Toast, Inc. $TOST Shares Sold by KBC Group NV

KBC Group NV decreased its holdings in Toast, Inc. (NYSE:TOST) by 84.5% in the 1st quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 108,282 shares of the company’s stock after selling 589,262 shares during the quarter. KBC Group NV’s holdings in Toast were worth $2,870,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently made changes to their positions in the business. NewEdge Advisors LLC lifted its holdings in Toast by 1,555.5% during the 1st quarter. NewEdge Advisors LLC now owns 17,432 shares of the company’s stock worth $578,000 after buying an additional 16,379 shares in the last quarter. Cerity Partners LLC grew its stake in shares of Toast by 24.0% in the second quarter. Cerity Partners LLC now owns 81,574 shares of the company’s stock worth $3,613,000 after acquiring an additional 15,774 shares in the last quarter. State Street Corp grew its stake in shares of Toast by 2.7% in the second quarter. State Street Corp now owns 9,212,889 shares of the company’s stock worth $408,039,000 after acquiring an additional 245,276 shares in the last quarter. Frontier Capital Management Co. LLC purchased a new stake in shares of Toast during the second quarter worth $4,479,000. Finally, Sei Investments Co. increased its position in shares of Toast by 24.6% during the second quarter. Sei Investments Co. now owns 1,030,007 shares of the company’s stock worth $45,619,000 after acquiring an additional 203,404 shares during the period. Institutional investors and hedge funds own 82.91% of the company’s stock.

Toast Trading Up 2.3%

Shares of TOST stock opened at $29.07 on Friday. The firm has a fifty day moving average price of $26.56 and a 200 day moving average price of $28.05. The company has a market cap of $15.00 billion, a P/E ratio of 44.72 and a beta of 1.74. Toast, Inc. has a 12 month low of $22.26 and a 12 month high of $49.66.

Toast (NYSE:TOST) last posted its quarterly earnings results on Thursday, May 7th. The company reported $0.20 earnings per share for the quarter, missing analysts’ consensus estimates of $0.28 by ($0.08). The business had revenue of $1.63 billion during the quarter, compared to analyst estimates of $1.63 billion. Toast had a net margin of 6.39% and a return on equity of 20.86%. The firm’s quarterly revenue was up 21.9% on a year-over-year basis. During the same quarter in the prior year, the business earned $0.09 earnings per share. On average, equities analysts forecast that Toast, Inc. will post 0.97 EPS for the current year.

Insider Buying and Selling at Toast

In other news, CFO Elena Gomez sold 11,605 shares of the firm’s stock in a transaction dated Thursday, July 2nd. The stock was sold at an average price of $28.85, for a total transaction of $334,804.25. Following the sale, the chief financial officer 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 position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, CEO Aman Narang sold 14,365 shares of the company’s stock in a transaction that occurred on Thursday, July 2nd. The shares were sold at an average price of $28.85, for a total value of $414,430.25. Following the completion of the transaction, the chief executive officer directly owned 70,451 shares of the company’s stock, valued at $2,032,511.35. This trade represents a 16.94% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. The sale was made to cover tax withholding obligations related to the vesting of equity awards. In the last ninety days, insiders have sold 159,265 shares of company stock worth $4,278,832. 10.03% of the stock is currently owned by corporate insiders.

Analysts Set New Price Targets

A number of research analysts recently issued reports on the company. Rothschild & Co Redburn reiterated a “neutral” rating and issued a $35.00 target price on shares of Toast in a report on Tuesday, May 12th. Zacks Research downgraded Toast from a “strong-buy” rating to a “hold” rating in a report on Tuesday, July 7th. DA Davidson cut their price target on Toast from $33.00 to $28.00 and set a “neutral” rating on the stock in a report on Tuesday, May 12th. Loop Capital initiated coverage on Toast in a research report on Tuesday, March 31st. They issued a “hold” rating and a $26.00 price target on the stock. Finally, Wall Street Zen cut Toast from a “buy” rating to a “hold” rating in a research note on Saturday, July 4th. Two investment analysts have rated the stock with a Strong Buy rating, sixteen have assigned a Buy rating and eight have given a Hold rating to the company. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average target price of $37.08.

Toast 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.