Canada Pension Plan Investment Board Acquires 136,600 Shares of Toast, Inc. $TOST

Key Points

• The Canada Pension Plan Investment Board increased its holdings in Toast, Inc. by 68.0%, purchasing an additional 136,600 shares and now owning approximately 0.07% of the company valued at $11.2 million.
• Several analysts have recently raised their price targets for Toast, with a consensus target price of $45.54 and a rating of "Moderate Buy" from analysts.
• Toast's recent earnings report indicated a 24.8% year-over-year revenue increase with earnings per share of $0.13, missing expectations by $0.10.

Canada Pension Plan Investment Board lifted its holdings in shares of Toast, Inc. (NYSE:TOST - Free Report) by 68.0% during the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 337,500 shares of the company's stock after purchasing an additional 136,600 shares during the quarter. Canada Pension Plan Investment Board owned 0.07% of Toast worth $11,195,000 at the end of the most recent quarter.

A number of other large investors have also bought and sold shares of the business. Principal Financial Group Inc. lifted its position in Toast by 14,258.8% in the 1st 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 in the last quarter. Price T Rowe Associates Inc. MD lifted its holdings in shares of 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 purchasing an additional 3,490,686 shares in the last quarter. 1832 Asset Management L.P. acquired a new position in shares of Toast during the first quarter worth about $86,650,000. Voloridge Investment Management LLC lifted its stake in Toast by 898.8% in the 4th 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 in the last quarter. Finally, Two Sigma Investments LP grew its stake in shares of 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 in the last quarter. 82.91% of the stock is owned by institutional investors.

Toast Stock Performance

Shares of NYSE TOST traded down $1.32 during trading hours on Thursday, reaching $41.14. 11,089,322 shares of the stock were exchanged, compared to its average volume of 7,277,126. The stock's fifty day simple moving average is $44.95 and its 200 day simple moving average is $40.40. Toast, Inc. has a 52 week low of $22.91 and a 52 week high of $49.66. The firm has a market capitalization of $20.98 billion, a price-to-earnings ratio of 121.29 and a beta of 2.00.

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

Analysts Set New Price Targets

A number of analysts recently issued reports on the company. Wells Fargo & Company initiated coverage on Toast in a research report on Wednesday, July 16th. They issued a "buy" rating on the stock. Needham & Company LLC upped their price target on shares of Toast from $50.00 to $60.00 and gave the stock a "buy" rating in a research report on Wednesday, August 6th. Truist Financial lifted their price objective on shares of Toast from $48.00 to $50.00 and gave the company a "buy" rating in a research report on Thursday, July 17th. BMO Capital Markets raised their target price on shares of Toast from $44.00 to $45.00 and gave the company an "outperform" rating in a research note on Monday, May 12th. Finally, The Goldman Sachs Group lifted their price target on Toast from $45.00 to $51.00 and gave the stock a "neutral" rating in a report on Wednesday, August 6th. Fifteen investment analysts have rated the stock with a Buy rating and eleven have given a Hold rating to the stock. Based on data from MarketBeat, Toast has an average rating of "Moderate Buy" and an average price target of $45.54.

Insider Transactions at Toast

In other Toast news, Director Paul D. Bell sold 12,500 shares of the firm's stock in a transaction that occurred on Thursday, August 21st. The shares were sold at an average price of $42.38, for a total value of $529,750.00. Following the sale, the director owned 226,892 shares in the company, valued at $9,615,682.96. This trade represents a 5.22% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at this link. Also, CFO Elena Gomez sold 2,006 shares of the business's stock in a transaction on Monday, August 4th. The stock was sold at an average price of $48.38, for a total transaction of $97,050.28. Following the sale, the chief financial officer directly owned 141,263 shares in the company, valued at approximately $6,834,303.94. The trade was a 1.40% decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 105,554 shares of company stock worth $4,553,686. 12.14% of the stock is owned by insiders.

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.