Toast, Inc. $TOST Shares Sold by Knights of Columbus Asset Advisors LLC

Key Points

• Knights of Columbus Asset Advisors LLC reduced its stake in Toast, Inc. by 49.0%, selling 29,268 shares, and now holds 30,427 shares worth approximately $1.35 million.
• Several institutional investors made significant adjustments to their positions in Toast, with Principal Financial Group Inc. increasing its holdings by 14,258.8% in the first quarter.
• Analysts have raised their price targets for Toast, with JPMorgan Chase & Co. setting a new target at $52.00 and giving a "neutral" rating.

Knights of Columbus Asset Advisors LLC lessened its stake in Toast, Inc. (NYSE:TOST - Free Report) by 49.0% in the 2nd quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 30,427 shares of the company's stock after selling 29,268 shares during the quarter. Knights of Columbus Asset Advisors LLC's holdings in Toast were worth $1,348,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently made changes to their positions in TOST. Principal Financial Group Inc. increased its holdings in shares of Toast by 14,258.8% in the first quarter. Principal Financial Group Inc. now owns 5,474,443 shares of the company's stock valued at $181,587,000 after purchasing an additional 5,436,317 shares during the last quarter. Price T Rowe Associates Inc. MD increased its holdings in shares of Toast by 17.5% in the first quarter. Price T Rowe Associates Inc. MD now owns 23,454,209 shares of the company's stock valued at $777,978,000 after purchasing an additional 3,490,686 shares during the last quarter. 1832 Asset Management L.P. acquired a new stake in shares of Toast in the first quarter valued at approximately $86,650,000. HMI Capital Management L.P. increased its holdings in shares of Toast by 57.7% in the first quarter. HMI Capital Management L.P. now owns 5,203,183 shares of the company's stock valued at $172,590,000 after purchasing an additional 1,904,040 shares during the last quarter. Finally, Nuveen LLC acquired a new stake in shares of Toast in the first quarter valued at approximately $56,473,000. Institutional investors and hedge funds own 82.91% of the company's stock.

Analyst Upgrades and Downgrades

TOST has been the subject of several recent research reports. JPMorgan Chase & Co. increased their price target on Toast from $42.00 to $52.00 and gave the company a "neutral" rating in a report on Wednesday, August 6th. Weiss Ratings reissued a "hold (c)" rating on shares of Toast in a research note on Saturday, September 27th. Canaccord Genuity Group raised their target price on Toast from $48.00 to $54.00 and gave the stock a "buy" rating in a research note on Wednesday, August 6th. The Goldman Sachs Group raised their target price on Toast from $45.00 to $51.00 and gave the stock a "neutral" rating in a research note on Wednesday, August 6th. Finally, Needham & Company LLC raised their target price on Toast from $50.00 to $60.00 and gave the stock a "buy" rating in a research note on Wednesday, August 6th. 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, the company presently has an average rating of "Moderate Buy" and a consensus target price of $45.78.

Insiders Place Their Bets

In other news, CRO Jonathan Vassil sold 6,530 shares of Toast stock in a transaction on Thursday, October 2nd. The stock was sold at an average price of $35.56, for a total value of $232,206.80. Following the completion of the sale, the executive directly owned 69,932 shares of the company's stock, valued at approximately $2,486,781.92. The trade was a 8.54% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, CFO Elena Gomez sold 9,054 shares of Toast stock in a transaction on Thursday, October 2nd. The shares were sold at an average price of $35.56, for a total value of $321,960.24. Following the completion of the sale, the chief financial officer directly owned 149,572 shares of the company's stock, valued at $5,318,780.32. The trade was a 5.71% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders sold 62,196 shares of company stock valued at $2,398,513. Insiders own 12.14% of the company's stock.

Toast Trading Up 0.9%

Shares of NYSE TOST opened at $36.98 on Tuesday. Toast, Inc. has a twelve month low of $27.65 and a twelve month high of $49.66. The stock has a fifty day simple moving average of $42.08 and a 200-day simple moving average of $40.86. The stock has a market capitalization of $18.86 billion, a PE ratio of 108.76 and a beta of 1.94.

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

Toast 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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