AustralianSuper Pty Ltd Boosts Holdings in Toast, Inc. $TOST

AustralianSuper Pty Ltd boosted its position in shares of Toast, Inc. (NYSE:TOST) by 9.9% during the 3rd quarter, according to its most recent 13F filing with the SEC. The fund owned 1,100,256 shares of the company’s stock after purchasing an additional 98,763 shares during the quarter. AustralianSuper Pty Ltd owned about 0.22% of Toast worth $40,170,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also bought and sold shares of the company. Quent Capital LLC bought a new position in shares of Toast in the third quarter worth approximately $27,000. RiverPark Advisors LLC bought a new position in Toast in the 2nd quarter valued at approximately $30,000. Alpine Bank Wealth Management purchased a new stake in Toast during the 3rd quarter valued at $30,000. Ameritas Advisory Services LLC purchased a new stake in Toast during the 2nd quarter valued at $31,000. Finally, REAP Financial Group LLC increased its holdings in shares of Toast by 173.3% in the 2nd quarter. REAP Financial Group LLC now owns 798 shares of the company’s stock worth $35,000 after purchasing an additional 506 shares in the last quarter. 82.91% of the stock is currently owned by institutional investors.

Toast Trading Down 2.0%

Shares of TOST stock opened at $31.84 on Thursday. Toast, Inc. has a 12 month low of $28.12 and a 12 month high of $49.66. The stock has a market cap of $16.40 billion, a P/E ratio of 74.03 and a beta of 1.93. The company has a 50 day simple moving average of $34.84 and a two-hundred day simple moving average of $38.74.

Toast (NYSE:TOST) last issued its quarterly 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). The business had revenue of $1.63 billion for the quarter, compared to analysts’ expectations of $1.58 billion. Toast had a return on equity of 15.77% and a net margin of 4.68%.The company’s revenue was up 25.1% compared to the same quarter last year. During the same quarter in the prior year, the business earned $0.07 EPS. As a group, equities analysts forecast that Toast, Inc. will post 0.39 earnings per share for the current year.

Insiders Place Their Bets

In related news, CFO Elena Gomez sold 6,672 shares of the business’s stock in a transaction that occurred on Monday, January 5th. The stock was sold at an average price of $34.38, for a total transaction of $229,383.36. Following the completion of the transaction, the chief financial officer directly owned 162,153 shares in the company, valued at approximately $5,574,820.14. The trade was a 3.95% decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, CEO Aman Narang sold 8,591 shares of the firm’s stock in a transaction that occurred on Monday, January 5th. The stock was sold at an average price of $34.38, for a total transaction of $295,358.58. Following the sale, the chief executive officer owned 338,850 shares in the company, valued at approximately $11,649,663. The trade was a 2.47% decrease in their position. The disclosure for this sale is available in the SEC filing. Over the last 90 days, insiders have sold 102,595 shares of company stock valued at $3,634,737. 12.14% of the stock is currently owned by corporate insiders.

Analyst Upgrades and Downgrades

TOST has been the topic of a number of research analyst reports. Citigroup raised Toast to a “strong-buy” rating in a report on Thursday, October 23rd. The Goldman Sachs Group decreased their target price on Toast from $51.00 to $41.00 and set a “neutral” rating for the company in a research report on Monday, October 13th. Keefe, Bruyette & Woods dropped their price target on shares of Toast from $50.00 to $42.00 and set a “market perform” rating on the stock in a report on Wednesday, October 1st. Truist Financial set a $42.00 price target on shares of Toast in a research note on Tuesday, January 20th. Finally, UBS Group restated a “buy” rating on shares of Toast in a research report on Thursday, December 18th. Two equities research analysts have rated the stock with a Strong Buy rating, thirteen have issued a Buy rating and eight have given a Hold rating to the company. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $45.82.

Toast Company Profile

Toast, Inc (NYSE: TOST) is a technology company that builds a cloud-based platform for restaurants and other foodservice businesses. Headquartered in Boston, Massachusetts, Toast offers integrated point-of-sale (POS) systems and a suite of software and hardware designed to streamline front-of-house and back-of-house operations. The company went public in 2021 and has positioned itself as a vertically integrated provider for the restaurant industry.

Toast’s product portfolio includes touchscreen POS terminals and handheld order-and-pay devices, kitchen display systems, and peripherals tailored for high-volume foodservice environments.