Toast, Inc. $TOST Shares Sold by Edmond DE Rothschild Holding S.A.

Key Points

• Edmond DE Rothschild Holding S.A. reduced its stake in Toast, Inc. by 12.1%, holding a total of 618,111 shares valued at approximately $20.5 million post-sale.
• Institutional investors collectively hold 82.91% of Toast's stock, with significant increases in holdings from multiple firms, including Principal Financial Group and Price T Rowe Associates.
• Analysts have generally rated Toast positively, with a consensus target price of $45.54 and several firms increasing their price targets for the stock in recent months.

Edmond DE Rothschild Holding S.A. cut its stake in shares of Toast, Inc. (NYSE:TOST - Free Report) by 12.1% during the 1st quarter, according to its most recent filing with the SEC. The institutional investor owned 618,111 shares of the company's stock after selling 85,486 shares during the period. Edmond DE Rothschild Holding S.A. owned approximately 0.12% of Toast worth $20,503,000 at the end of the most recent reporting period.

Several other large investors also recently bought and sold shares of the company. Banque Transatlantique SA purchased a new stake in shares of Toast during the first quarter valued at approximately $56,000. AQR Capital Management LLC grew its holdings in Toast by 1.4% during the 1st quarter. AQR Capital Management LLC now owns 204,685 shares of the company's stock valued at $6,648,000 after purchasing an additional 2,757 shares in the last quarter. Advisors Asset Management Inc. increased its stake in Toast by 7.3% during the 1st quarter. Advisors Asset Management Inc. now owns 4,439 shares of the company's stock worth $147,000 after buying an additional 301 shares during the period. Amundi increased its stake in Toast by 137.2% during the 1st quarter. Amundi now owns 1,111,179 shares of the company's stock worth $36,291,000 after buying an additional 642,792 shares during the period. Finally, Adage Capital Partners GP L.L.C. acquired a new position in Toast in the 1st quarter worth $3,317,000. Institutional investors and hedge funds own 82.91% of the company's stock.

Toast Trading Up 0.1%

NYSE TOST traded up $0.05 on Friday, hitting $41.16. 7,073,236 shares of the stock traded hands, compared to its average volume of 7,271,626. The stock has a 50-day moving average of $44.89 and a 200 day moving average of $40.39. Toast, Inc. has a twelve month low of $22.91 and a twelve month high of $49.66. The company has a market capitalization of $20.99 billion, a P/E ratio of 121.06 and a beta of 2.00.

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 the consensus estimate 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 during the quarter, compared to analyst estimates of $1.52 billion. During the same quarter in the previous year, the business posted $0.02 EPS. Toast's revenue was up 24.8% compared to the same quarter last year. As a group, equities research analysts expect that Toast, Inc. will post 0.39 earnings per share for the current year.

Insider Transactions at Toast

In other news, Director Paul D. Bell sold 12,500 shares of the firm's stock in a transaction dated Thursday, August 21st. The shares were sold at an average price of $42.38, for a total value of $529,750.00. Following the transaction, the director directly owned 226,892 shares in the company, valued at approximately $9,615,682.96. This trade represents a 5.22% decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, Director Richard Kent Bennett sold 9,712 shares of Toast stock in a transaction dated Tuesday, June 10th. The shares were sold at an average price of $43.14, for a total transaction of $418,975.68. Following the completion of the transaction, the director directly owned 534,167 shares of the company's stock, valued at $23,043,964.38. This trade represents a 1.79% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 98,054 shares of company stock valued at $4,223,686 over the last quarter. Insiders own 12.14% of the company's stock.

Analyst Ratings Changes

Several brokerages have recently weighed in on TOST. BMO Capital Markets raised their target price on Toast from $44.00 to $45.00 and gave the company an "outperform" rating in a research note on Monday, May 12th. Morgan Stanley boosted their price target on Toast from $50.00 to $54.00 and gave the stock an "overweight" rating in a research note on Wednesday, August 6th. Wall Street Zen lowered Toast from a "buy" rating to a "hold" rating in a research note on Saturday. DA Davidson lifted their price objective on Toast from $40.00 to $46.00 and gave the stock a "neutral" rating in a report on Tuesday, July 29th. Finally, Barclays reaffirmed an "overweight" rating on shares of Toast in a research report on Wednesday, July 16th. Fifteen research analysts have rated the stock with a Buy rating and eleven have issued a Hold rating to the company. According to data from MarketBeat, the company has a consensus rating of "Moderate Buy" and an average target price of $45.54.

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.