Toast, Inc. $TOST Shares Bought by IFM Investors Pty Ltd

Key Points

• IFM Investors Pty Ltd increased its stake in Toast, Inc. by 29.2% during the second quarter, now owning 83,803 shares valued at approximately $3.7 million.
• Toast reported a revenue increase of 24.8% year-over-year with earnings per share of $0.13, missing estimates by $0.10.
• Analyst ratings for Toast stock remain bullish, with several firms issuing "buy" ratings and a consensus target price of $46.30.

IFM Investors Pty Ltd boosted its holdings in shares of Toast, Inc. (NYSE:TOST - Free Report) by 29.2% in the 2nd quarter, according to its most recent Form 13F filing with the SEC. The firm owned 83,803 shares of the company's stock after buying an additional 18,950 shares during the period. IFM Investors Pty Ltd's holdings in Toast were worth $3,712,000 as of its most recent SEC filing.

Several other institutional investors also recently modified their holdings of TOST. Quantinno Capital Management LP purchased a new position in shares of Toast in the fourth quarter valued at about $311,000. Vident Advisory LLC bought a new position in shares of Toast in the fourth quarter worth approximately $490,000. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC increased its holdings in shares of Toast by 9.8% in the 4th quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 1,651,908 shares of the company's stock worth $60,212,000 after purchasing an additional 147,267 shares in the last quarter. Toronto Dominion Bank raised its stake in shares of Toast by 10.8% in the fourth quarter. Toronto Dominion Bank now owns 51,300 shares of the company's stock worth $1,870,000 after purchasing an additional 4,981 shares during the last quarter. Finally, Forum Financial Management LP bought a new position in shares of Toast during the fourth quarter valued at $203,000. 82.91% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

TOST has been the subject of a number of research reports. Wells Fargo & Company began coverage on shares of Toast in a report on Wednesday, July 16th. They set a "buy" rating for the company. Wall Street Zen cut Toast from a "buy" rating to a "hold" rating in a report on Monday. Citigroup restated a "buy" rating on shares of Toast in a research report on Wednesday, July 16th. The Goldman Sachs Group boosted their price objective on Toast from $45.00 to $51.00 and gave the stock a "neutral" rating in a research note on Wednesday, August 6th. Finally, Morgan Stanley lifted their price target on shares of Toast from $50.00 to $54.00 and gave the stock an "overweight" rating in a research note on Wednesday, August 6th. Fifteen investment analysts have rated the stock with a Buy rating and ten have issued a Hold rating to the company. According to MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and an average target price of $46.30.

Toast Trading Down 5.3%

TOST traded down $2.19 during trading hours on Monday, hitting $38.94. 27,897,915 shares of the company's stock were exchanged, compared to its average volume of 7,925,543. Toast, Inc. has a 12-month low of $26.75 and a 12-month high of $49.66. The firm has a market cap of $19.86 billion, a P/E ratio of 117.51 and a beta of 2.00. The firm has a 50 day moving average of $44.14 and a 200 day moving average of $40.69.

Toast (NYSE:TOST - Get Free Report) last issued its quarterly 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 for 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 revenue for the quarter was up 24.8% compared to the same quarter last year. As a group, research analysts expect that Toast, Inc. will post 0.39 EPS for the current fiscal year.

Insider Transactions at Toast

In other news, CEO Aman Narang sold 1,719 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 transaction of $83,165.22. Following the completion of the sale, the chief executive officer directly owned 304,300 shares in the company, valued at $14,722,034. The trade was a 0.56% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, Director Paul D. Bell sold 12,500 shares of Toast stock in a transaction on Thursday, August 21st. The shares were sold at an average price of $42.38, for a total value of $529,750.00. Following the completion of the sale, the director directly owned 226,892 shares of the company's stock, valued at approximately $9,615,682.96. This represents a 5.22% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 88,342 shares of company stock worth $3,804,710 in the last quarter. Insiders own 12.14% of the company's stock.

About Toast

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.