OVERSEA CHINESE BANKING Corp Ltd Takes $203,000 Position in Toast, Inc. (NYSE:TOST)

Key Points

• OVERSEA CHINESE BANKING Corp Ltd purchased 6,127 shares of Toast, Inc. valued at approximately $203,000, reflecting growing institutional interest in the company.
• CEO Aman Narang sold 13,829 shares, reducing his ownership by 4.37% after the transaction, while insiders have sold a total of 466,131 shares worth over $20 million in the past three months.
• Wall Street analysts have generally rated Toast as a "Moderate Buy," with current average price target set at $43.42 and significant upgrades from various financial firms.

OVERSEA CHINESE BANKING Corp Ltd bought a new position in shares of Toast, Inc. (NYSE:TOST - Free Report) in the 1st quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm bought 6,127 shares of the company's stock, valued at approximately $203,000.

Other large investors also recently modified their holdings of the company. Wayfinding Financial LLC bought a new position in Toast during the 1st quarter valued at approximately $34,000. Piscataqua Savings Bank lifted its stake in Toast by 57.1% in the 1st quarter. Piscataqua Savings Bank now owns 1,100 shares of the company's stock worth $36,000 after purchasing an additional 400 shares in the last quarter. West Branch Capital LLC raised its position in shares of Toast by 862.1% during the 1st quarter. West Branch Capital LLC now owns 1,116 shares of the company's stock valued at $37,000 after buying an additional 1,000 shares in the last quarter. SBI Securities Co. Ltd. raised its position in Toast by 29.2% in the 1st quarter. SBI Securities Co. Ltd. now owns 1,257 shares of the company's stock worth $42,000 after purchasing an additional 284 shares during the period. Finally, Signaturefd LLC increased its holdings in Toast by 227.1% during the first quarter. Signaturefd LLC now owns 1,472 shares of the company's stock valued at $49,000 after buying an additional 1,022 shares during the period. Institutional investors own 82.91% of the company's stock.

Insider Buying and Selling

In related news, Director Christopher P. Comparato sold 70,000 shares of the firm's stock in a transaction that occurred on Wednesday, May 14th. The shares were sold at an average price of $44.74, for a total transaction of $3,131,800.00. Following the completion of the sale, the director directly owned 187,140 shares in the company, valued at approximately $8,372,643.60. This trade represents a 27.22% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, CFO Elena Gomez sold 34,170 shares of the firm's stock in a transaction that occurred on Wednesday, July 2nd. The stock was sold at an average price of $42.56, for a total transaction of $1,454,275.20. Following the sale, the chief financial officer owned 139,357 shares of the company's stock, valued at approximately $5,931,033.92. This represents a 19.69% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 466,131 shares of company stock worth $20,048,851. 13.32% of the stock is owned by insiders.

Analyst Upgrades and Downgrades

A number of equities analysts recently issued reports on the company. Evercore ISI assumed coverage on Toast in a research note on Wednesday, April 9th. They issued an "in-line" rating and a $29.00 target price for the company. Citigroup restated a "buy" rating on shares of Toast in a research note on Wednesday, July 16th. Wells Fargo & Company began coverage on Toast in a research note on Wednesday, July 16th. They issued a "buy" rating for the company. DA Davidson boosted their target price on shares of Toast from $40.00 to $46.00 and gave the company a "neutral" rating in a research report on Tuesday, July 29th. Finally, BMO Capital Markets boosted their target price on shares of Toast from $44.00 to $45.00 and gave the company an "outperform" rating in a research report on Monday, May 12th. Twelve equities research analysts have rated the stock with a hold rating and fifteen have assigned a buy rating to the company's stock. According to data from MarketBeat.com, Toast currently has an average rating of "Moderate Buy" and an average target price of $43.42.

Toast Stock Performance

Shares of Toast stock traded down $1.49 during trading hours on Tuesday, reaching $47.81. The company's stock had a trading volume of 14,128,709 shares, compared to its average volume of 8,333,251. The company's 50 day simple moving average is $44.52 and its 200 day simple moving average is $39.85. Toast, Inc. has a one year low of $22.10 and a one year high of $49.66. The stock has a market cap of $23.81 billion, a P/E ratio of 207.87 and a beta of 2.01.

Toast (NYSE:TOST - Get Free Report) last released its quarterly earnings data 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 11.01% and a net margin of 3.04%. During the same quarter last year, the firm posted $0.02 earnings per share. The business's revenue for the quarter was up 24.8% compared to the same quarter last year. On average, sell-side analysts predict that Toast, Inc. will post 0.39 earnings per share for the current fiscal year.

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.