Toast, Inc. $TOST Stock: Candriam S.C.A. Raises Stake

Candriam S.C.A. lifted its stake in shares of Toast, Inc. (NYSE:TOST) by 447.2% in the third quarter, Holdings Channel.com reports. The fund owned 272,659 shares of the company’s stock after acquiring an additional 222,834 shares during the quarter. Candriam S.C.A.’s holdings in Toast were worth $7,933,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. HB Wealth Management LLC increased its position in Toast by 2.5% during the 2nd quarter. HB Wealth Management LLC now owns 12,748 shares of the company’s stock valued at $355,000 after purchasing an additional 315 shares during the period. Americana Partners LLC raised its holdings in Toast by 4.0% during the 3rd quarter. Americana Partners LLC now owns 11,086 shares of the company’s stock worth $321,000 after purchasing an additional 422 shares during the last quarter. Hickory Point Bank & Trust raised its holdings in Toast by 10.0% during the 3rd quarter. Hickory Point Bank & Trust now owns 5,500 shares of the company’s stock worth $159,000 after purchasing an additional 500 shares during the last quarter. Toth Financial Advisory Corp lifted its position in shares of Toast by 16.9% in the 3rd quarter. Toth Financial Advisory Corp now owns 3,561 shares of the company’s stock worth $103,000 after purchasing an additional 516 shares during the period. Finally, Canvas Wealth Advisors LLC lifted its position in shares of Toast by 4.2% in the 3rd quarter. Canvas Wealth Advisors LLC now owns 12,923 shares of the company’s stock worth $407,000 after purchasing an additional 524 shares during the period. 82.91% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of research firms have recently commented on TOST. Barclays upped their price objective on shares of Toast from $35.00 to $39.00 and gave the company an “overweight” rating in a research note on Wednesday, August 5th. Piper Sandler restated an “overweight” rating and issued a $39.00 target price on shares of Toast in a report on Wednesday, November 4th. Needham & Company LLC restated a “buy” rating and issued a $45.00 target price on shares of Toast in a report on Wednesday, November 4th. BNP Paribas Exane lowered Toast from an “outperform” rating to a “neutral” rating and lowered their price objective for the stock from $38.00 to $35.00 in a research report on Wednesday, September 2nd. Finally, DA Davidson boosted their price objective on Toast from $30.00 to $34.00 and gave the company a “neutral” rating in a research note on Monday, August 10th. Seventeen equities research analysts have rated the stock with a Buy rating and eleven have assigned a Hold rating to the company’s stock. According to MarketBeat.com, Toast currently has an average rating of “Moderate Buy” and an average target price of $38.65.

Toast Stock Up 0.3%

NYSE:TOST opened at $34.76 on Tuesday. Toast, Inc. has a twelve month low of $22.26 and a twelve month high of $38.64. The company has a fifty day moving average of $31.85 and a 200-day moving average of $29.42. The firm has a market capitalization of $17.87 billion, a P/E ratio of 38.03 and a beta of 1.74.

Toast (NYSE:TOST) last issued its earnings results on Tuesday, November 3rd. The company reported $0.29 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.37 by ($0.08). The company had revenue of $1.98 billion for the quarter, compared to the consensus estimate of $1.97 billion. Toast had a return on equity of 26.39% and a net margin of 7.69%. The firm’s revenue was up 21.3% compared to the same quarter last year. During the same period in the prior year, the company earned $0.16 earnings per share. On average, analysts anticipate that Toast, Inc. will post 1.00 EPS for the current fiscal year.

Insider Transactions at Toast

In other news, General Counsel Brian R. Elworthy sold 6,507 shares of the firm’s stock in a transaction dated Friday, October 2nd. The stock was sold at an average price of $29.35, for a total value of $190,980.45. Following the completion of the sale, the general counsel directly owned 204,023 shares in the company, valued at $5,988,075.05. This trade represents a 3.09% decrease in their position. The sale was disclosed in a filing with the SEC, which is available at this link. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, CRO Jonathan Vassil sold 4,600 shares of the firm’s stock in a transaction dated Wednesday, November 4th. The shares were sold at an average price of $36.00, for a total value of $165,600.00. Following the completion of the sale, the executive owned 77,424 shares of the company’s stock, valued at approximately $2,787,264. This represents a 5.61% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. In the last quarter, insiders sold 195,933 shares of company stock valued at $6,608,185. 10.03% of the stock is owned by insiders.

Toast Profile

Toast, Inc provides a cloud-based technology platform designed for restaurants. Its products combine point-of-sale software and hardware with payment processing, helping restaurants manage in-person transactions and day-to-day operations.

The platform includes tools for online ordering, delivery, marketing, customer loyalty, payroll, and team management, alongside features for managing menus and restaurant operations. Restaurants can use Toast’s products together or select services to fit their needs.

Founded in 2011 and headquartered in Boston, Toast serves restaurants in the United States and selected international markets.