Hsbc Holdings PLC Buys 103,139 Shares of Toast, Inc. $TOST

Hsbc Holdings PLC boosted its position in shares of Toast, Inc. (NYSE:TOST) by 56.9% during the 1st quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 284,510 shares of the company’s stock after buying an additional 103,139 shares during the quarter. Hsbc Holdings PLC’s holdings in Toast were worth $7,539,000 as of its most recent SEC filing.

A number of other hedge funds have also recently bought and sold shares of the company. Norges Bank bought a new stake in shares of Toast during the fourth quarter worth $202,808,000. ValueAct Holdings L.P. boosted its holdings in Toast by 135.9% in the fourth quarter. ValueAct Holdings L.P. now owns 8,015,277 shares of the company’s stock valued at $284,622,000 after acquiring an additional 4,618,077 shares during the last quarter. XN LP increased its position in Toast by 50.8% in the fourth quarter. XN LP now owns 8,988,386 shares of the company’s stock worth $319,178,000 after purchasing an additional 3,029,856 shares during the period. Worldquant Millennium Advisors LLC increased its position in Toast by 343.6% in the second quarter. Worldquant Millennium Advisors LLC now owns 1,792,209 shares of the company’s stock worth $79,377,000 after purchasing an additional 1,388,210 shares during the period. Finally, Bank of Nova Scotia increased its position in Toast by 18,198.4% in the fourth quarter. Bank of Nova Scotia now owns 1,247,037 shares of the company’s stock worth $44,282,000 after purchasing an additional 1,240,222 shares during the period. 82.91% of the stock is currently owned by institutional investors.

Toast Price Performance

Toast stock opened at $28.38 on Friday. The company’s 50 day simple moving average is $26.43 and its 200 day simple moving average is $28.04. Toast, Inc. has a fifty-two week low of $22.26 and a fifty-two week high of $49.66. The firm has a market capitalization of $14.64 billion, a price-to-earnings ratio of 43.66 and a beta of 1.74.

Toast (NYSE:TOST) last issued its earnings results on Thursday, May 7th. The company reported $0.20 EPS for the quarter, missing the consensus estimate of $0.28 by ($0.08). The firm had revenue of $1.63 billion during the quarter, compared to the consensus estimate of $1.63 billion. Toast had a net margin of 6.39% and a return on equity of 20.86%. The firm’s revenue for the quarter was up 21.9% on a year-over-year basis. During the same period in the previous year, the company posted $0.09 EPS. As a group, analysts predict that Toast, Inc. will post 0.97 EPS for the current fiscal year.

Insider Buying and Selling

In other Toast news, CRO Jonathan Vassil sold 6,647 shares of Toast stock in a transaction dated Thursday, July 2nd. The stock was sold at an average price of $28.85, for a total transaction of $191,765.95. Following the transaction, the executive directly owned 69,966 shares in the company, valued at approximately $2,018,519.10. The trade was a 8.68% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, General Counsel Brian R. Elworthy sold 108,000 shares of the business’s stock in a transaction dated Friday, May 29th. The shares were sold at an average price of $25.89, for a total value of $2,796,120.00. Following the completion of the transaction, the general counsel directly owned 189,642 shares of the company’s stock, valued at approximately $4,909,831.38. The trade was a 36.29% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders have sold 159,265 shares of company stock worth $4,278,832 over the last ninety days. Insiders own 10.03% of the company’s stock.

Analysts Set New Price Targets

A number of research analysts have issued reports on the stock. BMO Capital Markets restated an “outperform” rating on shares of Toast in a research report on Monday, June 1st. Morgan Stanley set a $45.00 price target on shares of Toast in a research report on Friday, May 8th. Piper Sandler assumed coverage on shares of Toast in a research note on Wednesday, June 10th. They set an “overweight” rating and a $32.00 price target for the company. Truist Financial cut their price objective on shares of Toast from $36.00 to $30.00 and set a “buy” rating on the stock in a report on Tuesday, May 12th. Finally, Wall Street Zen cut shares of Toast from a “buy” rating to a “hold” rating in a research note on Saturday, July 4th. Two analysts have rated the stock with a Strong Buy rating, sixteen have assigned a Buy rating and eight have assigned a Hold rating to the company. According to MarketBeat, Toast presently has an average rating of “Moderate Buy” and a consensus target price of $36.96.

Toast Company Profile

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.