing.
A number of other institutional investors and hedge funds also recently added to or reduced their stakes in TOST. SG Americas Securities LLC grew its position in Toast by 285.3% during the 4th 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 last quarter. Capelight Capital Asset Management LP purchased a new stake in shares of Toast in the fourth quarter valued at about $2,131,000. Robeco Institutional Asset Management B.V. raised its holdings in shares of Toast by 6.3% in the fourth 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. boosted its stake in shares of Toast by 206.7% during the fourth quarter. Lecap Asset Management Ltd. now owns 59,123 shares of the company’s stock worth $2,099,000 after buying an additional 39,847 shares during the period. Finally, Campbell Capital Management Inc. acquired a new stake in shares of Toast during the fourth quarter worth about $9,812,000. Hedge funds and other institutional investors own 82.91% of the company’s stock.
Insider Activity at Toast
In other Toast news, CEO Aman Narang sold 14,365 shares of the business’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 transaction of $414,430.25. Following the transaction, the chief executive officer owned 70,451 shares in the company, valued at approximately $2,032,511.35. The trade was a 16.94% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, CFO Elena Gomez sold 11,605 shares of the 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 $334,804.25. Following the transaction, the chief financial officer directly owned 185,150 shares of the company’s stock, valued at approximately $5,341,577.50. This trade represents a 5.90% decrease in their ownership of the stock. 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. Insiders have sold a total of 159,265 shares of company stock worth $4,278,832 in the last three months. 10.03% of the stock is currently owned by corporate insiders.
Toast Stock Up 2.3%
Toast (NYSE:TOST – Get Free Report) last posted its quarterly earnings results on Thursday, May 7th. The company reported $0.20 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.28 by ($0.08). The firm had revenue of $1.63 billion for the quarter, compared to analysts’ expectations of $1.63 billion. Toast had a return on equity of 20.86% and a net margin of 6.39%.The company’s revenue for the quarter was up 21.9% on a year-over-year basis. During the same period in the prior year, the company earned $0.09 earnings per share. On average, research analysts forecast that Toast, Inc. will post 0.97 EPS for the current year.
Analyst Upgrades and Downgrades
TOST has been the topic of several recent research reports. The Goldman Sachs Group upgraded Toast from a “neutral” rating to a “buy” rating and set a $36.00 price target on the stock in a research report on Thursday, July 9th. Oppenheimer reaffirmed an “outperform” rating and set a $36.00 price objective on shares of Toast in a research report on Friday, May 8th. Loop Capital started coverage on Toast in a research note on Tuesday, March 31st. They issued a “hold” rating and a $26.00 target price on the stock. DA Davidson lowered their target price on Toast from $33.00 to $28.00 and set a “neutral” rating on the stock in a research note on Tuesday, May 12th. Finally, Mizuho cut their price target on Toast from $45.00 to $38.00 and set an “outperform” rating for the company in a research note on Tuesday, May 12th. Two research analysts have rated the stock with a Strong Buy rating, sixteen have assigned a Buy rating and eight have assigned a Hold rating to the company’s stock. Based on data from MarketBeat.com, Toast currently has a consensus rating of “Moderate Buy” and an average target price of $37.08.
Read Our Latest Research Report on TOST
Toast Company 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.
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