AG2R LA Mondiale Gestion D Actifs Cuts Holdings in Toast, Inc. $TOST

AG2R LA Mondiale Gestion D Actifs reduced its position in Toast, Inc. (NYSE:TOST) by 7.1% during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 22,350 shares of the company’s stock after selling 1,711 shares during the quarter. AG2R LA Mondiale Gestion D Actifs’ holdings in Toast were worth $990,000 as of its most recent filing with the Securities and Exchange Commission.

Other large investors have also made changes to their positions in the company. Principal Financial Group Inc. increased its holdings in Toast by 14,258.8% in the 1st quarter. Principal Financial Group Inc. now owns 5,474,443 shares of the company’s stock valued at $181,587,000 after purchasing an additional 5,436,317 shares in the last quarter. Price T Rowe Associates Inc. MD increased its holdings in Toast by 17.5% in the 1st quarter. Price T Rowe Associates Inc. MD now owns 23,454,209 shares of the company’s stock valued at $777,978,000 after purchasing an additional 3,490,686 shares in the last quarter. 1832 Asset Management L.P. acquired a new stake in Toast in the 1st quarter valued at $86,650,000. HMI Capital Management L.P. increased its holdings in Toast by 57.7% in the 1st 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 in the last quarter. Finally, Nuveen LLC acquired a new stake in Toast in the 1st quarter valued at $56,473,000. 82.91% of the stock is owned by hedge funds and other institutional investors.

Toast Stock Performance

NYSE:TOST opened at $38.32 on Monday. The company has a market capitalization of $19.54 billion, a price-to-earnings ratio of 112.71 and a beta of 1.94. Toast, Inc. has a one year low of $28.12 and a one year high of $49.66. The stock has a 50-day simple moving average of $39.70 and a 200 day simple moving average of $41.25.

Toast (NYSE:TOST) last posted its quarterly earnings results on Tuesday, August 5th. The company reported $0.13 EPS for the quarter, missing analysts’ consensus estimates of $0.23 by ($0.10). The firm had revenue of $1.55 billion during the quarter, compared to analyst estimates of $1.52 billion. Toast had a return on equity of 14.19% and a net margin of 4.07%.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 posted $0.02 earnings per share. On average, equities research analysts forecast that Toast, Inc. will post 0.39 EPS for the current fiscal year.

Insiders Place Their Bets

In related news, CEO Aman Narang sold 13,652 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 value of $485,465.12. Following the completion of the transaction, the chief executive officer directly owned 318,150 shares in the company, valued at approximately $11,313,414. This trade represents a 4.11% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, President Stephen Fredette sold 7,550 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 value of $268,478.00. Following the completion of the transaction, the president owned 898,475 shares of the company’s stock, valued at $31,949,771. This trade represents a 0.83% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 62,196 shares of company stock valued at $2,398,513. 12.14% of the stock is owned by company insiders.

Analyst Upgrades and Downgrades

TOST has been the subject of several recent research reports. Truist Financial set a $47.00 price target on Toast in a report on Friday. DA Davidson increased their price target on Toast from $40.00 to $46.00 and gave the company a “neutral” rating in a report on Tuesday, July 29th. Needham & Company LLC increased their price target on Toast from $50.00 to $60.00 and gave the company a “buy” rating in a report on Wednesday, August 6th. Morgan Stanley increased their price target on Toast from $50.00 to $54.00 and gave the company an “overweight” rating in a report on Wednesday, August 6th. Finally, Wells Fargo & Company upgraded Toast to a “strong-buy” rating in a research note on Wednesday, October 22nd. Two research analysts have rated the stock with a Strong Buy rating, thirteen have given a Buy rating and ten have assigned a Hold rating to the company. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $46.17.

About Toast

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.