Alkeon Capital Management LLC Has $39.86 Million Stock Position in Toast, Inc. $TOST

Alkeon Capital Management LLC grew its stake in Toast, Inc. (NYSE:TOST) by 80.0% during the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 900,000 shares of the company’s stock after purchasing an additional 400,000 shares during the period. Alkeon Capital Management LLC owned approximately 0.18% of Toast worth $39,861,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds and other institutional investors have also modified their holdings of TOST. Ameriprise Financial Inc. grew its position in Toast by 392.6% in the second quarter. Ameriprise Financial Inc. now owns 558,212 shares of the company’s stock valued at $24,723,000 after acquiring an additional 444,903 shares during the period. PDT Partners LLC boosted its stake in shares of Toast by 35.0% in the 2nd quarter. PDT Partners LLC now owns 137,056 shares of the company’s stock valued at $6,070,000 after purchasing an additional 35,500 shares in the last quarter. Nia Impact Advisors LLC grew its holdings in shares of Toast by 41.3% in the 2nd quarter. Nia Impact Advisors LLC now owns 78,617 shares of the company’s stock worth $3,482,000 after purchasing an additional 22,975 shares during the last quarter. California State Teachers Retirement System increased its position in shares of Toast by 11.0% during the 2nd quarter. California State Teachers Retirement System now owns 678,003 shares of the company’s stock worth $30,029,000 after purchasing an additional 67,376 shares in the last quarter. Finally, Raymond James Financial Inc. increased its position in shares of Toast by 81.5% during the 2nd quarter. Raymond James Financial Inc. now owns 1,101,856 shares of the company’s stock worth $48,801,000 after purchasing an additional 494,762 shares in the last quarter. Institutional investors own 82.91% of the company’s stock.

Toast Stock Performance

NYSE:TOST opened at $35.26 on Friday. The company has a market cap of $18.16 billion, a price-to-earnings ratio of 82.00 and a beta of 1.94. The stock’s fifty day moving average price is $35.98 and its two-hundred day moving average price is $40.59. Toast, Inc. has a 52-week low of $28.12 and a 52-week high of $49.66.

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

Analyst Upgrades and Downgrades

A number of equities analysts have commented on the stock. Wall Street Zen upgraded shares of Toast from a “hold” rating to a “buy” rating in a research report on Friday, October 3rd. BNP Paribas Exane raised Toast from a “neutral” rating to an “outperform” rating and set a $40.00 target price on the stock in a report on Monday, December 1st. UBS Group set a $43.00 price target on Toast in a research report on Thursday, December 4th. JPMorgan Chase & Co. upgraded Toast from a “neutral” rating to an “overweight” rating and set a $43.00 price objective for the company in a research report on Thursday, December 4th. Finally, Royal Bank Of Canada set a $45.00 target price on Toast in a report on Wednesday, November 5th. Two investment analysts have rated the stock with a Strong Buy rating, fourteen have given a Buy rating and eight have given a Hold rating to the company. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $45.18.

Insider Activity

In related news, CRO Jonathan Vassil sold 1,442 shares of the business’s stock in a transaction that occurred on Tuesday, November 4th. The shares were sold at an average price of $35.54, for a total transaction of $51,248.68. Following the completion of the sale, the executive directly owned 71,424 shares of the company’s stock, valued at $2,538,408.96. The trade was a 1.98% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at this link. Also, General Counsel Brian R. Elworthy sold 1,059 shares of the firm’s stock in a transaction that occurred on Tuesday, November 4th. The shares were sold at an average price of $35.54, for a total transaction of $37,636.86. Following the completion of the transaction, the general counsel directly owned 229,017 shares in the company, valued at approximately $8,139,264.18. The trade was a 0.46% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. In the last three months, insiders sold 49,759 shares of company stock worth $1,769,270. Corporate insiders own 12.14% of the company’s stock.

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.