Nomura Holdings Inc. Sells 542,066 Shares of Toast, Inc. $TOST

by · The Cerbat Gem

Nomura Holdings Inc. reduced its position in shares of Toast, Inc. (NYSE:TOST – Free Report) by 71.5% in the second quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 215,663 shares of the company’s stock after selling 542,066 shares during the quarter. Nomura Holdings Inc.’s holdings in Toast were worth $9,552,000 as of its most recent SEC filing.

Several other institutional investors have also recently made changes to their positions in the business. RiverPark Advisors LLC bought a new position in shares of Toast in the 2nd quarter worth approximately $30,000. Ameritas Advisory Services LLC purchased a new stake in Toast during the second quarter valued at approximately $31,000. REAP Financial Group LLC raised its position in Toast by 173.3% in the second quarter. REAP Financial Group LLC now owns 798 shares of the company’s stock worth $35,000 after acquiring an additional 506 shares during the period. Motco purchased a new position in shares of Toast during the 2nd quarter worth $44,000. Finally, Loomis Sayles & Co. L P purchased a new position in shares of Toast during the 2nd quarter worth $42,000. Institutional investors own 82.91% of the company’s stock.

Insider Activity

In other news, President Stephen Fredette sold 1,732 shares of the business’s 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 transaction, the president owned 900,264 shares of the company’s stock, valued at approximately $31,995,382.56. The trade was a 0.19% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CEO Aman Narang sold 1,732 shares of the firm’s stock in a transaction on Tuesday, November 4th. The shares were 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 of the company’s stock, valued at $11,370,632.06. The trade was a 0.54% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Over the last 90 days, insiders have sold 49,759 shares of company stock valued at $1,769,270. Company insiders own 12.14% of the company’s stock.

Toast Stock Down 2.0%

NYSE TOST opened at $35.26 on Monday. Toast, Inc. has a twelve month low of $28.12 and a twelve month high of $49.66. The business has a 50-day moving average price of $35.98 and a 200-day moving average price of $40.56. The firm has a market cap of $18.16 billion, a price-to-earnings ratio of 82.00 and a beta of 1.94.

Toast (NYSE:TOST – Get Free Report) last issued its earnings results on Tuesday, November 4th. The company reported $0.16 earnings per share (EPS) 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 the consensus estimate of $1.58 billion. During the same period last year, the business posted $0.07 EPS. The firm’s revenue for the quarter was up 25.1% compared to the same quarter last year. Research analysts expect that Toast, Inc. will post 0.39 EPS for the current fiscal year.

Analyst Ratings Changes

Several equities research analysts have recently commented on TOST shares. Wall Street Zen upgraded Toast from a “hold” rating to a “buy” rating in a research note on Friday, October 3rd. Wolfe Research restated an “outperform” rating and issued a $48.00 price target on shares of Toast in a research report on Wednesday, November 5th. Morgan Stanley lifted their price objective on Toast from $54.00 to $56.00 and gave the company an “overweight” rating in a research report on Wednesday, November 5th. Jefferies Financial Group cut their price objective on Toast from $54.00 to $45.00 and set a “buy” rating for the company in a research note on Wednesday, November 5th. Finally, Wells Fargo & Company upgraded shares of Toast to a “strong-buy” rating in a research note on Wednesday, October 22nd. Two analysts have rated the stock with a Strong Buy rating, fourteen have issued a Buy rating and eight have given a Hold rating to the stock. Based on data from MarketBeat.com, Toast presently has an average rating of “Moderate Buy” and a consensus target price of $45.18.

Check Out Our Latest Stock Analysis on TOST

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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