OMERS ADMINISTRATION Corp Purchases 11,447 Shares of Toast, Inc. $TOST

Key Points

• OMERS ADMINISTRATION Corp increased its stake in Toast, Inc. by 21.9%, acquiring 11,447 additional shares, bringing its total holdings to 63,775 shares valued at approximately $2.1 million.
• Toast reported a miss in EPS with $0.13 for the latest quarter, compared to the expected $0.23, but saw a revenue increase of 24.8% year-over-year, reaching $1.55 billion.
• Analysts have a consensus rating of Moderate Buy for Toast, with an average price target of $45.54, while some analyst firms have set targets as high as $54.00.

OMERS ADMINISTRATION Corp raised its stake in Toast, Inc. (NYSE:TOST - Free Report) by 21.9% in the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 63,775 shares of the company's stock after purchasing an additional 11,447 shares during the period. OMERS ADMINISTRATION Corp's holdings in Toast were worth $2,115,000 as of its most recent SEC filing.

A number of other hedge funds have also recently bought and sold shares of TOST. Principal Financial Group Inc. boosted its holdings 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 purchasing an additional 5,436,317 shares during the period. Price T Rowe Associates Inc. MD raised its stake 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 valued at $777,978,000 after buying an additional 3,490,686 shares in the last quarter. 1832 Asset Management L.P. acquired a new position in shares of Toast in the 1st quarter valued at $86,650,000. Voloridge Investment Management LLC raised its stake 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 valued at $104,200,000 after buying an additional 2,572,503 shares in the last quarter. Finally, Two Sigma Investments LP raised its stake 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 valued at $103,744,000 after buying an additional 2,565,634 shares in the last quarter. 82.91% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

A number of equities analysts have recently issued reports on the stock. Keefe, Bruyette & Woods increased their price objective on shares of Toast from $47.00 to $50.00 and gave the company a "market perform" rating in a research note on Wednesday, August 6th. Piper Sandler increased their target price on shares of Toast from $35.00 to $37.00 and gave the stock a "neutral" rating in a research report on Friday, May 9th. Needham & Company LLC increased their target price 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. Wall Street Zen upgraded shares of Toast from a "hold" rating to a "buy" rating in a research report on Saturday, August 9th. Finally, Barclays reiterated an "overweight" rating on shares of Toast in a research report on Wednesday, July 16th. Fifteen investment analysts have rated the stock with a Buy rating and eleven have assigned a Hold rating to the stock. Based on data from MarketBeat, Toast presently has an average rating of "Moderate Buy" and an average target price of $45.54.

Toast Stock Down 2.3%

NYSE:TOST traded down $0.98 during mid-day trading on Thursday, reaching $41.48. 6,448,575 shares of the company were exchanged, compared to its average volume of 7,345,343. Toast, Inc. has a 12 month low of $22.91 and a 12 month high of $49.66. The company has a fifty day moving average of $44.97 and a 200 day moving average of $40.39. The stock has a market cap of $21.15 billion, a PE ratio of 121.96 and a beta of 2.00.

Toast (NYSE:TOST - Get Free Report) last issued its quarterly earnings data on Tuesday, August 5th. The company reported $0.13 EPS for the quarter, missing analysts' consensus estimates of $0.23 by ($0.10). The company had revenue of $1.55 billion for the quarter, compared to the consensus estimate of $1.52 billion. Toast had a return on equity of 14.19% and a net margin of 4.07%.The firm's revenue was up 24.8% compared to the same quarter last year. During the same period in the prior year, the company earned $0.02 EPS. On average, equities research analysts anticipate that Toast, Inc. will post 0.39 EPS for the current fiscal year.

Insider Buying and Selling

In other news, Director Richard Kent Bennett sold 9,712 shares of the firm's stock in a transaction dated Tuesday, June 10th. The shares were sold at an average price of $43.14, for a total value of $418,975.68. Following the transaction, the director owned 534,167 shares of the company's stock, valued at approximately $23,043,964.38. This trade represents a 1.79% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, CEO Aman Narang sold 13,829 shares of the firm's stock in a transaction dated Wednesday, July 2nd. The shares were sold at an average price of $42.59, for a total transaction of $588,977.11. Following the completion of the transaction, the chief executive officer directly owned 302,498 shares in the company, valued at $12,883,389.82. This trade represents a 4.37% decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 105,554 shares of company stock worth $4,553,686. 12.14% of the stock is currently owned by company insiders.

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.