Sands Capital Ventures LLC Sells 20,919 Shares of Toast, Inc. $TOST

Key Points

• Sands Capital Ventures LLC reduced its holdings in Toast, Inc. by 9.0%, selling 20,919 shares and now owns 210,611 shares valued at approximately $6.99 million.
• Notably, Principal Financial Group Inc. dramatically increased its stake in Toast by 14,258.8%, acquiring over 5.4 million shares worth roughly $181.6 million.
• Despite missing earnings expectations for the latest quarter, Toast reported a 24.8% year-over-year revenue increase, leading to a consensus rating of "Moderate Buy" among analysts.

Sands Capital Ventures LLC reduced its position in Toast, Inc. (NYSE:TOST - Free Report) by 9.0% in the first quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 210,611 shares of the company's stock after selling 20,919 shares during the quarter. Toast accounts for about 1.7% of Sands Capital Ventures LLC's holdings, making the stock its 11th largest holding. Sands Capital Ventures LLC's holdings in Toast were worth $6,986,000 at the end of the most recent reporting period.

Other large investors also recently modified their holdings of the company. Wayfinding Financial LLC purchased a new stake in Toast in the first quarter worth approximately $34,000. Piscataqua Savings Bank lifted its holdings in shares of 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 acquiring an additional 400 shares during the last quarter. West Branch Capital LLC boosted its stake in shares of Toast by 862.1% in the 1st quarter. West Branch Capital LLC now owns 1,116 shares of the company's stock valued at $37,000 after purchasing an additional 1,000 shares in the last quarter. SBI Securities Co. Ltd. boosted its stake in shares of Toast by 29.2% in the 1st quarter. SBI Securities Co. Ltd. now owns 1,257 shares of the company's stock valued at $42,000 after purchasing an additional 284 shares in the last quarter. Finally, Signaturefd LLC grew its holdings in shares of Toast by 227.1% during the 1st quarter. Signaturefd LLC now owns 1,472 shares of the company's stock valued at $49,000 after purchasing an additional 1,022 shares during the last quarter. 82.91% of the stock is owned by hedge funds and other institutional investors.

Toast Stock Up 3.1%

Shares of TOST traded up $1.3010 during mid-day trading on Friday, hitting $43.9010. 5,377,983 shares of the company's stock traded hands, compared to its average volume of 8,714,206. Toast, Inc. has a 1 year low of $22.91 and a 1 year high of $49.66. The firm has a market capitalization of $22.39 billion, a P/E ratio of 129.12 and a beta of 2.01. The business's 50-day moving average price is $44.76 and its 200-day moving average price is $40.20.

Toast (NYSE:TOST - Get Free Report) last posted its earnings results on Tuesday, August 5th. The company reported $0.13 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.23 by ($0.10). Toast had a net margin of 4.07% and a return on equity of 14.19%. The business had revenue of $1.55 billion for the quarter, compared to analysts' expectations of $1.52 billion. During the same period last year, the firm posted $0.02 earnings per share. Toast's quarterly revenue was up 24.8% on a year-over-year basis. Sell-side analysts anticipate that Toast, Inc. will post 0.39 earnings per share for the current fiscal year.

Insider Activity

In other news, Director Richard Kent Bennett sold 9,712 shares of the business's stock in a transaction that occurred on Tuesday, June 10th. The stock was sold at an average price of $43.14, for a total transaction of $418,975.68. Following the transaction, the director directly owned 534,167 shares of the company's stock, valued at approximately $23,043,964.38. The trade was a 1.79% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CFO Elena Gomez sold 34,170 shares of the business's stock in a transaction that occurred on Wednesday, July 2nd. The shares were sold at an average price of $42.56, for a total value of $1,454,275.20. Following the transaction, the chief financial officer directly owned 139,357 shares in the company, valued at $5,931,033.92. This trade represents a 19.69% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 405,554 shares of company stock valued at $17,333,686. 12.14% of the stock is owned by insiders.

Wall Street Analyst Weigh In

TOST has been the subject of a number of recent research reports. Wall Street Zen raised Toast from a "hold" rating to a "buy" rating in a research note on Saturday, August 9th. Jefferies Financial Group raised their price target on Toast from $50.00 to $54.00 and gave the stock a "buy" rating in a research report on Friday, July 18th. Citigroup reiterated a "buy" rating on shares of Toast in a research report on Wednesday, July 16th. Morgan Stanley raised their target price on shares of Toast from $50.00 to $54.00 and gave the stock an "overweight" rating in a report on Wednesday, August 6th. Finally, Truist Financial raised their target price on shares of Toast from $48.00 to $50.00 and gave the stock a "buy" rating in a report on Thursday, July 17th. Fifteen equities research analysts have rated the stock with a Buy rating and eleven have issued a Hold rating to the company's stock. Based on data from MarketBeat, Toast presently has an average 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.