Aviva PLC Boosts Stake in Toast, Inc. $TOST

Aviva PLC boosted its holdings in Toast, Inc. (NYSE:TOST) by 27.4% during the second quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 325,113 shares of the company’s stock after acquiring an additional 70,015 shares during the quarter. Aviva PLC’s holdings in Toast were worth $14,399,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently modified their holdings of the business. Los Angeles Capital Management LLC purchased a new position in shares of Toast during the second quarter worth about $2,629,000. Prospera Financial Services Inc bought a new stake in Toast during the second quarter valued at approximately $361,000. Savant Capital LLC grew its stake in Toast by 3.7% in the 2nd quarter. Savant Capital LLC now owns 10,147 shares of the company’s stock worth $449,000 after buying an additional 359 shares in the last quarter. Andra AP fonden increased its holdings in shares of Toast by 45.4% in the 2nd quarter. Andra AP fonden now owns 344,600 shares of the company’s stock worth $15,262,000 after buying an additional 107,600 shares during the last quarter. Finally, Resona Asset Management Co. Ltd. raised its position in shares of Toast by 16.3% during the 2nd quarter. Resona Asset Management Co. Ltd. now owns 140,319 shares of the company’s stock valued at $6,207,000 after buying an additional 19,707 shares in the last quarter. Hedge funds and other institutional investors own 82.91% of the company’s stock.

Toast Trading Down 1.7%

NYSE TOST opened at $37.52 on Wednesday. Toast, Inc. has a 1-year low of $28.12 and a 1-year high of $49.66. The stock has a 50-day moving average of $38.06 and a 200-day moving average of $41.49. The firm has a market cap of $19.32 billion, a PE ratio of 87.26 and a beta of 1.94.

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

Wall Street Analysts Forecast Growth

TOST has been the subject of several research reports. Royal Bank Of Canada set a $45.00 target price on shares of Toast in a research report on Wednesday, November 5th. Keefe, Bruyette & Woods dropped their price target on Toast from $50.00 to $42.00 and set a “market perform” rating for the company in a research note on Wednesday, October 1st. Canaccord Genuity Group upped their price objective on Toast from $48.00 to $54.00 and gave the stock a “buy” rating in a report on Wednesday, August 6th. Wall Street Zen raised Toast from a “hold” rating to a “buy” rating in a report on Friday, October 3rd. Finally, Jefferies Financial Group dropped their target price on Toast from $54.00 to $45.00 and set a “buy” rating for the company in a research report on Wednesday, November 5th. Two equities research analysts have rated the stock with a Strong Buy rating, twelve have given a Buy rating and ten have given a Hold rating to the stock. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus price target of $45.64.

Insider Buying and Selling

In other Toast news, President Stephen Fredette sold 7,550 shares of the firm’s stock in a transaction on Thursday, October 2nd. The shares were sold at an average price of $35.56, for a total value of $268,478.00. Following the sale, the president owned 898,475 shares of the company’s stock, valued at $31,949,771. This trade represents a 0.83% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Paul D. Bell sold 12,500 shares of the company’s stock in a transaction dated Thursday, August 21st. The shares were sold at an average price of $42.38, for a total transaction of $529,750.00. Following the transaction, the director directly owned 226,892 shares of the company’s stock, valued at approximately $9,615,682.96. This trade represents a 5.22% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold 62,259 shares of company stock valued at $2,299,020 over the last quarter. Company insiders own 12.14% of the company’s stock.

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.