Generali Asset Management SPA SGR Invests $1.88 Million in Toast, Inc. $TOST

Generali Asset Management SPA SGR acquired a new position in shares of Toast, Inc. (NYSE:TOST) in the 3rd quarter, Holdings Channel reports. The fund acquired 51,473 shares of the company’s stock, valued at approximately $1,879,000.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in the business. Vanguard Group Inc. lifted its holdings in shares of Toast by 1.1% during the second quarter. Vanguard Group Inc. now owns 44,411,722 shares of the company’s stock worth $1,966,995,000 after buying an additional 466,138 shares during the last quarter. State Street Corp increased its position in Toast by 2.7% during the second quarter. State Street Corp now owns 9,212,889 shares of the company’s stock worth $408,039,000 after acquiring an additional 245,276 shares during the period. Jennison Associates LLC raised its stake in Toast by 331.0% during the 2nd quarter. Jennison Associates LLC now owns 8,601,887 shares of the company’s stock valued at $380,978,000 after purchasing an additional 6,606,245 shares during the last quarter. Geode Capital Management LLC boosted its holdings in Toast by 2.8% in the 2nd quarter. Geode Capital Management LLC now owns 7,902,519 shares of the company’s stock valued at $348,906,000 after purchasing an additional 218,537 shares during the period. Finally, Marshall Wace LLP boosted its holdings in Toast by 108.3% in the 2nd quarter. Marshall Wace LLP now owns 7,887,409 shares of the company’s stock valued at $349,333,000 after purchasing an additional 4,100,104 shares during the period. Institutional investors and hedge funds own 82.91% of the company’s stock.

Toast Stock Performance

Shares of NYSE:TOST opened at $33.98 on Friday. The business has a fifty day moving average of $35.55 and a 200-day moving average of $39.87. Toast, Inc. has a twelve month low of $28.12 and a twelve month high of $49.66. The firm has a market cap of $17.50 billion, a PE ratio of 79.02 and a beta of 1.93.

Toast (NYSE:TOST) last issued its quarterly earnings results on Tuesday, November 4th. The company reported $0.16 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.24 by ($0.08). Toast had a return on equity of 15.77% and a net margin of 4.68%.The company had revenue of $1.63 billion for the quarter, compared to analyst estimates of $1.58 billion. During the same quarter last year, the company earned $0.07 EPS. The firm’s quarterly revenue was up 25.1% on a year-over-year basis. On average, analysts anticipate that Toast, Inc. will post 0.39 EPS for the current fiscal year.

Insider Activity at Toast

In other news, CEO Aman Narang sold 1,732 shares of Toast stock in a transaction on Tuesday, November 4th. The stock was sold at an average price of $35.54, for a total value of $61,555.28. Following the completion of the sale, the chief executive officer directly owned 319,939 shares of the company’s stock, valued at approximately $11,370,632.06. This trade represents a 0.54% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CFO Elena Gomez sold 2,021 shares of the business’s stock in a transaction on Tuesday, November 4th. The stock was sold at an average price of $35.54, for a total value of $71,826.34. Following the sale, the chief financial officer owned 151,463 shares of the company’s stock, valued at approximately $5,382,995.02. The trade was a 1.32% decrease in their position. The SEC filing for this sale provides additional information. Insiders sold 7,986 shares of company stock valued at $283,822 in the last three months. 12.14% of the stock is currently owned by corporate insiders.

Wall Street Analysts Forecast Growth

A number of research analysts have recently commented on TOST shares. BNP Paribas raised shares of Toast from a “hold” rating to an “outperform” rating and set a $40.00 price objective for the company in a research report on Monday, December 1st. DA Davidson set a $42.00 price objective on Toast in a research note on Wednesday, November 5th. Royal Bank Of Canada set a $45.00 target price on shares of Toast in a research note on Wednesday, November 5th. Wells Fargo & Company upgraded shares of Toast to a “strong-buy” rating in a research report on Wednesday, October 22nd. Finally, Jefferies Financial Group cut their price target on shares of Toast from $54.00 to $45.00 and set a “buy” rating for the company in a report on Wednesday, November 5th. Two research analysts have rated the stock with a Strong Buy rating, fourteen have given a Buy rating and eight have assigned a Hold rating to the company’s stock. According to MarketBeat, Toast has a consensus rating of “Moderate Buy” and an average price target of $45.18.

About Toast

Toast, Inc (NYSE: TOST) is a technology company that builds a cloud-based platform for restaurants and other foodservice businesses. Headquartered in Boston, Massachusetts, Toast offers integrated point-of-sale (POS) systems and a suite of software and hardware designed to streamline front-of-house and back-of-house operations. The company went public in 2021 and has positioned itself as a vertically integrated provider for the restaurant industry.

Toast’s product portfolio includes touchscreen POS terminals and handheld order-and-pay devices, kitchen display systems, and peripherals tailored for high-volume foodservice environments.