Vontobel Holding Ltd. Raises Stock Position in Toast, Inc. $TOST

Vontobel Holding Ltd. lifted its position in Toast, Inc. (NYSE:TOST) by 7.2% in the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 11,263 shares of the company’s stock after purchasing an additional 753 shares during the quarter. Vontobel Holding Ltd.’s holdings in Toast were worth $499,000 at the end of the most recent reporting period.

Other hedge funds have also recently modified their holdings of the company. IFM Investors Pty Ltd grew its holdings in shares of Toast by 29.2% in the second quarter. IFM Investors Pty Ltd now owns 83,803 shares of the company’s stock valued at $3,712,000 after purchasing an additional 18,950 shares during the period. Charles Schwab Investment Management Inc. grew its holdings in shares of Toast by 5.2% in the first quarter. Charles Schwab Investment Management Inc. now owns 3,092,210 shares of the company’s stock valued at $102,569,000 after purchasing an additional 153,723 shares during the period. Yorktown Management & Research Co Inc purchased a new stake in shares of Toast in the first quarter valued at about $252,000. Principal Financial Group Inc. grew 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 period. Finally, Comerica Bank grew its holdings in shares of Toast by 122.9% in the first quarter. Comerica Bank now owns 76,644 shares of the company’s stock valued at $2,542,000 after purchasing an additional 42,266 shares during the period. Hedge funds and other institutional investors own 82.91% of the company’s stock.

Wall Street Analyst Weigh In

A number of brokerages recently issued reports on TOST. Truist Financial upped their price objective on shares of Toast from $48.00 to $50.00 and gave the company a “buy” rating in a report on Thursday, July 17th. Citigroup reaffirmed a “buy” rating on shares of Toast in a research note on Wednesday, July 16th. Wells Fargo & Company initiated coverage on shares of Toast in a research note on Wednesday, July 16th. They set a “buy” rating for the company. Jefferies Financial Group increased their target price on shares of Toast from $50.00 to $54.00 and gave the stock a “buy” rating in a research note on Friday, July 18th. Finally, DA Davidson increased their target price on shares of Toast from $40.00 to $46.00 and gave the stock a “neutral” rating in a research note on Tuesday, July 29th. Fifteen investment analysts have rated the stock with a Buy rating and eleven have issued a Hold rating to the company. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $45.35.

Insider Transactions at Toast

In related news, President Stephen Fredette sold 7,550 shares of the firm’s stock in a transaction that occurred on Thursday, October 2nd. The shares were sold at an average price of $35.56, for a total value of $268,478.00. Following the sale, the president owned 898,475 shares of the company’s stock, valued at $31,949,771. This trade represents a 0.83% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, General Counsel Brian R. Elworthy sold 4,987 shares of the firm’s stock in a transaction that occurred on 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 approximately $8,104,977.44. This trade represents a 2.14% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 62,196 shares of company stock valued at $2,398,513 over the last quarter. Insiders own 12.14% of the company’s stock.

Toast Stock Performance

Shares of TOST opened at $37.90 on Wednesday. The stock has a market capitalization of $19.33 billion, a PE ratio of 111.47 and a beta of 1.94. Toast, Inc. has a 1 year low of $28.05 and a 1 year high of $49.66. The company’s 50-day simple moving average is $40.67 and its 200-day simple moving average is $40.87.

Toast (NYSE:TOST) last issued its quarterly earnings results on Tuesday, August 5th. The company reported $0.13 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.23 by ($0.10). The business had revenue of $1.55 billion for the quarter, compared to analyst estimates of $1.52 billion. Toast had a return on equity of 14.19% and a net margin of 4.07%.The firm’s revenue for the quarter was up 24.8% compared to the same quarter last year. During the same period in the prior year, the company posted $0.02 EPS. On average, sell-side 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.