BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp Buys 26,436 Shares of Toast, Inc. (NYSE:TOST)

BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp boosted its stake in Toast, Inc. (NYSE:TOST) by 65.2% in the 2nd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 67,001 shares of the company’s stock after purchasing an additional 26,436 shares during the quarter. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp’s holdings in Toast were worth $1,727,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors and hedge funds have also recently modified their holdings of the business. US Bancorp DE raised its holdings in shares of Toast by 37.5% during the 4th quarter. US Bancorp DE now owns 52,142 shares of the company’s stock valued at $952,000 after buying an additional 14,221 shares in the last quarter. Hsbc Holdings PLC boosted its position in shares of Toast by 76.7% during the fourth quarter. Hsbc Holdings PLC now owns 90,222 shares of the company’s stock valued at $1,651,000 after purchasing an additional 39,166 shares in the last quarter. TD Asset Management Inc raised its stake in Toast by 7.0% during the fourth quarter. TD Asset Management Inc now owns 115,148 shares of the company’s stock valued at $2,103,000 after buying an additional 7,500 shares during the last quarter. Treasurer of the State of North Carolina raised its stake in Toast by 1.0% during the fourth quarter. Treasurer of the State of North Carolina now owns 157,138 shares of the company’s stock valued at $2,869,000 after buying an additional 1,540 shares during the last quarter. Finally, Bank of Nova Scotia purchased a new position in Toast during the fourth quarter valued at $332,000. Hedge funds and other institutional investors own 82.91% of the company’s stock.

Insider Buying and Selling at Toast

In other Toast news, General Counsel Brian R. Elworthy sold 2,573 shares of Toast stock in a transaction on Wednesday, July 3rd. The stock was sold at an average price of $25.64, for a total transaction of $65,971.72. Following the completion of the sale, the general counsel now directly owns 170,531 shares of the company’s stock, valued at approximately $4,372,414.84. The sale was disclosed in a filing with the SEC, which is available at the SEC website. In related news, President Stephen Fredette sold 3,810 shares of the business’s stock in a transaction on Tuesday, July 2nd. The stock was sold at an average price of $25.64, for a total transaction of $97,688.40. Following the transaction, the president now directly owns 2,847,315 shares in the company, valued at approximately $73,005,156.60. The sale was disclosed in a document filed with the SEC, which can be accessed through this link. Also, General Counsel Brian R. Elworthy sold 2,573 shares of the business’s stock in a transaction on Wednesday, July 3rd. The stock was sold at an average price of $25.64, for a total value of $65,971.72. Following the transaction, the general counsel now owns 170,531 shares in the company, valued at $4,372,414.84. The disclosure for this sale can be found here. Insiders sold a total of 792,207 shares of company stock valued at $20,064,469 in the last ninety days. Corporate insiders own 13.32% of the company’s stock.

Toast Price Performance

Shares of TOST stock opened at $28.00 on Monday. Toast, Inc. has a 1 year low of $13.77 and a 1 year high of $29.92. The stock’s 50 day simple moving average is $25.17 and its two-hundred day simple moving average is $24.68. The company has a market cap of $12.68 billion, a PE ratio of -56.00 and a beta of 1.75.

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

Analysts Set New Price Targets

Several research analysts have recently weighed in on TOST shares. JPMorgan Chase & Co. boosted their price target on Toast from $25.00 to $28.00 and gave the stock a “neutral” rating in a research note on Tuesday, August 20th. Morgan Stanley upped their price objective on Toast from $29.00 to $30.00 and gave the company an “overweight” rating in a research report on Wednesday, August 7th. The Goldman Sachs Group reissued a “buy” rating and set a $29.00 price target on shares of Toast in a report on Thursday, September 12th. Needham & Company LLC reissued a “buy” rating and set a $30.00 price target on shares of Toast in a report on Wednesday, August 7th. Finally, Bank of America upped their price objective on Toast from $26.00 to $28.00 and gave the stock a “neutral” rating in a research note on Tuesday, September 17th. One equities research 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. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $28.33.

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.