Nomura Holdings Inc. Increases Stock Holdings in Toast, Inc. $TOST

Key Points

• Nomura Holdings Inc. increased its stake in Toast, Inc. by 270.7% in Q1, owning 757,729 shares valued at approximately $25.1 million.
• Other institutional investors have also significantly increased their holdings in Toast, with Principal Financial Group raising their stake by 14,258.8%.
• Despite a year-over-year revenue increase of 24.8%, Toast reported lower-than-expected earnings per share of $0.13, missing estimates by $0.10.

Nomura Holdings Inc. lifted its stake in Toast, Inc. (NYSE:TOST - Free Report) by 270.7% in the first quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 757,729 shares of the company's stock after purchasing an additional 553,330 shares during the quarter. Nomura Holdings Inc. owned about 0.15% of Toast worth $25,134,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently modified their holdings of the stock. Principal Financial Group Inc. lifted its stake in shares of Toast by 14,258.8% during the 1st quarter. Principal Financial Group Inc. now owns 5,474,443 shares of the company's stock worth $181,587,000 after acquiring an additional 5,436,317 shares during the last quarter. Price T Rowe Associates Inc. MD raised its position in shares of Toast by 17.5% in the 1st quarter. Price T Rowe Associates Inc. MD now owns 23,454,209 shares of the company's stock worth $777,978,000 after acquiring an additional 3,490,686 shares in the last quarter. 1832 Asset Management L.P. bought a new position in shares of Toast in the 1st quarter worth $86,650,000. Voloridge Investment Management LLC raised its position in shares of Toast by 898.8% in the 4th quarter. Voloridge Investment Management LLC now owns 2,858,720 shares of the company's stock worth $104,200,000 after acquiring an additional 2,572,503 shares in the last quarter. Finally, Two Sigma Investments LP raised its position in shares of Toast by 914.4% in 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. Hedge funds and other institutional investors own 82.91% of the company's stock.

Insider Buying and Selling

In other Toast news, Director Paul D. Bell sold 12,500 shares of the firm's stock in a transaction on Thursday, August 21st. The stock was sold at an average price of $42.38, for a total value of $529,750.00. Following the sale, the director directly 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 transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, General Counsel Brian R. Elworthy sold 1,051 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 $50,847.38. Following the completion of the sale, the general counsel owned 222,868 shares in the company, valued at approximately $10,782,353.84. This represents a 0.47% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 405,554 shares of company stock valued at $17,333,686 over the last 90 days. 12.14% of the stock is currently owned by corporate insiders.

Toast Stock Up 0.5%

TOST opened at $45.16 on Friday. The firm has a market cap of $23.03 billion, a P/E ratio of 132.83 and a beta of 2.01. The business has a fifty day simple moving average of $44.94 and a 200-day simple moving average of $40.32. Toast, Inc. has a 52 week low of $22.91 and a 52 week high of $49.66.

Toast (NYSE:TOST - Get Free Report) last released 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 company had revenue of $1.55 billion during the quarter, compared to analysts' expectations of $1.52 billion. Toast had a net margin of 4.07% and a return on equity of 14.19%. The company's revenue for the quarter was up 24.8% on a year-over-year basis. During the same quarter last year, the business posted $0.02 earnings per share. Sell-side analysts expect that Toast, Inc. will post 0.39 earnings per share for the current year.

Analyst Ratings Changes

TOST has been the topic of several research analyst reports. BMO Capital Markets boosted their target price on Toast from $44.00 to $45.00 and gave the stock an "outperform" rating in a research note on Monday, May 12th. Truist Financial boosted their price objective on Toast from $48.00 to $50.00 and gave the company a "buy" rating in a report on Thursday, July 17th. DA Davidson boosted their price objective 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 price target on Toast from $48.00 to $54.00 and gave the stock a "buy" rating in a report on Wednesday, August 6th. Finally, The Goldman Sachs Group upped 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 research analysts have rated the stock with a Buy rating and eleven have given a Hold rating to the company's stock. Based on data from MarketBeat, the stock has a consensus rating of "Moderate Buy" and an average price target 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.

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