Banque Cantonale Vaudoise Acquires New Position in Toast, Inc. (NYSE:TOST)

Key Points

• Banque Cantonale Vaudoise acquired 6,826 shares of Toast, Inc. for approximately $226,000 in the first quarter, adding to the trend of rising institutional investment in the company.
• Director Paul D. Bell sold 11,000 shares, while General Counsel Brian R. Elworthy sold 300,000 shares of Toast, reflecting significant insider trading activity.
• Toast's stock has experienced considerable volatility, with a 52-week range between $22.10 and $49.56, and currently holds an average analyst rating of "Moderate Buy" with a target price of $43.42.

Banque Cantonale Vaudoise bought a new stake in shares of Toast, Inc. (NYSE:TOST - Free Report) in the 1st quarter, according to its most recent filing with the SEC. The institutional investor bought 6,826 shares of the company's stock, valued at approximately $226,000.

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

Insider Activity

In related news, General Counsel Brian R. Elworthy sold 300,000 shares of Toast stock in a transaction on Monday, June 2nd. The shares were sold at an average price of $42.60, for a total value of $12,780,000.00. Following the completion of the sale, the general counsel owned 216,156 shares of the company's stock, valued at approximately $9,208,245.60. The trade was a 58.12% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, Director Paul D. Bell sold 11,000 shares of the business's stock in a transaction on Thursday, May 15th. The stock was sold at an average price of $45.13, for a total transaction of $496,430.00. Following the transaction, the director directly owned 229,680 shares of the company's stock, valued at approximately $10,365,458.40. This represents a 4.57% decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders sold 466,131 shares of company stock worth $20,048,851. 13.32% of the stock is owned by corporate insiders.

Toast Trading Down 3.0%

NYSE:TOST traded down $1.49 on Tuesday, reaching $47.81. The stock had a trading volume of 14,128,709 shares, compared to its average volume of 8,333,251. Toast, Inc. has a 12-month low of $22.10 and a 12-month high of $49.66. The company has a 50-day moving average of $44.52 and a 200 day moving average of $39.85. The stock has a market cap of $23.81 billion, a P/E ratio of 207.87 and a beta of 2.01.

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

Wall Street Analyst Weigh In

A number of brokerages have commented on TOST. Citigroup restated a "buy" rating on shares of Toast in a research report on Wednesday, July 16th. Barclays reaffirmed an "overweight" rating on shares of Toast in a research note on Wednesday, July 16th. Wall Street Zen lowered Toast from a "buy" rating to a "hold" rating in a research report on Saturday, July 5th. Deutsche Bank Aktiengesellschaft started coverage on Toast in a report on Thursday, July 17th. They issued a "buy" rating and a $54.00 price objective for the company. Finally, Evercore ISI started 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. Twelve research analysts have rated the stock with a hold rating and fifteen have issued a buy rating to the company. According to data from MarketBeat, Toast currently has an average rating of "Moderate Buy" and a consensus 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.