Toast, Inc. $TOST Stock: Robeco Institutional Asset Management B.V. Lowers Holdings

Key Points

• Robeco Institutional Asset Management cut its Toast holdings by 48.4% in the third quarter, selling 254,971 shares and retaining 272,333 shares worth approximately $7.9 million.
• Analysts remain broadly positive, with 17 Buy and 11 Hold ratings. Toast has a “Moderate Buy” consensus rating and an average price target of $39.11.
• Toast reported quarterly revenue of $1.91 billion, up 23.1% year over year and above estimates, but earnings per share of $0.26 missed the $0.32 consensus forecast.

Robeco Institutional Asset Management B.V. lessened its holdings in shares of Toast, Inc. (NYSE:TOST - Free Report) by 48.4% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 272,333 shares of the company's stock after selling 254,971 shares during the period. Robeco Institutional Asset Management B.V. owned approximately 0.05% of Toast worth $7,895,000 at the end of the most recent quarter.

Other institutional investors have also recently made changes to their positions in the company. Principal Financial Group Inc. grew its stake in Toast by 36.0% during the 1st quarter. Principal Financial Group Inc. now owns 7,977,244 shares of the company's stock worth $211,478,000 after buying an additional 2,111,009 shares during the last quarter. Bank of America Corp DE increased its position in Toast by 10.6% during the 1st quarter. Bank of America Corp DE now owns 4,866,197 shares of the company's stock valued at $129,003,000 after buying an additional 465,006 shares in the last quarter. Renaissance Technologies LLC raised its stake in Toast by 25.1% in the first quarter. Renaissance Technologies LLC now owns 4,321,437 shares of the company's stock valued at $114,561,000 after buying an additional 867,509 shares during the last quarter. Amova Asset Management Americas Inc. raised its stake in Toast by 0.4% in the first quarter. Amova Asset Management Americas Inc. now owns 3,817,961 shares of the company's stock valued at $101,176,000 after buying an additional 16,614 shares during the last quarter. Finally, Amundi raised its stake in Toast by 24.5% in the first quarter. Amundi now owns 3,329,206 shares of the company's stock valued at $88,257,000 after buying an additional 655,717 shares during the last quarter. Institutional investors and hedge funds own 82.91% of the company's stock.

Analysts Set New Price Targets

Several equities research analysts have weighed in on the company. Keefe, Bruyette & Woods raised their price target on Toast from $30.00 to $35.00 and gave the stock a "market perform" rating in a report on Wednesday, August 5th. Zacks Research lowered shares of Toast from a "strong-buy" rating to a "hold" rating in a research report on Tuesday, July 7th. Citigroup lifted their target price on shares of Toast from $36.00 to $39.00 and gave the stock a "buy" rating in a research note on Wednesday, August 5th. Canaccord Genuity Group set a $40.00 target price on shares of Toast in a research report on Wednesday, August 5th. Finally, BMO Capital Markets boosted their target price on shares of Toast from $35.00 to $40.00 and gave the stock an "outperform" rating in a research report on Wednesday, August 5th. Seventeen equities research analysts have rated the stock with a Buy rating and eleven have issued a Hold rating to the company's stock. Based on data from MarketBeat, the stock presently has an average rating of "Moderate Buy" and an average price target of $39.11.

Toast Stock Performance

TOST stock opened at $32.71 on Friday. The firm has a market cap of $16.81 billion, a PE ratio of 41.94 and a beta of 1.74. The firm's fifty day moving average is $32.35 and its 200 day moving average is $29.43. Toast, Inc. has a one year low of $22.26 and a one year high of $39.72.

Toast (NYSE:TOST - Get Free Report) last issued its quarterly earnings data on Tuesday, August 4th. The company reported $0.26 earnings per share for the quarter, missing analysts' consensus estimates of $0.32 by ($0.06). Toast had a return on equity of 23.90% and a net margin of 7.14%. The firm had revenue of $1.91 billion during the quarter, compared to analyst estimates of $1.87 billion. During the same quarter last year, the company posted $0.13 EPS. The company's revenue was up 23.1% on a year-over-year basis. Research analysts predict that Toast, Inc. will post 1.00 earnings per share for the current fiscal year.

Insider Transactions at Toast

In other Toast news, CEO Aman Narang sold 14,713 shares of the company'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 $431,826.55. Following the completion of the transaction, the chief executive officer directly owned 86,543 shares in the company, valued at approximately $2,540,037.05. This represents a 14.53% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, President Stephen Fredette sold 9,368 shares of the company's stock in a transaction on Friday, October 2nd. The stock was sold at an average price of $29.35, for a total transaction of $274,950.80. Following the transaction, the president owned 941,692 shares of the company's stock, valued at $27,638,660.20. This represents a 0.99% decrease in their ownership of the stock. 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 534,830 shares of company stock worth $18,566,600 in the last ninety days. Company insiders own 10.03% of the company's stock.

About Toast

Toast, Inc NYSE: TOST provides a cloud-based technology platform designed for restaurants. Its integrated system combines point-of-sale software and hardware with payment processing, helping restaurants manage sales, orders, menus, guest interactions and day-to-day operations from a unified platform.

The company offers products and services including online ordering, delivery management, digital ordering and payment tools, restaurant websites, gift cards, loyalty programs, marketing, labor management, payroll, inventory management, reporting and analytics.

Want to see what other hedge funds are holding TOST? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Toast, Inc. (NYSE:TOST - Free Report).

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.