111,983 Shares in Toast, Inc. $TOST Acquired by Candriam S.C.A.

Key Points

• Candriam S.C.A. has acquired 111,983 shares of Toast, Inc. valued at approximately $3.71 million, reflecting significant institutional interest in the company.
• Toast's EPS for the latest quarter was reported at $0.13, missing the consensus estimate of $0.23, while quarterly revenue rose by 24.8% year-over-year.
• Analyst ratings are generally positive, with 15 analysts giving a Buy rating and a consensus target price of $45.54 for the stock.

Candriam S.C.A. bought a new position in shares of Toast, Inc. (NYSE:TOST - Free Report) during the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor bought 111,983 shares of the company's stock, valued at approximately $3,714,000.

A number of other hedge funds and other institutional investors have also bought and sold shares of TOST. Principal Financial Group Inc. increased its holdings in Toast by 14,258.8% during the 1st quarter. Principal Financial Group Inc. now owns 5,474,443 shares of the company's stock worth $181,587,000 after acquiring an additional 5,436,317 shares during the period. Voloridge Investment Management LLC increased its holdings in Toast by 898.8% during the 4th quarter. Voloridge Investment Management LLC now owns 2,858,720 shares of the company's stock worth $104,200,000 after acquiring an additional 2,572,503 shares during the period. Two Sigma Investments LP increased its holdings in Toast by 914.4% during the 4th quarter. Two Sigma Investments LP now owns 2,846,200 shares of the company's stock worth $103,744,000 after acquiring an additional 2,565,634 shares during the period. Two Sigma Advisers LP bought a new position in shares of Toast in the 4th quarter worth $87,188,000. Finally, BNP Paribas Financial Markets bought a new position in shares of Toast in the 4th quarter worth $83,684,000. Institutional investors own 82.91% of the company's stock.

Analyst Upgrades and Downgrades

TOST has been the topic of a number of research analyst reports. BMO Capital Markets increased their price target on shares of Toast from $44.00 to $45.00 and gave the stock an "outperform" rating in a report on Monday, May 12th. The Goldman Sachs Group increased their price target on shares of Toast from $45.00 to $51.00 and gave the stock a "neutral" rating in a report on Wednesday, August 6th. Keefe, Bruyette & Woods increased their price target on shares of Toast from $47.00 to $50.00 and gave the stock a "market perform" rating in a report on Wednesday, August 6th. Citigroup reissued a "buy" rating on shares of Toast in a report on Wednesday, July 16th. Finally, Truist Financial increased their price target on shares of Toast from $48.00 to $50.00 and gave the stock a "buy" rating in a report on Thursday, July 17th. Fifteen equities research analysts have rated the stock with a Buy rating and eleven have given a Hold rating to the company's stock. According to MarketBeat, Toast presently has an average rating of "Moderate Buy" and a consensus target price of $45.54.

Toast Stock Performance

TOST stock opened at $43.9010 on Friday. Toast, Inc. has a 52 week low of $22.91 and a 52 week high of $49.66. The firm's fifty day moving average is $44.76 and its 200 day moving average is $40.21. The firm has a market cap of $22.39 billion, a P/E ratio of 129.12 and a beta of 2.01.

Toast (NYSE:TOST - Get Free Report) last released its earnings results on Tuesday, August 5th. The company reported $0.13 EPS for the quarter, missing the consensus estimate of $0.23 by ($0.10). Toast had a net margin of 4.07% and a return on equity of 14.19%. The business had revenue of $1.55 billion for the quarter, compared to the consensus estimate of $1.52 billion. During the same period in the prior year, the business posted $0.02 EPS. Toast's revenue for the quarter was up 24.8% on a year-over-year basis. As a group, analysts forecast that Toast, Inc. will post 0.39 EPS for the current year.

Insider Activity at Toast

In other Toast news, CFO Elena Gomez sold 34,170 shares of the stock in a transaction on Wednesday, July 2nd. The shares were sold at an average price of $42.56, for a total transaction of $1,454,275.20. Following the completion of the sale, the chief financial officer owned 139,357 shares of the company's stock, valued at $5,931,033.92. This represents a 19.69% decrease in their position. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, Director Paul D. Bell sold 12,500 shares of the stock in a transaction on Thursday, August 21st. The shares were sold at an average price of $42.38, for a total transaction of $529,750.00. Following the sale, the director directly owned 226,892 shares of the company's stock, valued at $9,615,682.96. The trade was a 5.22% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 405,554 shares of company stock worth $17,333,686 in the last 90 days. Corporate insiders own 12.14% of the company's stock.

Toast 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.

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