Toast, Inc. (NYSE:TOST) Shares Bought by Alberta Investment Management Corp

Key Points

• Alberta Investment Management Corp increased its stake in Toast, Inc. by 14.4% in Q1, owning 113,500 shares valued at $3.77 million.
• Insiders have sold a total of 466,131 shares of Toast within the past three months, with CFO Elena Gomez selling 34,170 shares for approximately $1.45 million.
• Analysts have mixed ratings on Toast, with 12 holding a "hold" rating and 15 issuing a "buy" rating, averaging a target price of $43.42.

Alberta Investment Management Corp lifted its position in shares of Toast, Inc. (NYSE:TOST - Free Report) by 14.4% in the first quarter, according to its most recent 13F filing with the SEC. The firm owned 113,500 shares of the company's stock after purchasing an additional 14,300 shares during the quarter. Alberta Investment Management Corp's holdings in Toast were worth $3,765,000 as of its most recent filing with the SEC.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Wayfinding Financial LLC purchased a new stake in shares of Toast during the 1st quarter valued at about $34,000. Piscataqua Savings Bank grew its position in Toast by 57.1% in the first quarter. Piscataqua Savings Bank now owns 1,100 shares of the company's stock valued at $36,000 after acquiring an additional 400 shares in the last quarter. West Branch Capital LLC raised its stake in shares of Toast by 862.1% during the first quarter. West Branch Capital LLC now owns 1,116 shares of the company's stock valued at $37,000 after purchasing an additional 1,000 shares during the period. SBI Securities Co. Ltd. lifted its position in shares of Toast by 29.2% during the first quarter. SBI Securities Co. Ltd. now owns 1,257 shares of the company's stock worth $42,000 after purchasing an additional 284 shares in the last quarter. Finally, Signaturefd LLC boosted its stake in shares of Toast by 227.1% in the first quarter. Signaturefd LLC now owns 1,472 shares of the company's stock valued at $49,000 after purchasing an additional 1,022 shares during the period. Institutional investors and hedge funds own 82.91% of the company's stock.

Insiders Place Their Bets

In other Toast news, President Stephen Fredette sold 7,647 shares of the business's stock in a transaction dated Wednesday, July 2nd. The shares were sold at an average price of $42.59, for a total transaction of $325,685.73. Following the sale, the president directly owned 889,017 shares in the company, valued at approximately $37,863,234.03. The trade was a 0.85% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, CEO Aman Narang sold 13,829 shares of the business's stock in a transaction that occurred on Wednesday, July 2nd. The stock was sold at an average price of $42.59, for a total value of $588,977.11. Following the sale, the chief executive officer directly owned 302,498 shares in the company, valued at approximately $12,883,389.82. The trade was a 4.37% decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 466,131 shares of company stock worth $20,048,851. 13.32% of the stock is owned by company insiders.

Toast Stock Performance

Shares of Toast stock traded down $1.49 on Tuesday, reaching $47.81. 14,128,709 shares of the company were exchanged, compared to its average volume of 8,333,251. The firm has a market cap of $23.81 billion, a price-to-earnings ratio of 207.87 and a beta of 2.01. Toast, Inc. has a 1-year low of $22.10 and a 1-year high of $49.66. The company's 50-day moving average is $44.52 and its two-hundred day moving average is $39.85.

Toast (NYSE:TOST - Get Free Report) last issued its earnings results on Tuesday, August 5th. The company reported $0.13 earnings per share for the quarter, missing the consensus estimate of $0.23 by ($0.10). Toast had a return on equity of 11.01% and a net margin of 3.04%. Toast's revenue for the quarter was up 24.8% compared to the same quarter last year. During the same period last year, the business earned $0.02 earnings per share. As a group, sell-side analysts forecast that Toast, Inc. will post 0.39 earnings per share for the current year.

Analyst Upgrades and Downgrades

Several equities research analysts recently issued reports on the stock. Truist Financial lifted their price target on shares of Toast from $48.00 to $50.00 and gave the stock a "buy" rating in a research note on Thursday, July 17th. Citigroup restated a "buy" rating on shares of Toast in a research note on Wednesday, July 16th. Barclays reaffirmed an "overweight" rating on shares of Toast in a research report on Wednesday, July 16th. Evercore ISI began coverage on Toast in a report on Wednesday, April 9th. They issued an "in-line" rating and a $29.00 price target for the company. Finally, Jefferies Financial Group raised their price objective on Toast from $50.00 to $54.00 and gave the company a "buy" rating in a research note on Friday, July 18th. Twelve equities research analysts have rated the stock with a hold rating and fifteen have assigned a buy rating to the stock. According to MarketBeat, the stock currently has an average rating of "Moderate Buy" and an average price target of $43.42.

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.