Toast, Inc. $TOST Shares Sold by Allianz Asset Management GmbH

Allianz Asset Management GmbH decreased its holdings in Toast, Inc. (NYSE:TOST) by 19.4% in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor 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 Securities & Exchange Commission.

Several other institutional investors have also modified their holdings of TOST. Principal Financial Group Inc. grew its stake in shares of Toast by 14,258.8% in the first quarter. Principal Financial Group Inc. now owns 5,474,443 shares of the company’s stock worth $181,587,000 after acquiring an additional 5,436,317 shares in the last quarter. Price T Rowe Associates Inc. MD grew its stake in shares of Toast by 17.5% in the first quarter. Price T Rowe Associates Inc. MD now owns 23,454,209 shares of the company’s stock worth $777,978,000 after acquiring an additional 3,490,686 shares in the last quarter. 1832 Asset Management L.P. acquired a new position in shares of Toast in the first quarter worth $86,650,000. HMI Capital Management L.P. grew its stake in shares of Toast by 57.7% in the first quarter. HMI Capital Management L.P. now owns 5,203,183 shares of the company’s stock worth $172,590,000 after acquiring an additional 1,904,040 shares in the last quarter. Finally, Nuveen LLC acquired a new position in shares of Toast in the first quarter worth $56,473,000. Institutional investors and hedge funds own 82.91% of the company’s stock.

Insider Transactions at Toast

In related news, President Stephen Fredette sold 7,550 shares of the stock in a transaction 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 transaction, the president directly owned 898,475 shares of the company’s stock, valued at $31,949,771. This trade represents a 0.83% decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, Director Paul D. Bell sold 12,500 shares of the firm’s stock in a transaction on Thursday, August 21st. The stock was sold at an average price of $42.38, for a total transaction of $529,750.00. Following the transaction, the director directly owned 226,892 shares in the company, valued at $9,615,682.96. The trade was a 5.22% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders sold 62,196 shares of company stock worth $2,398,513. Insiders own 12.14% of the company’s stock.

Toast Price Performance

NYSE TOST opened at $38.85 on Friday. The firm’s fifty day moving average price is $39.79 and its 200 day moving average price is $41.06. The company has a market capitalization of $19.81 billion, a price-to-earnings ratio of 114.26 and a beta of 1.94. Toast, Inc. has a 12 month low of $28.12 and a 12 month high of $49.66.

Toast (NYSE:TOST) last posted its 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 company had revenue of $1.55 billion during the quarter, compared to analysts’ expectations of $1.52 billion. Toast had a net margin of 4.07% and a return on equity of 14.19%. The company’s quarterly revenue was up 24.8% on a year-over-year basis. During the same period last year, the business earned $0.02 earnings per share. As a group, sell-side analysts forecast that Toast, Inc. will post 0.39 earnings per share for the current year.

Analysts Set New Price Targets

Several research firms have commented on TOST. Morgan Stanley boosted their price target 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. Canaccord Genuity Group increased their price objective on shares of Toast from $48.00 to $54.00 and gave the company a “buy” rating in a research report on Wednesday, August 6th. Keefe, Bruyette & Woods dropped their price objective on shares of Toast from $50.00 to $42.00 and set a “market perform” rating on the stock in a research report on Wednesday, October 1st. Truist Financial increased their price objective on shares of Toast from $48.00 to $50.00 and gave the company a “buy” rating in a research report on Thursday, July 17th. Finally, Barclays reissued an “overweight” rating on shares of Toast in a research report on Wednesday, July 16th. One equities research analyst has rated the stock with a Strong Buy rating, fourteen have issued a Buy rating and ten have issued a Hold rating to the company. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average price target of $46.30.

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.