UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC Has $58.38 Million Position in Toast, Inc. $TOST

UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC lifted its stake in Toast, Inc. (NYSE:TOST) by 6.6% in the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 1,760,142 shares of the company’s stock after purchasing an additional 108,234 shares during the period. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC owned 0.35% of Toast worth $58,384,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also modified their holdings of the stock. Ascent Group LLC increased its holdings in shares of Toast by 8.4% in the first quarter. Ascent Group LLC now owns 21,004 shares of the company’s stock valued at $697,000 after purchasing an additional 1,624 shares in the last quarter. Voleon Capital Management LP grew its holdings in Toast by 28.3% during the 1st quarter. Voleon Capital Management LP now owns 287,969 shares of the company’s stock worth $9,552,000 after acquiring an additional 63,532 shares during the period. Jones Financial Companies Lllp grew its holdings in Toast by 12,082.6% during the 1st quarter. Jones Financial Companies Lllp now owns 439,670 shares of the company’s stock worth $14,584,000 after acquiring an additional 436,061 shares during the period. Scientech Research LLC acquired a new stake in Toast during the 1st quarter worth $1,065,000. Finally, Park West Asset Management LLC grew its holdings in Toast by 124.8% during the 1st quarter. Park West Asset Management LLC now owns 656,575 shares of the company’s stock worth $21,779,000 after acquiring an additional 364,500 shares during the period. Institutional investors and hedge funds own 82.91% of the company’s stock.

Analyst Upgrades and Downgrades

TOST has been the subject of a number of analyst reports. Citigroup reaffirmed a “buy” rating on shares of Toast in a report on Wednesday, July 16th. Truist Financial lifted their target price on shares of Toast from $48.00 to $50.00 and gave the stock a “buy” rating in a report on Thursday, July 17th. DA Davidson lifted their target price on shares of Toast from $40.00 to $46.00 and gave the stock a “neutral” rating in a report on Tuesday, July 29th. 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 report on Wednesday, August 6th. Finally, The Goldman Sachs Group lifted their target price on shares of Toast from $45.00 to $51.00 and gave the stock a “neutral” rating in a report on Wednesday, August 6th. Fifteen analysts have rated the stock with a Buy rating and eleven have given a Hold rating to the stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $45.54.

Insider Activity

In other Toast news, CRO Jonathan Vassil sold 1,427 shares of the business’s stock in a transaction dated Monday, August 4th. The shares were sold at an average price of $48.38, for a total transaction of $69,038.26. Following the sale, the executive directly owned 63,298 shares of the company’s stock, valued at $3,062,357.24. The trade was a 2.20% decrease in their position. The sale was disclosed in a filing with the SEC, which is available through this link. Also, CEO Aman Narang sold 1,719 shares of the business’s stock in a transaction dated Monday, August 4th. The stock was sold at an average price of $48.38, for a total transaction of $83,165.22. Following the sale, the chief executive officer directly owned 304,300 shares in the company, valued at $14,722,034. This trade represents a 0.56% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 88,342 shares of company stock worth $3,804,710. 12.14% of the stock is currently owned by company insiders.

Toast Price Performance

Shares of NYSE:TOST opened at $40.00 on Monday. The company’s 50-day moving average price is $44.60 and its two-hundred day moving average price is $40.50. Toast, Inc. has a one year low of $25.96 and a one year high of $49.66. The stock has a market capitalization of $20.40 billion, a PE ratio of 117.65 and a beta of 2.00.

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

About Toast

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.