Canada Pension Plan Investment Board Increases Stock Position in Toast, Inc. (NYSE:TOST)

Canada Pension Plan Investment Board boosted its holdings in Toast, Inc. (NYSE:TOST) by 15.8% in the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 640,200 shares of the company’s stock after buying an additional 87,500 shares during the period. Canada Pension Plan Investment Board owned approximately 0.14% of Toast worth $16,498,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds and other institutional investors have also bought and sold shares of TOST. Park Avenue Securities LLC boosted its position in shares of Toast by 1.0% in the first quarter. Park Avenue Securities LLC now owns 43,357 shares of the company’s stock valued at $1,080,000 after acquiring an additional 436 shares during the period. Wellington Shields & Co. LLC grew its position in shares of Toast by 3.1% during the 1st quarter. Wellington Shields & Co. LLC now owns 16,700 shares of the company’s stock valued at $416,000 after purchasing an additional 500 shares in the last quarter. Parkside Financial Bank & Trust increased its holdings in shares of Toast by 8.4% in the second quarter. Parkside Financial Bank & Trust now owns 6,742 shares of the company’s stock worth $174,000 after purchasing an additional 520 shares during the period. Comerica Bank raised its position in shares of Toast by 10.9% in the first quarter. Comerica Bank now owns 6,167 shares of the company’s stock worth $154,000 after buying an additional 607 shares in the last quarter. Finally, Values First Advisors Inc. boosted its stake in Toast by 2.7% during the second quarter. Values First Advisors Inc. now owns 31,342 shares of the company’s stock valued at $808,000 after buying an additional 811 shares during the period. Institutional investors own 82.91% of the company’s stock.

Toast Price Performance

Shares of Toast stock opened at $27.65 on Tuesday. Toast, Inc. has a one year low of $13.77 and a one year high of $28.19. The business’s 50 day simple moving average is $25.12 and its two-hundred day simple moving average is $24.60. The stock has a market capitalization of $12.53 billion, a P/E ratio of -55.30 and a beta of 1.75.

Toast (NYSE:TOST) last issued its earnings results on Tuesday, August 6th. The company reported $0.02 EPS for the quarter, topping the consensus estimate of ($0.02) by $0.04. The company had revenue of $1.24 billion for the quarter, compared to the consensus estimate of $1.22 billion. Toast had a negative net margin of 3.10% and a negative return on equity of 11.27%. The firm’s revenue for the quarter was up 27.0% on a year-over-year basis. During the same period in the previous year, the firm earned ($0.19) earnings per share. Sell-side analysts expect that Toast, Inc. will post -0.1 earnings per share for the current fiscal year.

Insider Activity

In related news, CEO Aman Narang sold 6,355 shares of the firm’s stock in a transaction dated Tuesday, July 2nd. The stock was sold at an average price of $25.64, for a total value of $162,942.20. Following the sale, the chief executive officer now directly owns 1,131,043 shares of the company’s stock, valued at $28,999,942.52. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In related news, CEO Aman Narang sold 6,355 shares of the firm’s stock in a transaction on Tuesday, July 2nd. The stock was sold at an average price of $25.64, for a total value of $162,942.20. Following the completion of the sale, the chief executive officer now owns 1,131,043 shares of the company’s stock, valued at $28,999,942.52. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, General Counsel Brian R. Elworthy sold 2,573 shares of the business’s stock in a transaction on Wednesday, July 3rd. The shares were sold at an average price of $25.64, for a total transaction of $65,971.72. Following the transaction, the general counsel now directly owns 170,531 shares in the company, valued at $4,372,414.84. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 652,412 shares of company stock valued at $16,213,120. Insiders own 13.32% of the company’s stock.

Analyst Upgrades and Downgrades

A number of brokerages have weighed in on TOST. Wedbush upgraded Toast to a “strong-buy” rating in a research note on Friday, September 6th. The Goldman Sachs Group reaffirmed a “buy” rating and issued a $29.00 target price on shares of Toast in a research note on Thursday, September 12th. JPMorgan Chase & Co. boosted their price target on shares of Toast from $25.00 to $28.00 and gave the stock a “neutral” rating in a research note on Tuesday, August 20th. Needham & Company LLC restated a “buy” rating and set a $30.00 price objective on shares of Toast in a research report on Wednesday, August 7th. Finally, Keefe, Bruyette & Woods reiterated a “market perform” rating and issued a $26.00 target price on shares of Toast in a research report on Wednesday, May 29th. One analyst has rated the stock with a sell rating, eight have issued a hold rating, nine have given a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat.com, Toast currently has an average rating of “Moderate Buy” and a consensus price target of $28.33.

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.