Korea Investment CORP Lowers Stock Position in Toast, Inc. $TOST

Korea Investment CORP lowered its position in shares of Toast, Inc. (NYSE:TOST) by 34.3% in the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 155,704 shares of the company’s stock after selling 81,164 shares during the quarter. Korea Investment CORP’s holdings in Toast were worth $5,165,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also added to or reduced their stakes in the company. Wayfinding Financial LLC purchased a new position in Toast during the first quarter valued at $34,000. Piscataqua Savings Bank lifted its position in Toast by 57.1% during the first quarter. Piscataqua Savings Bank now owns 1,100 shares of the company’s stock valued at $36,000 after buying an additional 400 shares during the period. West Branch Capital LLC lifted its position in Toast by 862.1% during the first quarter. West Branch Capital LLC now owns 1,116 shares of the company’s stock valued at $37,000 after buying an additional 1,000 shares during the period. SBI Securities Co. Ltd. lifted its position in Toast by 29.2% during the first quarter. SBI Securities Co. Ltd. now owns 1,257 shares of the company’s stock valued at $42,000 after buying an additional 284 shares during the period. Finally, Signaturefd LLC lifted its position in Toast by 227.1% during the first quarter. Signaturefd LLC now owns 1,472 shares of the company’s stock valued at $49,000 after buying an additional 1,022 shares during the period. Hedge funds and other institutional investors own 82.91% of the company’s stock.

Wall Street Analysts Forecast Growth

TOST has been the subject of several analyst reports. Wall Street Zen upgraded Toast from a “hold” rating to a “buy” rating in a report on Saturday, August 9th. BMO Capital Markets raised their price target on Toast from $44.00 to $45.00 and gave the company an “outperform” rating in a report on Monday, May 12th. Truist Financial raised their price target on Toast from $48.00 to $50.00 and gave the company a “buy” rating in a report on Thursday, July 17th. Wells Fargo & Company initiated coverage on Toast in a report on Wednesday, July 16th. They set a “buy” rating for the company. Finally, Jefferies Financial Group raised their price target on Toast from $50.00 to $54.00 and gave the company a “buy” rating in a report on Friday, July 18th. Fifteen equities research analysts have rated the stock with a Buy rating and eleven have issued a Hold rating to the stock. Based on data from MarketBeat, Toast presently has a consensus rating of “Moderate Buy” and an average price target of $45.54.

Toast Stock Performance

NYSE TOST opened at $43.9010 on Friday. The company has a market capitalization of $22.39 billion, a price-to-earnings ratio of 129.12 and a beta of 2.01. The stock has a 50-day moving average of $44.76 and a 200 day moving average of $40.21. Toast, Inc. has a one year low of $22.91 and a one year high of $49.66.

Toast (NYSE:TOST) last announced its earnings results on Tuesday, August 5th. The company reported $0.13 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.23 by ($0.10). The firm had revenue of $1.55 billion during the quarter, compared to analysts’ expectations of $1.52 billion. Toast had a return on equity of 14.19% and a net margin of 4.07%.The company’s revenue for the quarter was up 24.8% on a year-over-year basis. During the same period in the previous year, the business posted $0.02 earnings per share. On average, equities analysts predict that Toast, Inc. will post 0.39 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other Toast news, Director Richard Kent Bennett sold 9,712 shares of the firm’s stock in a transaction dated Tuesday, June 10th. The stock was sold at an average price of $43.14, for a total value of $418,975.68. Following the transaction, the director directly owned 534,167 shares of the company’s stock, valued at approximately $23,043,964.38. This trade represents a 1.79% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, CFO Elena Gomez sold 34,170 shares of the firm’s stock in a transaction dated Wednesday, July 2nd. The stock was sold at an average price of $42.56, for a total value of $1,454,275.20. Following the completion of the transaction, the chief financial officer directly owned 139,357 shares in the company, valued at $5,931,033.92. The trade was a 19.69% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders sold 405,554 shares of company stock valued at $17,333,686. 12.14% of the stock is currently owned by company insiders.

About Toast

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.