Allianz Asset Management GmbH Lowers Stake in Toast, Inc. $TOST

Allianz Asset Management GmbH reduced its holdings in shares of Toast, Inc. (NYSE:TOST) by 19.4% during the 2nd quarter, HoldingsChannel reports. The firm owned 85,962 shares of the company’s stock after selling 20,710 shares during the period. Allianz Asset Management GmbH’s holdings in Toast were worth $3,807,000 as of its most recent filing with the SEC.

Several other hedge funds and other institutional investors also recently bought and sold shares of TOST. Ameritas Advisory Services LLC purchased a new position in Toast during the 2nd quarter worth $31,000. Wayfinding Financial LLC acquired a new stake in shares of Toast in the 1st quarter worth $34,000. REAP Financial Group LLC lifted its stake 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 acquiring an additional 506 shares during the period. SBI Securities Co. Ltd. lifted its stake in shares of Toast by 29.2% in the 1st quarter. SBI Securities Co. Ltd. now owns 1,257 shares of the company’s stock worth $42,000 after acquiring an additional 284 shares during the period. Finally, Signaturefd LLC lifted its stake in shares of Toast by 227.1% in the 1st quarter. Signaturefd LLC now owns 1,472 shares of the company’s stock worth $49,000 after acquiring an additional 1,022 shares during the period. 82.91% of the stock is owned by hedge funds and other institutional investors.

Toast Stock Up 1.9%

Shares of NYSE TOST opened at $38.85 on Friday. Toast, Inc. has a 52 week low of $28.12 and a 52 week high of $49.66. The firm has a 50-day moving average price of $39.79 and a 200 day moving average price of $41.06. The stock has a market capitalization of $19.81 billion, a price-to-earnings ratio of 114.26 and a beta of 1.94.

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

Wall Street Analysts Forecast Growth

Several analysts have recently commented on TOST shares. Deutsche Bank Aktiengesellschaft started coverage on shares of Toast in a research note on Thursday, July 17th. They issued a “buy” rating and a $54.00 target price for the company. Barclays restated an “overweight” rating on shares of Toast in a research note on Wednesday, July 16th. Morgan Stanley raised their target price on shares of Toast from $50.00 to $54.00 and gave the stock an “overweight” rating in a research note on Wednesday, August 6th. Citigroup started coverage on shares of Toast in a research note on Wednesday. They issued a “buy” rating and a $51.00 target price for the company. Finally, Jefferies Financial Group raised their target price on shares of Toast from $50.00 to $54.00 and gave the stock a “buy” rating in a research note on Friday, July 18th. One analyst has rated the stock with a Strong Buy rating, fourteen have given a Buy rating and ten have issued a Hold rating to the company. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $46.30.

Insider Activity at Toast

In other Toast news, Director Paul D. Bell sold 12,500 shares of Toast stock in a transaction dated Thursday, August 21st. The shares were sold at an average price of $42.38, for a total transaction of $529,750.00. Following the completion of the transaction, the director owned 226,892 shares in the company, valued at approximately $9,615,682.96. The trade was a 5.22% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, CRO Jonathan Vassil sold 6,530 shares of Toast stock in a transaction dated Thursday, October 2nd. The stock was sold at an average price of $35.56, for a total transaction of $232,206.80. Following the transaction, the executive owned 69,932 shares of the company’s stock, valued at approximately $2,486,781.92. The trade was a 8.54% decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 62,196 shares of company stock valued at $2,398,513 in the last quarter. 12.14% of the stock is owned by corporate insiders.

Toast Company 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.