Toast, Inc. (NYSE:TOST) Holdings Raised by Swiss National Bank

Key Points

• The Swiss National Bank increased its holdings in Toast, Inc. by 2.0%, owning 1,129,100 shares valued at approximately $37.45 million.
• Toast reported earnings of $0.13 per share for the last quarter, missing expectations, but achieved a revenue of $1.55 billion, surpassing estimates.
• Several analysts have raised their price targets for Toast, with Jefferies increasing it to $54.00 and Goldman Sachs to $51.00, indicating strong market interest.

Swiss National Bank lifted its position in shares of Toast, Inc. (NYSE:TOST - Free Report) by 2.0% during the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 1,129,100 shares of the company's stock after purchasing an additional 22,200 shares during the period. Swiss National Bank owned about 0.23% of Toast worth $37,452,000 as of its most recent SEC filing.

A number of other institutional investors have also made changes to their positions in the company. Mitsubishi UFJ Asset Management Co. Ltd. lifted its holdings in Toast by 9.0% in the 1st quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 394,007 shares of the company's stock worth $13,069,000 after buying an additional 32,495 shares in the last quarter. Charles Schwab Investment Management Inc. lifted its stake in shares of Toast by 5.2% in the first quarter. Charles Schwab Investment Management Inc. now owns 3,092,210 shares of the company's stock worth $102,569,000 after acquiring an additional 153,723 shares in the last quarter. ASR Vermogensbeheer N.V. acquired a new position in shares of Toast in the first quarter worth about $497,000. Vanguard Group Inc. lifted its stake in shares of Toast by 3.5% in the first quarter. Vanguard Group Inc. now owns 43,945,584 shares of the company's stock worth $1,457,675,000 after acquiring an additional 1,471,352 shares in the last quarter. Finally, iA Global Asset Management Inc. lifted its stake in shares of Toast by 24.6% in the first quarter. iA Global Asset Management Inc. now owns 17,866 shares of the company's stock worth $593,000 after acquiring an additional 3,522 shares in the last quarter. 82.91% of the stock is owned by institutional investors and hedge funds.

Toast Stock Performance

Shares of Toast stock traded up $0.26 on Wednesday, reaching $44.33. 10,589,765 shares of the company were exchanged, compared to its average volume of 9,312,319. The company's 50-day moving average is $44.79 and its two-hundred day moving average is $40.07. The firm has a market cap of $22.61 billion, a price-to-earnings ratio of 130.38 and a beta of 2.01. Toast, Inc. has a 1-year low of $22.91 and a 1-year high of $49.66.

Toast (NYSE:TOST - Get Free Report) last issued its earnings results on Tuesday, August 5th. The company reported $0.13 earnings per share 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 during the quarter, compared to analyst estimates of $1.52 billion. During the same period in the prior year, the business earned $0.02 earnings per share. Toast's quarterly revenue was up 24.8% on a year-over-year basis. As a group, sell-side analysts forecast that Toast, Inc. will post 0.39 earnings per share for the current year.

Wall Street Analyst Weigh In

A number of equities analysts have issued reports on TOST shares. Canaccord Genuity Group upped their target price on Toast from $48.00 to $54.00 and gave the company a "buy" rating in a research report on Wednesday, August 6th. Wall Street Zen raised shares of Toast from a "hold" rating to a "buy" rating in a report on Saturday. Piper Sandler upped their price target on shares of Toast from $35.00 to $37.00 and gave the company a "neutral" rating in a report on Friday, May 9th. Barclays reaffirmed an "overweight" rating on shares of Toast in a report on Wednesday, July 16th. Finally, Truist Financial upped their target price on shares of Toast from $48.00 to $50.00 and gave the company a "buy" rating in a research note on Thursday, July 17th. Eleven investment analysts have rated the stock with a hold rating and sixteen have given a buy rating to the stock. According to MarketBeat, the stock currently has an average rating of "Moderate Buy" and an average price target of $45.54.

Insider Transactions at Toast

In related news, CFO Elena Gomez sold 2,006 shares of Toast stock in a transaction dated Monday, August 4th. The shares were sold at an average price of $48.38, for a total value of $97,050.28. Following the sale, the chief financial officer directly owned 141,263 shares in the company, valued at $6,834,303.94. This trade represents a 1.40% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, President Stephen Fredette sold 1,720 shares of the firm's stock in a transaction that occurred on Monday, August 4th. The shares were sold at an average price of $48.38, for a total transaction of $83,213.60. Following the completion of the sale, the president owned 890,818 shares in the company, valued at $43,097,774.84. The trade was a 0.19% decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 404,054 shares of company stock worth $17,300,366 over the last 90 days. Corporate insiders own 12.14% of the company's stock.

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.