ABN Amro Investment Solutions Takes $6.09 Million Position in Toast, Inc. $TOST

ABN Amro Investment Solutions bought a new position in shares of Toast, Inc. (NYSE:TOST) during the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund bought 137,428 shares of the company’s stock, valued at approximately $6,087,000.

Other large investors have also recently made changes to their positions in the company. Candriam S.C.A. boosted its holdings in shares of Toast by 385.0% in the second quarter. Candriam S.C.A. now owns 543,155 shares of the company’s stock valued at $24,057,000 after acquiring an additional 431,172 shares in the last quarter. Calamos Advisors LLC boosted its holdings in Toast by 41.3% during the second quarter. Calamos Advisors LLC now owns 33,720 shares of the company’s stock worth $1,493,000 after buying an additional 9,855 shares in the last quarter. Geode Capital Management LLC grew its position in Toast by 2.8% during the second quarter. Geode Capital Management LLC now owns 7,902,519 shares of the company’s stock worth $348,906,000 after buying an additional 218,537 shares during the period. PNC Financial Services Group Inc. increased its holdings in Toast by 39.1% in the second quarter. PNC Financial Services Group Inc. now owns 16,665 shares of the company’s stock valued at $738,000 after buying an additional 4,688 shares in the last quarter. Finally, M&G PLC acquired a new stake in shares of Toast in the 2nd quarter worth approximately $11,024,000. 82.91% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling

In other Toast news, CFO Elena Gomez sold 2,021 shares of the business’s stock in a transaction dated Tuesday, November 4th. The shares were sold at an average price of $35.54, for a total value of $71,826.34. Following the completion of the sale, the chief financial officer owned 151,463 shares of the company’s stock, valued at $5,382,995.02. The trade was a 1.32% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, President Stephen Fredette sold 1,732 shares of Toast stock in a transaction on Tuesday, November 4th. The shares were sold at an average price of $35.54, for a total value of $61,555.28. Following the completion of the transaction, the president owned 900,264 shares in the company, valued at approximately $31,995,382.56. The trade was a 0.19% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Over the last quarter, insiders sold 62,259 shares of company stock valued at $2,299,020. Corporate insiders own 12.14% of the company’s stock.

Toast Stock Down 4.3%

NYSE:TOST opened at $36.71 on Friday. Toast, Inc. has a 12 month low of $28.12 and a 12 month high of $49.66. The firm has a market cap of $18.91 billion, a price-to-earnings ratio of 85.37 and a beta of 1.94. The company’s 50 day moving average is $37.89 and its 200-day moving average is $41.44.

Toast (NYSE:TOST) last announced its quarterly earnings data on Tuesday, November 4th. The company reported $0.16 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.24 by ($0.08). The business had revenue of $1.63 billion during the quarter, compared to analyst estimates of $1.58 billion. Toast had a net margin of 4.68% and a return on equity of 15.77%. The company’s quarterly revenue was up 25.1% compared to the same quarter last year. During the same quarter in the prior year, the company posted $0.07 EPS. Research analysts predict that Toast, Inc. will post 0.39 EPS for the current fiscal year.

Wall Street Analyst Weigh In

TOST has been the topic of a number of analyst reports. Deutsche Bank Aktiengesellschaft assumed coverage on Toast in a report on Thursday, July 17th. They set a “buy” rating and a $54.00 target price on the stock. DA Davidson set a $42.00 price objective on Toast in a research note on Wednesday, November 5th. The Goldman Sachs Group cut their price target on Toast from $51.00 to $41.00 and set a “neutral” rating on the stock in a research note on Monday, October 13th. Keefe, Bruyette & Woods cut their target price on shares of Toast from $50.00 to $42.00 and set a “market perform” rating on the stock in a research note on Wednesday, October 1st. Finally, Jefferies Financial Group decreased their price target on Toast from $54.00 to $45.00 and set a “buy” rating for the company in a research note on Wednesday, November 5th. Two analysts have rated the stock with a Strong Buy rating, twelve have given a Buy rating and ten have issued a Hold rating to the stock. Based on data from MarketBeat, Toast presently has a consensus rating of “Moderate Buy” and a consensus target price of $45.45.

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.