Triasima Portfolio Management inc. Invests $3.84 Million in Toast, Inc. $TOST

Key Points

• Triasima Portfolio Management inc. invested approximately $3.84 million in Toast, Inc. by acquiring 86,727 shares of the company's stock in the second quarter of the year.
• Institutional ownership of Toast, Inc. stands at 82.91%, indicating strong interest from multiple hedge funds and institutional investors, with Vanguard Group and Price T Rowe Associates being notable shareholders.
• Analyst ratings for Toast, Inc. are largely positive, with several firms issuing "buy" ratings and a consensus price target of $45.78 per share.

Triasima Portfolio Management inc. acquired a new stake in Toast, Inc. (NYSE:TOST - Free Report) in the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm acquired 86,727 shares of the company's stock, valued at approximately $3,841,000.

Several other hedge funds and other institutional investors have also recently made changes to their positions in the stock. Vanguard Group Inc. lifted its stake in shares of Toast by 3.5% in the first quarter. Vanguard Group Inc. now owns 43,945,584 shares of the company's stock valued at $1,457,675,000 after purchasing an additional 1,471,352 shares during the period. Price T Rowe Associates Inc. MD lifted its stake 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 period. T. Rowe Price Investment Management Inc. lifted its stake in shares of Toast by 7.5% in the first quarter. T. Rowe Price Investment Management Inc. now owns 15,520,360 shares of the company's stock valued at $514,811,000 after purchasing an additional 1,082,958 shares during the period. Sumitomo Mitsui Trust Group Inc. lifted its stake in shares of Toast by 2.9% in the first quarter. Sumitomo Mitsui Trust Group Inc. now owns 5,755,872 shares of the company's stock valued at $190,922,000 after purchasing an additional 160,088 shares during the period. Finally, Principal Financial Group Inc. lifted its stake 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 period. Institutional investors and hedge funds own 82.91% of the company's stock.

Insider Buying and Selling at Toast

In other news, General Counsel Brian R. Elworthy sold 4,987 shares of Toast stock in a transaction dated Thursday, October 2nd. The shares were sold at an average price of $35.56, for a total transaction of $177,337.72. Following the completion of the sale, the general counsel directly owned 227,924 shares in the company, valued at $8,104,977.44. The trade was a 2.14% 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, CRO Jonathan Vassil sold 6,530 shares of Toast stock in a transaction dated Thursday, October 2nd. The stock was sold at an average price of $35.56, for a total transaction of $232,206.80. Following the sale, the executive owned 69,932 shares of the company's stock, valued at approximately $2,486,781.92. This trade represents a 8.54% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders sold 62,196 shares of company stock valued at $2,398,513. Corporate insiders own 12.14% of the company's stock.

Analyst Upgrades and Downgrades

Several analysts recently commented on TOST shares. Wells Fargo & Company started coverage on shares of Toast in a research note on Wednesday, July 16th. They issued a "buy" rating for the company. Citigroup restated a "buy" rating on shares of Toast in a research report on Wednesday, July 16th. JPMorgan Chase & Co. lifted their target price on shares of Toast from $42.00 to $52.00 and gave the stock a "neutral" rating in a research report on Wednesday, August 6th. Weiss Ratings restated a "hold (c)" rating on shares of Toast in a research report on Saturday, September 27th. Finally, Canaccord Genuity Group lifted their target price on shares of Toast from $48.00 to $54.00 and gave the stock a "buy" rating in a research report on Wednesday, August 6th. Fifteen equities research analysts have rated the stock with a Buy rating and eleven have assigned a Hold rating to the company's stock. Based on data from MarketBeat.com, the company has an average rating of "Moderate Buy" and a consensus price target of $45.78.

Toast Price Performance

Shares of NYSE TOST opened at $37.19 on Wednesday. The company has a market cap of $18.96 billion, a PE ratio of 109.37 and a beta of 1.94. Toast, Inc. has a 12 month low of $27.65 and a 12 month high of $49.66. The company has a 50-day simple moving average of $41.85 and a 200-day simple moving average of $40.84.

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

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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