Union Bancaire Privee UBP SA Has $476,000 Stock Holdings in Toast, Inc. $TOST

Union Bancaire Privee UBP SA grew its holdings in Toast, Inc. (NYSE:TOST) by 109.9% in the second quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 11,194 shares of the company’s stock after buying an additional 5,862 shares during the quarter. Union Bancaire Privee UBP SA’s holdings in Toast were worth $476,000 as of its most recent filing with the SEC.

A number of other hedge funds also recently made changes to their positions in TOST. Vanguard Group Inc. grew its holdings in shares of Toast by 3.5% in the 1st quarter. Vanguard Group Inc. now owns 43,945,584 shares of the company’s stock worth $1,457,675,000 after purchasing an additional 1,471,352 shares during the last quarter. Price T Rowe Associates Inc. MD grew its holdings in shares of Toast by 17.5% in the 1st quarter. Price T Rowe Associates Inc. MD now owns 23,454,209 shares of the company’s stock worth $777,978,000 after purchasing an additional 3,490,686 shares during the last quarter. T. Rowe Price Investment Management Inc. grew its holdings in shares of Toast by 7.5% in the 1st quarter. T. Rowe Price Investment Management Inc. now owns 15,520,360 shares of the company’s stock worth $514,811,000 after purchasing an additional 1,082,958 shares during the last quarter. Sumitomo Mitsui Trust Group Inc. grew its holdings in shares of Toast by 2.9% in the 1st quarter. Sumitomo Mitsui Trust Group Inc. now owns 5,755,872 shares of the company’s stock worth $190,922,000 after purchasing an additional 160,088 shares during the last quarter. Finally, Principal Financial Group Inc. grew its holdings in shares of Toast by 14,258.8% in the 1st quarter. Principal Financial Group Inc. now owns 5,474,443 shares of the company’s stock worth $181,587,000 after purchasing an additional 5,436,317 shares during the last quarter. Institutional investors and hedge funds own 82.91% of the company’s stock.

Analysts Set New Price Targets

Several equities research analysts have recently weighed in on TOST shares. Wall Street Zen lowered shares of Toast from a “buy” rating to a “hold” rating in a report on Monday, September 22nd. Morgan Stanley upped their target price on shares of Toast from $50.00 to $54.00 and gave the stock an “overweight” rating in a report on Wednesday, August 6th. DA Davidson upped their target price on shares of Toast from $40.00 to $46.00 and gave the stock a “neutral” rating in a report on Tuesday, July 29th. Citigroup reaffirmed a “buy” rating on shares of Toast in a report on Wednesday, July 16th. Finally, Canaccord Genuity Group increased their price objective on shares of Toast from $48.00 to $54.00 and gave the stock a “buy” rating in a report on Wednesday, August 6th. Fifteen equities research analysts have rated the stock with a Buy rating and ten have assigned a Hold rating to the company’s stock. According to MarketBeat, the stock has an average rating of “Moderate Buy” and an average target price of $46.30.

Toast Trading Down 2.4%

Shares of NYSE TOST opened at $35.65 on Thursday. The firm has a market capitalization of $18.18 billion, a PE ratio of 104.85 and a beta of 1.94. Toast, Inc. has a 1 year low of $26.91 and a 1 year high of $49.66. The firm’s 50-day moving average is $42.81 and its 200-day moving average is $40.75.

Toast (NYSE:TOST) last issued 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 business had revenue of $1.55 billion during the quarter, compared to the consensus estimate of $1.52 billion. Toast had a net margin of 4.07% and a return on equity of 14.19%. The firm’s revenue for the quarter was up 24.8% compared to the same quarter last year. During the same period last year, the business posted $0.02 EPS. As a group, equities research analysts anticipate that Toast, Inc. will post 0.39 earnings per share for the current fiscal year.

Insider Buying and Selling

In related news, CEO Aman Narang sold 1,719 shares of the stock in a transaction that occurred on Monday, August 4th. The shares were sold at an average price of $48.38, for a total value of $83,165.22. Following the sale, the chief executive officer directly owned 304,300 shares in the company, valued at $14,722,034. This trade represents a 0.56% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, CFO Elena Gomez sold 2,006 shares of the stock in a transaction that occurred on Monday, August 4th. The shares were sold at an average price of $48.38, for a total transaction of $97,050.28. Following the completion of the sale, the chief financial officer owned 141,263 shares in the company, valued at $6,834,303.94. This represents a 1.40% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 20,423 shares of company stock worth $913,065. 12.14% of the stock is currently owned by company insiders.

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.