Thematics Asset Management Makes New $2.45 Million Investment in Toast, Inc. $TOST

Key Points

• Thematics Asset Management has made a new investment in Toast, Inc. by acquiring 73,771 shares valued at approximately $2.45 million.
• Toast, Inc. reported a 24.8% increase in revenue compared to the same quarter last year, despite missing earnings per share expectations by $0.10.
• Several analysts have increased their price targets for Toast, with the consensus now set at $45.54, reflecting a predominantly positive outlook for the stock.

Thematics Asset Management purchased a new stake in shares of Toast, Inc. (NYSE:TOST - Free Report) in the 1st quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor purchased 73,771 shares of the company's stock, valued at approximately $2,447,000.

Several other institutional investors have also added to or reduced their stakes in TOST. Wayfinding Financial LLC purchased a new stake in Toast during the 1st quarter valued at $34,000. Piscataqua Savings Bank boosted its position in Toast by 57.1% during the 1st quarter. Piscataqua Savings Bank now owns 1,100 shares of the company's stock valued at $36,000 after buying an additional 400 shares during the period. West Branch Capital LLC boosted its position in 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 during the period. SBI Securities Co. Ltd. boosted its position in Toast by 29.2% during the 1st quarter. SBI Securities Co. Ltd. now owns 1,257 shares of the company's stock valued at $42,000 after buying an additional 284 shares during the period. Finally, Signaturefd LLC boosted its position in 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 buying an additional 1,022 shares during the period. Hedge funds and other institutional investors own 82.91% of the company's stock.

Toast Stock Performance

Shares of TOST stock opened at $43.9010 on Monday. Toast, Inc. has a one year low of $22.91 and a one year high of $49.66. The company's 50-day moving average is $44.76 and its 200 day moving average is $40.19. The company has a market capitalization of $22.39 billion, a price-to-earnings ratio of 129.12 and a beta of 2.01.

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

Analysts Set New Price Targets

Several equities research analysts have weighed in on TOST shares. DA Davidson increased their price target 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. Canaccord Genuity Group upped their price objective on shares of Toast from $48.00 to $54.00 and gave the stock a "buy" rating in a report on Wednesday, August 6th. Keefe, Bruyette & Woods upped their price objective on shares of Toast from $47.00 to $50.00 and gave the stock a "market perform" rating in a report on Wednesday, August 6th. Deutsche Bank Aktiengesellschaft began coverage on shares of Toast in a report on Thursday, July 17th. They issued a "buy" rating and a $54.00 price objective for the company. Finally, Piper Sandler upped their price objective on shares of Toast from $35.00 to $37.00 and gave the stock a "neutral" rating in a report on Friday, May 9th. Fifteen investment analysts have rated the stock with a Buy rating and eleven have issued a Hold rating to the stock. According to MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and a consensus price target of $45.54.

Insider Activity

In other news, General Counsel Brian R. Elworthy sold 1,051 shares of the firm's stock in a transaction dated Monday, August 4th. The shares were sold at an average price of $48.38, for a total transaction of $50,847.38. Following the sale, the general counsel owned 222,868 shares of the company's stock, valued at $10,782,353.84. This trade represents a 0.47% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, CRO Jonathan Vassil sold 1,427 shares of the firm's stock in a transaction dated Monday, August 4th. The shares were sold at an average price of $48.38, for a total transaction of $69,038.26. Following the sale, the executive directly owned 63,298 shares in the company, valued at approximately $3,062,357.24. The trade was a 2.20% 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. 12.14% of the stock is owned by corporate insiders.

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.

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