Toast, Inc. $TOST Shares Purchased by Korea Investment CORP

by · The Markets Daily

Korea Investment CORP lifted its stake in shares of Toast, Inc. (NYSE:TOST – Free Report) by 37.6% during the 2nd quarter, according to its most recent Form 13F filing with the SEC. The fund owned 214,279 shares of the company’s stock after purchasing an additional 58,575 shares during the period. Korea Investment CORP’s holdings in Toast were worth $9,490,000 as of its most recent filing with the SEC.

A number of other hedge funds have also bought and sold shares of TOST. Jennison Associates LLC grew its position in shares of Toast by 331.0% in the 2nd quarter. Jennison Associates LLC now owns 8,601,887 shares of the company’s stock worth $380,978,000 after acquiring an additional 6,606,245 shares in the last quarter. Price T Rowe Associates Inc. MD raised its holdings in shares of Toast by 17.5% during the first quarter. Price T Rowe Associates Inc. MD now owns 23,454,209 shares of the company’s stock worth $777,978,000 after purchasing an additional 3,490,686 shares during the period. 1832 Asset Management L.P. acquired a new position in shares of Toast in the 1st quarter valued at about $86,650,000. HMI Capital Management L.P. grew its holdings in shares of Toast by 57.7% during the first quarter. HMI Capital Management L.P. now owns 5,203,183 shares of the company’s stock valued at $172,590,000 after purchasing an additional 1,904,040 shares during the last quarter. Finally, Nuveen LLC acquired a new stake in shares of Toast during the 1st quarter worth approximately $56,473,000. 82.91% of the stock is currently owned by institutional investors and hedge funds.

Toast Stock Performance

NYSE TOST opened at $34.14 on Monday. The firm’s 50 day moving average price is $36.39 and its two-hundred day moving average price is $41.16. The stock has a market cap of $17.58 billion, a price-to-earnings ratio of 79.40 and a beta of 1.94. Toast, Inc. has a twelve month low of $28.12 and a twelve month high of $49.66.

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

Insider Buying and Selling at Toast

In other Toast news, CEO Aman Narang sold 1,732 shares of the firm’s stock in a transaction dated Tuesday, November 4th. The stock was sold at an average price of $35.54, for a total transaction of $61,555.28. Following the transaction, the chief executive officer directly owned 319,939 shares in the company, valued at $11,370,632.06. This trade represents a 0.54% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, General Counsel Brian R. Elworthy sold 1,059 shares of the business’s stock in a transaction dated Tuesday, November 4th. The stock was sold at an average price of $35.54, for a total value of $37,636.86. Following the completion of the sale, the general counsel directly owned 229,017 shares of the company’s stock, valued at $8,139,264.18. This represents a 0.46% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders sold 49,759 shares of company stock worth $1,769,270 over the last quarter. Insiders own 12.14% of the company’s stock.

Analysts Set New Price Targets

A number of equities research analysts have issued reports on the company. Morgan Stanley raised their target price on Toast from $54.00 to $56.00 and gave the company an “overweight” rating in a research note on Wednesday, November 5th. Wells Fargo & Company raised Toast to a “strong-buy” rating in a report on Wednesday, October 22nd. Robert W. Baird reduced their price target on shares of Toast from $48.00 to $36.00 and set a “neutral” rating for the company in a research note on Monday, October 6th. Weiss Ratings reiterated a “hold (c-)” rating on shares of Toast in a research note on Monday, November 24th. Finally, JPMorgan Chase & Co. cut their target price on Toast from $52.00 to $43.00 and set a “neutral” rating for the company in a research report on Wednesday, November 5th. Two investment analysts have rated the stock with a Strong Buy rating, eleven have issued a Buy rating and ten have assigned a Hold rating to the company’s stock. Based on data from MarketBeat.com, Toast presently has a consensus rating of “Moderate Buy” and a consensus target price of $45.29.

Check Out Our Latest Report on Toast

About Toast

(Free Report)

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.

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