Toast, Inc. $TOST Shares Purchased by Robeco Institutional Asset Management B.V.

Key Points

• Robeco Institutional Asset Management B.V. has significantly increased its stake in Toast, Inc., growing its ownership by 105.7% to approximately 944,600 shares, valued at over $41.8 million.
• Toast's stock has received varied analyst ratings, with a current average rating of "Moderate Buy" and an average price target of $46.30, reflecting confidence in its growth potential.
• Despite a revenue increase of 24.8% year-over-year, Toast's earnings per share of $0.13 fell short of the consensus estimate of $0.23 for the recent quarter.

Robeco Institutional Asset Management B.V. grew its stake in shares of Toast, Inc. (NYSE:TOST - Free Report) by 105.7% in the second quarter, according to its most recent filing with the SEC. The fund owned 944,600 shares of the company's stock after acquiring an additional 485,428 shares during the period. Robeco Institutional Asset Management B.V. owned about 0.19% of Toast worth $41,836,000 at the end of the most recent reporting period.

A number of other hedge funds have also modified their holdings of TOST. IFM Investors Pty Ltd boosted its position in shares of Toast by 29.2% in the 2nd quarter. IFM Investors Pty Ltd now owns 83,803 shares of the company's stock valued at $3,712,000 after purchasing an additional 18,950 shares during the period. Procyon Advisors LLC purchased a new stake in Toast during the first quarter valued at about $242,000. Charles Schwab Investment Management Inc. boosted its holdings 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 buying an additional 153,723 shares during the period. Wealth Enhancement Advisory Services LLC increased its position in shares of Toast by 19.5% in the fourth quarter. Wealth Enhancement Advisory Services LLC now owns 22,751 shares of the company's stock worth $829,000 after acquiring an additional 3,713 shares in the last quarter. Finally, Yorktown Management & Research Co Inc acquired a new stake in shares of Toast during the first quarter valued at approximately $252,000. 82.91% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several equities analysts have weighed in on the stock. Wells Fargo & Company began coverage on shares of Toast in a research report on Wednesday, July 16th. They set a "buy" rating on the stock. Robert W. Baird set a $48.00 price target on Toast in a report on Monday, September 22nd. The Goldman Sachs Group increased 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. Citigroup restated a "buy" rating on shares of Toast in a research report on Wednesday, July 16th. Finally, Keefe, Bruyette & Woods dropped their target price on Toast from $50.00 to $42.00 and set a "market perform" rating on the stock in a report on Wednesday. Fifteen investment analysts have rated the stock with a Buy rating and eleven have given a Hold rating to the company's stock. Based on data from MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and an average target price of $46.30.

Toast Trading Up 1.3%

TOST stock opened at $36.58 on Friday. The firm has a market cap of $18.66 billion, a PE ratio of 107.60 and a beta of 1.94. Toast, Inc. has a 1 year low of $27.65 and a 1 year high of $49.66. The company has a fifty day simple moving average of $42.32 and a 200 day simple moving average of $40.78.

Toast (NYSE:TOST - Get Free Report) last posted 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). The company had revenue of $1.55 billion for the quarter, compared to the consensus estimate of $1.52 billion. Toast had a net margin of 4.07% and a return on equity of 14.19%. Toast's quarterly revenue was up 24.8% on a year-over-year basis. During the same quarter last year, the business earned $0.02 earnings per share. As a group, analysts forecast that Toast, Inc. will post 0.39 EPS for the current fiscal year.

Insider Transactions at Toast

In other news, CEO Aman Narang sold 13,652 shares of the business's stock in a transaction on Thursday, October 2nd. The shares were sold at an average price of $35.56, for a total value of $485,465.12. Following the completion of the sale, the chief executive officer directly owned 318,150 shares in the company, valued at approximately $11,313,414. The trade was a 4.11% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, President Stephen Fredette sold 7,550 shares of the business's stock in a transaction on Thursday, October 2nd. The stock was sold at an average price of $35.56, for a total transaction of $268,478.00. Following the completion of the sale, the president owned 898,475 shares of the company's stock, valued at $31,949,771. The trade was a 0.83% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders sold 62,196 shares of company stock worth $2,398,513. 12.14% of the stock is currently owned by company 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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