Amundi Buys 655,717 Shares of Toast, Inc. $TOST

Amundi grew its stake in shares of Toast, Inc. (NYSE:TOST - Free Report) by 24.5% during the first quarter, according to the company in its most recent disclosure with the SEC. The fund owned 3,329,206 shares of the company's stock after buying an additional 655,717 shares during the quarter. Amundi owned approximately 0.65% of Toast worth $88,257,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently modified their holdings of TOST. Capelight Capital Asset Management LP bought a new position in Toast in the 4th quarter valued at approximately $2,131,000. Robeco Institutional Asset Management B.V. boosted its position in Toast by 6.3% during the 4th quarter. Robeco Institutional Asset Management B.V. now owns 972,230 shares of the company's stock worth $34,524,000 after buying an additional 57,512 shares during the period. Lecap Asset Management Ltd. grew its holdings in Toast by 206.7% during the 4th quarter. Lecap Asset Management Ltd. now owns 59,123 shares of the company's stock worth $2,099,000 after acquiring an additional 39,847 shares during the last quarter. Campbell Capital Management Inc. bought a new stake in Toast during the 4th quarter worth approximately $9,812,000. Finally, Hamilton Lane Advisors LLC acquired a new position in Toast in the 4th quarter valued at approximately $15,770,000. Institutional investors own 82.91% of the company's stock.

Analyst Ratings Changes

Several equities analysts have recently issued reports on TOST shares. UBS Group dropped their price target on shares of Toast from $40.00 to $34.00 and set a "buy" rating for the company in a research note on Friday, May 8th. Barclays initiated coverage on Toast in a report on Tuesday, July 7th. They issued an "overweight" rating and a $35.00 price objective for the company. Oppenheimer reaffirmed an "outperform" rating and set a $36.00 target price on shares of Toast in a research report on Friday, May 8th. Rothschild & Co Redburn reaffirmed a "neutral" rating and set a $35.00 target price on shares of Toast in a report on Tuesday, May 12th. Finally, Piper Sandler started coverage on Toast in a research report on Wednesday, June 10th. They issued an "overweight" rating and a $32.00 price target on the stock. Two equities research analysts have rated the stock with a Strong Buy rating, sixteen have given a Buy rating and eight have assigned a Hold rating to the stock. Based on data from MarketBeat.com, the stock has an average rating of "Moderate Buy" and an average price target of $37.15.

Toast Trading Down 1.4%

Shares of TOST opened at $32.38 on Friday. The firm's fifty day simple moving average is $27.47 and its two-hundred day simple moving average is $27.92. Toast, Inc. has a 12 month low of $22.26 and a 12 month high of $49.66. The stock has a market capitalization of $16.71 billion, a P/E ratio of 49.82 and a beta of 1.74.

Toast (NYSE:TOST - Get Free Report) last posted its quarterly earnings data on Thursday, May 7th. The company reported $0.20 earnings per share for the quarter, missing the consensus estimate of $0.28 by ($0.08). The business had revenue of $1.63 billion during the quarter, compared to the consensus estimate of $1.63 billion. Toast had a return on equity of 20.86% and a net margin of 6.39%.The business's revenue was up 21.9% on a year-over-year basis. During the same period last year, the business posted $0.09 earnings per share. As a group, research analysts predict that Toast, Inc. will post 0.97 EPS for the current fiscal year.

Insider Activity

In other news, CRO Jonathan Vassil sold 6,647 shares of the firm'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 transaction of $191,765.95. Following the completion of the sale, the executive owned 69,966 shares of the company's stock, valued at $2,018,519.10. This trade represents a 8.68% decrease in their position. The sale was disclosed in a filing with the SEC, which is available through this link. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, General Counsel Brian R. Elworthy sold 108,000 shares of Toast stock in a transaction on Friday, May 29th. The shares were sold at an average price of $25.89, for a total transaction of $2,796,120.00. Following the completion of the sale, the general counsel owned 189,642 shares of the company's stock, valued at $4,909,831.38. This represents a 36.29% decrease in their position. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. In the last three months, insiders sold 159,265 shares of company stock worth $4,278,832. Company insiders own 10.03% of the company's stock.

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.

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