Toast, Inc. $TOST Shares Sold by Quantbot Technologies LP

Key Points

• Quantbot Technologies LP reduced its stake in Toast, Inc. by 28.9%, selling 27,934 shares to end up with 68,617 shares worth $2,276,000.
• Toast's latest earnings report revealed $0.13 earnings per share, missing estimates, but its revenue of $1.55 billion was above expectations, showing a 24.8% increase year-over-year.
• Wall Street analysts have a generally positive outlook on Toast, with a consensus target price of $45.54 and a notable number of "Buy" ratings from multiple firms.

Quantbot Technologies LP decreased its position in shares of Toast, Inc. (NYSE:TOST - Free Report) by 28.9% during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 68,617 shares of the company's stock after selling 27,934 shares during the quarter. Quantbot Technologies LP's holdings in Toast were worth $2,276,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently made changes to their positions in the business. Vanguard Group Inc. lifted its position in shares of Toast by 3.5% during the 1st quarter. Vanguard Group Inc. now owns 43,945,584 shares of the company's stock valued at $1,457,675,000 after buying an additional 1,471,352 shares in the last quarter. Sumitomo Mitsui Trust Group Inc. lifted its position in shares of Toast by 2.9% during the 1st quarter. Sumitomo Mitsui Trust Group Inc. now owns 5,755,872 shares of the company's stock valued at $190,922,000 after buying an additional 160,088 shares in the last quarter. Principal Financial Group Inc. lifted its position 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 valued at $181,587,000 after buying an additional 5,436,317 shares in the last quarter. Nikko Asset Management Americas Inc. lifted its position in shares of Toast by 3.2% during the 1st quarter. Nikko Asset Management Americas Inc. now owns 5,002,752 shares of the company's stock valued at $165,941,000 after buying an additional 155,831 shares in the last quarter. Finally, Gilder Gagnon Howe & Co. LLC lifted its position in shares of Toast by 12.4% during the 4th quarter. Gilder Gagnon Howe & Co. LLC now owns 4,039,303 shares of the company's stock valued at $147,233,000 after buying an additional 445,916 shares in the last quarter. Hedge funds and other institutional investors own 82.91% of the company's stock.

Insider Buying and Selling at Toast

In other news, Director Paul D. Bell sold 12,500 shares of Toast stock in a transaction on Thursday, August 21st. The stock was sold at an average price of $42.38, for a total transaction of $529,750.00. Following the transaction, the director owned 226,892 shares in the company, valued at $9,615,682.96. The trade was a 5.22% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Richard Kent Bennett sold 9,712 shares of Toast stock in a transaction on Tuesday, June 10th. The stock was 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 in the company, valued at approximately $23,043,964.38. This represents a 1.79% decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 405,554 shares of company stock worth $17,333,686. Corporate insiders own 12.14% of the company's stock.

Toast Stock Performance

Shares of NYSE TOST traded up $1.3010 during trading on Friday, hitting $43.9010. 5,377,983 shares of the company were exchanged, compared to its average volume of 8,714,206. 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 price of $44.76 and a 200-day moving average price of $40.20. The firm has a market capitalization of $22.39 billion, a PE ratio of 129.12 and a beta of 2.01.

Toast (NYSE:TOST - Get Free Report) last posted its quarterly 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 company had revenue of $1.55 billion for the quarter, compared to analysts' expectations of $1.52 billion. During the same quarter in the prior year, the firm earned $0.02 EPS. The firm's revenue was up 24.8% on a year-over-year basis. Research analysts anticipate that Toast, Inc. will post 0.39 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

A number of research analysts have recently issued reports on TOST shares. Needham & Company LLC increased their target price on Toast from $50.00 to $60.00 and gave the company a "buy" rating in a research report on Wednesday, August 6th. Barclays reiterated an "overweight" rating on shares of Toast in a research report on Wednesday, July 16th. Wall Street Zen upgraded Toast from a "hold" rating to a "buy" rating in a research report on Saturday, August 9th. Deutsche Bank Aktiengesellschaft started coverage on Toast in a report on Thursday, July 17th. They issued a "buy" rating and a $54.00 price objective on the stock. Finally, DA Davidson raised 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. Fifteen investment analysts have rated the stock with a Buy rating and eleven have issued a Hold rating to the company. According to data from MarketBeat.com, Toast presently has an average 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.