Alberta Investment Management Corp Boosts Position in Toast, Inc. (NYSE:TOST)

Alberta Investment Management Corp grew its holdings in Toast, Inc. (NYSE:TOST) by 1.1% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 99,200 shares of the company’s stock after acquiring an additional 1,100 shares during the period. Alberta Investment Management Corp’s holdings in Toast were worth $3,616,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently made changes to their positions in TOST. Makena Capital Management LLC boosted its position in Toast by 7.6% in the 3rd quarter. Makena Capital Management LLC now owns 274,392 shares of the company’s stock worth $7,768,000 after purchasing an additional 19,371 shares in the last quarter. KBC Group NV increased its holdings in Toast by 66.5% in the 3rd quarter. KBC Group NV now owns 42,838 shares of the company’s stock worth $1,213,000 after acquiring an additional 17,106 shares in the last quarter. Geode Capital Management LLC increased its holdings in Toast by 2.3% in the 3rd quarter. Geode Capital Management LLC now owns 6,865,934 shares of the company’s stock worth $193,992,000 after acquiring an additional 155,212 shares in the last quarter. MML Investors Services LLC raised its position in Toast by 40.6% during the third quarter. MML Investors Services LLC now owns 228,313 shares of the company’s stock worth $6,464,000 after acquiring an additional 65,957 shares during the period. Finally, Qsemble Capital Management LP lifted its holdings in Toast by 52.1% during the third quarter. Qsemble Capital Management LP now owns 67,796 shares of the company’s stock valued at $1,919,000 after purchasing an additional 23,231 shares in the last quarter. Institutional investors and hedge funds own 82.91% of the company’s stock.

Toast Stock Up 1.2 %

TOST stock opened at $40.45 on Friday. Toast, Inc. has a 52-week low of $20.49 and a 52-week high of $44.12. The business has a fifty day moving average of $38.60 and a two-hundred day moving average of $33.35. The stock has a market cap of $19.05 billion, a price-to-earnings ratio of -311.12, a price-to-earnings-growth ratio of 2.27 and a beta of 1.98.

Toast (NYSE:TOST) last issued its quarterly earnings data on Wednesday, February 19th. The company reported $0.05 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.06 by ($0.01). The company had revenue of $1.34 billion during the quarter, compared to analysts’ expectations of $1.32 billion. Toast had a negative net margin of 1.05% and a negative return on equity of 3.84%. As a group, sell-side analysts anticipate that Toast, Inc. will post 0.03 EPS for the current year.

Wall Street Analysts Forecast Growth

TOST has been the subject of several research analyst reports. BNP Paribas downgraded shares of Toast from an “outperform” rating to a “neutral” rating and set a $37.00 price target for the company. in a research report on Wednesday, November 20th. Canaccord Genuity Group increased their target price on Toast from $43.00 to $48.00 and gave the company a “buy” rating in a report on Thursday. BMO Capital Markets lifted their price target on Toast from $46.00 to $48.00 and gave the stock an “outperform” rating in a research note on Thursday. Deutsche Bank Aktiengesellschaft boosted their price target on Toast from $24.00 to $30.00 and gave the stock a “hold” rating in a research report on Monday, November 4th. Finally, Wells Fargo & Company raised their price objective on Toast from $25.00 to $30.00 and gave the company an “underweight” rating in a report on Thursday, January 16th. One analyst has rated the stock with a sell rating, twelve have given a hold rating and ten have issued a buy rating to the stock. According to data from MarketBeat, Toast has a consensus rating of “Hold” and an average price target of $40.23.

Insider Activity

In related news, President Stephen Fredette sold 1,068 shares of the stock in a transaction dated Tuesday, February 4th. The stock was sold at an average price of $39.63, for a total transaction of $42,324.84. Following the transaction, the president now owns 1,644,656 shares of the company’s stock, valued at approximately $65,177,717.28. This represents a 0.06 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CRO Jonathan Vassil sold 1,006 shares of the stock in a transaction dated Tuesday, February 4th. The stock was sold at an average price of $39.63, for a total value of $39,867.78. Following the transaction, the executive now directly owns 48,488 shares in the company, valued at approximately $1,921,579.44. The trade was a 2.03 % decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders have sold 339,564 shares of company stock valued at $13,577,845. Company insiders own 13.32% of the company’s stock.

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.