AustralianSuper Pty Ltd Makes New Investment in Toast, Inc. $TOST

AustralianSuper Pty Ltd acquired a new position in shares of Toast, Inc. (NYSE:TOST) in the 2nd quarter, according to its most recent filing with the SEC. The fund acquired 1,001,493 shares of the company’s stock, valued at approximately $44,356,000. AustralianSuper Pty Ltd owned approximately 0.20% of Toast at the end of the most recent quarter.

Other large investors also recently bought and sold shares of the company. Ameritas Advisory Services LLC purchased a new stake in Toast during the 2nd quarter worth approximately $31,000. REAP Financial Group LLC increased its stake in Toast by 173.3% during the 2nd quarter. REAP Financial Group LLC now owns 798 shares of the company’s stock worth $35,000 after buying an additional 506 shares in the last quarter. Whipplewood Advisors LLC increased its stake in Toast by 2,356.1% during the 2nd quarter. Whipplewood Advisors LLC now owns 1,007 shares of the company’s stock worth $45,000 after buying an additional 966 shares in the last quarter. Cullen Frost Bankers Inc. increased its stake in Toast by 1,383.8% during the 2nd quarter. Cullen Frost Bankers Inc. now owns 1,009 shares of the company’s stock worth $45,000 after buying an additional 941 shares in the last quarter. Finally, Wayfinding Financial LLC purchased a new stake in Toast during the 1st quarter worth approximately $34,000. 82.91% of the stock is currently owned by hedge funds and other institutional investors.

Toast Stock Performance

TOST opened at $38.32 on Monday. Toast, Inc. has a one year low of $28.12 and a one year high of $49.66. The stock has a market capitalization of $19.54 billion, a PE ratio of 112.71 and a beta of 1.94. The business’s 50 day moving average price is $39.70 and its 200 day moving average price is $41.25.

Toast (NYSE:TOST) last released its quarterly earnings data on Tuesday, August 5th. The company reported $0.13 EPS for the quarter, missing analysts’ consensus estimates of $0.23 by ($0.10). Toast had a net margin of 4.07% and a return on equity of 14.19%. The business had revenue of $1.55 billion during the quarter, compared to analyst estimates of $1.52 billion. During the same quarter in the prior year, the company posted $0.02 earnings per share. The company’s revenue was up 24.8% on a year-over-year basis. As a group, equities research analysts forecast that Toast, Inc. will post 0.39 earnings per share for the current fiscal year.

Insider Transactions at Toast

In related news, CEO Aman Narang sold 13,652 shares of the company’s stock in a transaction that occurred on Thursday, October 2nd. The stock was sold at an average price of $35.56, for a total value of $485,465.12. Following the transaction, the chief executive officer directly owned 318,150 shares in the company, valued at approximately $11,313,414. This represents a 4.11% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, President Stephen Fredette sold 7,550 shares of the company’s stock in a transaction that occurred on Thursday, October 2nd. The shares were sold at an average price of $35.56, for a total value of $268,478.00. Following the completion of the transaction, the president owned 898,475 shares in the company, valued at $31,949,771. This represents a 0.83% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 62,196 shares of company stock valued at $2,398,513 in the last ninety days. 12.14% of the stock is currently owned by corporate insiders.

Wall Street Analyst Weigh In

A number of research firms have recently issued reports on TOST. Jefferies Financial Group upped their price target on Toast from $50.00 to $54.00 and gave the company a “buy” rating in a research report on Friday, July 18th. Morgan Stanley upped their price target on Toast from $50.00 to $54.00 and gave the company an “overweight” rating in a research report on Wednesday, August 6th. JPMorgan Chase & Co. upped their price target on Toast from $42.00 to $52.00 and gave the company a “neutral” rating in a research report on Wednesday, August 6th. Wells Fargo & Company upgraded Toast to a “strong-buy” rating in a research report on Wednesday, October 22nd. Finally, Weiss Ratings restated a “hold (c)” rating on shares of Toast in a research report on Friday. Two research analysts have rated the stock with a Strong Buy rating, thirteen have issued a Buy rating and ten have assigned a Hold rating to the company’s stock. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $46.17.

Toast 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.