Alberta Investment Management Corp Decreases Stake in Toast, Inc. $TOST

Alberta Investment Management Corp reduced its stake in Toast, Inc. (NYSE:TOST) by 11.7% during the 2nd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 100,200 shares of the company’s stock after selling 13,300 shares during the period. Alberta Investment Management Corp’s holdings in Toast were worth $4,438,000 as of its most recent SEC filing.

Several other institutional investors have also modified their holdings of the stock. Roundview Capital LLC grew its position in shares of Toast by 0.6% during the second quarter. Roundview Capital LLC now owns 43,619 shares of the company’s stock worth $1,932,000 after acquiring an additional 245 shares during the last quarter. GAMMA Investing LLC boosted its stake in Toast by 7.2% during the 2nd quarter. GAMMA Investing LLC now owns 4,139 shares of the company’s stock worth $183,000 after purchasing an additional 278 shares during the period. SBI Securities Co. Ltd. grew its position in Toast by 29.2% during the 1st quarter. SBI Securities Co. Ltd. now owns 1,257 shares of the company’s stock worth $42,000 after purchasing an additional 284 shares during the last quarter. True Vision MN LLC increased its stake in Toast by 3.6% in the second quarter. True Vision MN LLC now owns 8,186 shares of the company’s stock valued at $363,000 after purchasing an additional 285 shares during the period. Finally, Stonekeep Investments LLC raised its holdings in shares of Toast by 4.0% in the first quarter. Stonekeep Investments LLC now owns 7,791 shares of the company’s stock valued at $258,000 after buying an additional 297 shares during the last quarter. Hedge funds and other institutional investors own 82.91% of the company’s stock.

Insider Buying and Selling

In other news, President Stephen Fredette sold 7,550 shares of the 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 completion of the transaction, the president directly owned 898,475 shares in the company, valued at $31,949,771. This trade represents a 0.83% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, CRO Jonathan Vassil sold 6,530 shares of the business’s 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 completion of the sale, the executive owned 69,932 shares in the company, valued at approximately $2,486,781.92. This trade represents a 8.54% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. In the last 90 days, insiders have sold 62,259 shares of company stock valued at $2,299,020. Company insiders own 12.14% of the company’s stock.

Toast Trading Down 2.4%

Shares of TOST stock opened at $35.82 on Monday. The company’s fifty day simple moving average is $37.78 and its 200-day simple moving average is $41.52. Toast, Inc. has a 52 week low of $28.12 and a 52 week high of $49.66. The company has a market cap of $18.45 billion, a PE ratio of 83.30 and a beta of 1.94.

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

Analyst Ratings Changes

Several research firms recently issued reports on TOST. Needham & Company LLC increased their price target on shares of Toast from $50.00 to $60.00 and gave the stock a “buy” rating in a report on Wednesday, August 6th. Jefferies Financial Group dropped their target price on Toast from $54.00 to $45.00 and set a “buy” rating on the stock in a research report on Wednesday, November 5th. Royal Bank Of Canada set a $45.00 target price on Toast in a research note on Wednesday, November 5th. Wolfe Research restated an “outperform” rating and issued a $48.00 price target on shares of Toast in a research note on Wednesday, November 5th. Finally, Wells Fargo & Company raised Toast to a “strong-buy” rating in a report on Wednesday, October 22nd. Two investment analysts have rated the stock with a Strong Buy rating, twelve have assigned a Buy rating and ten have given a Hold rating to the stock. Based on data from MarketBeat.com, Toast has a consensus rating of “Moderate Buy” and an average price target 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.