Toast, Inc. $TOST Stock: Candriam S.C.A. Increases Stake

Key Points

• Candriam S.C.A. increased its Toast stake by 447.2% in the third quarter, adding 222,834 shares to hold 272,659 shares valued at about $7.9 million. Institutional investors and hedge funds own 82.91% of the stock.
• Analysts’ consensus rating is “Moderate Buy,” with an average price target of $38.65; 17 analysts rate Toast a Buy and 11 a Hold.
• Toast reported quarterly revenue of $1.98 billion, up 21.3% year over year and slightly above estimates, while EPS of $0.29 missed the $0.37 consensus.

Candriam S.C.A. increased its holdings in shares of Toast, Inc. (NYSE:TOST - Free Report) by 447.2% in the 3rd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 272,659 shares of the company's stock after buying an additional 222,834 shares during the quarter. Candriam S.C.A. owned 0.05% of Toast worth $7,933,000 at the end of the most recent reporting period.

Several other large investors have also bought and sold shares of the business. Ethic Inc. acquired a new position in Toast during the third quarter worth about $246,000. Pictet Asset Management Holding SA lifted its holdings in shares of Toast by 2.1% in the third quarter. Pictet Asset Management Holding SA now owns 175,050 shares of the company's stock worth $5,075,000 after acquiring an additional 3,653 shares during the last quarter. Investment Management Corp VA ADV lifted its holdings in shares of Toast by 10.1% in the third quarter. Investment Management Corp VA ADV now owns 16,286 shares of the company's stock worth $472,000 after acquiring an additional 1,499 shares during the last quarter. Tamar Securities LLC boosted its stake in shares of Toast by 14.7% in the 3rd quarter. Tamar Securities LLC now owns 23,361 shares of the company's stock valued at $677,000 after purchasing an additional 3,001 shares in the last quarter. Finally, Alps Advisors Inc. acquired a new stake in shares of Toast in the 3rd quarter valued at approximately $505,000. 82.91% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several equities research analysts recently issued reports on the stock. Piper Sandler reaffirmed an "overweight" rating and set a $39.00 price target on shares of Toast in a report on Wednesday, November 4th. Citigroup upped their price objective on shares of Toast from $36.00 to $39.00 and gave the stock a "buy" rating in a research report on Wednesday, August 5th. Oppenheimer increased their price objective on shares of Toast from $36.00 to $38.00 and gave the company an "outperform" rating in a research note on Wednesday, August 5th. BTIG Research restated a "neutral" rating on shares of Toast in a research report on Thursday, August 27th. Finally, Barclays raised their target price on shares of Toast from $35.00 to $39.00 and gave the company an "overweight" rating in a research report on Wednesday, August 5th. Seventeen research analysts have rated the stock with a Buy rating and eleven have assigned a Hold rating to the stock. Based on data from MarketBeat.com, the company currently has an average rating of "Moderate Buy" and a consensus price target of $38.65.

Toast Stock Up 0.3%

Shares of TOST opened at $34.76 on Tuesday. The stock has a market cap of $17.87 billion, a PE ratio of 38.03 and a beta of 1.74. Toast, Inc. has a 12-month low of $22.26 and a 12-month high of $38.64. The business has a 50-day simple moving average of $31.85 and a two-hundred day simple moving average of $29.42.

Toast (NYSE:TOST - Get Free Report) last announced its quarterly earnings results on Tuesday, November 3rd. The company reported $0.29 EPS for the quarter, missing analysts' consensus estimates of $0.37 by ($0.08). The firm had revenue of $1.98 billion for the quarter, compared to analyst estimates of $1.97 billion. Toast had a net margin of 7.69% and a return on equity of 26.39%. The business's revenue for the quarter was up 21.3% compared to the same quarter last year. During the same period in the previous year, the business posted $0.16 earnings per share. On average, equities research analysts expect that Toast, Inc. will post 1.00 EPS for the current year.

Insiders Place Their Bets

In other news, President Stephen Fredette sold 9,368 shares of the firm's stock in a transaction on Friday, October 2nd. The shares were sold at an average price of $29.35, for a total transaction of $274,950.80. Following the completion of the transaction, the president owned 941,692 shares of the company's stock, valued at approximately $27,638,660.20. This trade represents a 0.99% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, CFO Elena Gomez sold 11,886 shares of Toast stock in a transaction on Friday, October 2nd. The stock was sold at an average price of $29.35, for a total transaction of $348,854.10. Following the transaction, the chief financial officer owned 171,957 shares in the company, valued at approximately $5,046,937.95. This trade represents a 6.47% decrease in their position. The disclosure for this sale is available in the SEC filing. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Insiders have sold 195,933 shares of company stock worth $6,608,185 over the last quarter. 10.03% of the stock is currently owned by corporate insiders.

About Toast

Toast, Inc provides a cloud-based technology platform designed for restaurants. Its products combine point-of-sale software and hardware with payment processing, helping restaurants manage in-person transactions and day-to-day operations.

The platform includes tools for online ordering, delivery, marketing, customer loyalty, payroll, and team management, alongside features for managing menus and restaurant operations. Restaurants can use Toast's products together or select services to fit their needs.

Founded in 2011 and headquartered in Boston, Toast serves restaurants in the United States and selected international markets.

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