M&G PLC Buys New Shares in Toast, Inc. $TOST

M&G PLC purchased a new position in shares of Toast, Inc. (NYSE:TOST) during the 2nd quarter, Holdings Channel reports. The fund purchased 250,550 shares of the company’s stock, valued at approximately $11,024,000.

Other hedge funds also recently modified their holdings of the company. Jennison Associates LLC boosted its position in Toast by 331.0% during the second quarter. Jennison Associates LLC now owns 8,601,887 shares of the company’s stock valued at $380,978,000 after purchasing an additional 6,606,245 shares during the last quarter. Price T Rowe Associates Inc. MD boosted 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 valued at $777,978,000 after buying an additional 3,490,686 shares during the last quarter. 1832 Asset Management L.P. bought a new position in shares of Toast in the first quarter valued at $86,650,000. HMI Capital Management L.P. increased its holdings in Toast by 57.7% during the first quarter. HMI Capital Management L.P. now owns 5,203,183 shares of the company’s stock worth $172,590,000 after buying an additional 1,904,040 shares during the last quarter. Finally, Nuveen LLC acquired a new position in Toast during the first quarter worth $56,473,000. Institutional investors own 82.91% of the company’s stock.

Insider Buying and Selling at Toast

In other news, President Stephen Fredette sold 1,732 shares of the business’s stock in a transaction that occurred on Tuesday, November 4th. The shares were sold at an average price of $35.54, for a total value of $61,555.28. Following the transaction, the president owned 900,264 shares in the company, valued at approximately $31,995,382.56. The trade was a 0.19% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CFO Elena Gomez sold 2,021 shares of the company’s stock in a transaction on Tuesday, November 4th. The shares were sold at an average price of $35.54, for a total transaction of $71,826.34. Following the completion of the sale, the chief financial officer directly owned 151,463 shares in the company, valued at approximately $5,382,995.02. This represents a 1.32% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. In the last three months, insiders have sold 62,259 shares of company stock worth $2,299,020. Company insiders own 12.14% of the company’s stock.

Analysts Set New Price Targets

Several research analysts have recently weighed in on TOST shares. Wall Street Zen upgraded shares of Toast from a “hold” rating to a “buy” rating in a research note on Friday, October 3rd. Royal Bank Of Canada set a $45.00 price objective on shares of Toast in a report on Wednesday, November 5th. Truist Financial set a $47.00 target price on shares of Toast in a report on Friday, October 24th. Canaccord Genuity Group increased their price target on shares of Toast from $48.00 to $54.00 and gave the company a “buy” rating in a report on Wednesday, August 6th. Finally, Weiss Ratings reaffirmed a “hold (c)” rating on shares of Toast in a research report on Wednesday, October 8th. Two equities research analysts have rated the stock with a Strong Buy rating, twelve have given a Buy rating and ten have assigned a Hold rating to the stock. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average price target of $45.64.

Toast Stock Performance

NYSE TOST opened at $38.36 on Thursday. The firm’s fifty day moving average price is $37.98 and its two-hundred day moving average price is $41.47. Toast, Inc. has a fifty-two week low of $28.12 and a fifty-two week high of $49.66. The stock has a market cap of $19.75 billion, a PE ratio of 89.20 and a beta of 1.94.

Toast (NYSE:TOST) last posted its earnings results on Tuesday, November 4th. The company reported $0.16 EPS for the quarter, missing the consensus estimate of $0.24 by ($0.08). Toast had a return on equity of 15.77% and a net margin of 4.68%.The business had revenue of $1.63 billion for the quarter, compared to analyst estimates of $1.58 billion. During the same quarter in the prior year, the business earned $0.07 earnings per share. The firm’s quarterly revenue was up 25.1% on a year-over-year basis. As a group, sell-side analysts predict that Toast, Inc. will post 0.39 earnings per share for the current fiscal year.

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.