Caisse DE Depot ET Placement DU Quebec Sells 139,473 Shares of Toast, Inc. $TOST

Key Points

• Caisse DE Depot ET Placement DU Quebec reduced its holdings in Toast, Inc. by 30.3%, owning approximately $10.65 million worth of shares at the end of the first quarter.
• Major investors, including the Vanguard Group and Price T Rowe Associates, increased their stakes in Toast, with over 82% of the company's stock being owned by institutional investors and hedge funds.
• Toast's recent quarterly earnings report showed a 24.8% year-over-year revenue increase, but the company missed EPS estimates by $0.10, reporting $0.13 EPS compared to the consensus estimate of $0.23.

Caisse DE Depot ET Placement DU Quebec reduced its position in shares of Toast, Inc. (NYSE:TOST - Free Report) by 30.3% during the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 320,973 shares of the company's stock after selling 139,473 shares during the period. Caisse DE Depot ET Placement DU Quebec owned about 0.06% of Toast worth $10,647,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Principal Financial Group Inc. boosted its holdings in Toast by 14,258.8% in the first quarter. Principal Financial Group Inc. now owns 5,474,443 shares of the company's stock valued at $181,587,000 after acquiring an additional 5,436,317 shares during the last quarter. Price T Rowe Associates Inc. MD boosted its holdings in Toast by 17.5% in the first quarter. Price T Rowe Associates Inc. MD now owns 23,454,209 shares of the company's stock valued at $777,978,000 after acquiring an additional 3,490,686 shares during the last quarter. 1832 Asset Management L.P. bought a new stake in Toast in the first quarter valued at approximately $86,650,000. Voloridge Investment Management LLC boosted its holdings in Toast by 898.8% in the fourth quarter. Voloridge Investment Management LLC now owns 2,858,720 shares of the company's stock valued at $104,200,000 after acquiring an additional 2,572,503 shares during the last quarter. Finally, Two Sigma Investments LP boosted its holdings in Toast by 914.4% in the fourth quarter. Two Sigma Investments LP now owns 2,846,200 shares of the company's stock valued at $103,744,000 after acquiring an additional 2,565,634 shares during the last quarter. 82.91% of the stock is currently owned by institutional investors.

Toast Stock Up 0.5%

TOST traded up $0.21 during trading on Friday, hitting $45.16. The company's stock had a trading volume of 4,185,696 shares, compared to its average volume of 8,509,199. Toast, Inc. has a twelve month low of $22.91 and a twelve month high of $49.66. The stock's fifty day moving average price is $44.94 and its 200-day moving average price is $40.32. The firm has a market capitalization of $23.03 billion, a P/E ratio of 132.83 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 earnings per share for the quarter, missing analysts' consensus estimates of $0.23 by ($0.10). Toast had a return on equity of 14.19% and a net margin of 4.07%.The firm had revenue of $1.55 billion for the quarter, compared to analyst estimates of $1.52 billion. During the same period in the previous year, the company earned $0.02 earnings per share. Toast's revenue for the quarter was up 24.8% compared to the same quarter last year. Equities research analysts expect that Toast, Inc. will post 0.39 EPS for the current fiscal year.

Analysts Set New Price Targets

Several analysts recently commented on TOST shares. DA Davidson upped their target price on Toast from $40.00 to $46.00 and gave the company a "neutral" rating in a report on Tuesday, July 29th. Canaccord Genuity Group upped their target price on Toast from $48.00 to $54.00 and gave the company a "buy" rating in a report on Wednesday, August 6th. JPMorgan Chase & Co. boosted their price target on Toast from $42.00 to $52.00 and gave the company a "neutral" rating in a research note on Wednesday, August 6th. Jefferies Financial Group boosted their price target on Toast from $50.00 to $54.00 and gave the company a "buy" rating in a research note on Friday, July 18th. Finally, Citigroup reissued a "buy" rating on shares of Toast in a research note on Wednesday, July 16th. Fifteen research analysts have rated the stock with a Buy rating and eleven have assigned a Hold rating to the company. According to data from MarketBeat.com, Toast has a consensus rating of "Moderate Buy" and an average price target of $45.54.

Insiders Place Their Bets

In related news, CRO Jonathan Vassil sold 1,427 shares of the stock in a transaction on Monday, August 4th. The stock was sold at an average price of $48.38, for a total value of $69,038.26. Following the completion of the sale, the executive directly owned 63,298 shares of the company's stock, valued at approximately $3,062,357.24. This represents a 2.20% decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, President Stephen Fredette sold 1,720 shares of the firm's stock in a transaction on Monday, August 4th. The shares were sold at an average price of $48.38, for a total value of $83,213.60. Following the sale, the president directly owned 890,818 shares of the company's stock, valued at approximately $43,097,774.84. This represents a 0.19% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 405,554 shares of company stock worth $17,333,686 in the last three months. 12.14% of the stock is owned by corporate insiders.

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.