Toast, Inc. $TOST Shares Purchased by Nomura Holdings Inc.

Key Points

• Nomura Holdings Inc. increased its stake in Toast, Inc. by 270.7% in Q1, owning 757,729 shares valued at approximately $25.1 million.
• Other institutional investors have also significantly increased their holdings in Toast, with Principal Financial Group raising their stake by 14,258.8%.
• Despite a year-over-year revenue increase of 24.8%, Toast reported lower-than-expected earnings per share of $0.13, missing estimates by $0.10.

Nomura Holdings Inc. boosted its stake in shares of Toast, Inc. (NYSE:TOST - Free Report) by 270.7% in the 1st quarter, according to its most recent Form 13F filing with the SEC. The fund owned 757,729 shares of the company's stock after purchasing an additional 553,330 shares during the period. Nomura Holdings Inc. owned 0.15% of Toast worth $25,134,000 as of its most recent filing with the SEC.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Wayfinding Financial LLC bought a new position in shares of Toast during the first quarter worth approximately $34,000. Piscataqua Savings Bank increased its stake in shares of Toast by 57.1% in the 1st quarter. Piscataqua Savings Bank now owns 1,100 shares of the company's stock valued at $36,000 after purchasing an additional 400 shares during the last quarter. West Branch Capital LLC boosted its holdings in shares of Toast by 862.1% during the 1st quarter. West Branch Capital LLC now owns 1,116 shares of the company's stock valued at $37,000 after acquiring an additional 1,000 shares in the last quarter. SBI Securities Co. Ltd. lifted its holdings in Toast by 29.2% during the 1st quarter. SBI Securities Co. Ltd. now owns 1,257 shares of the company's stock worth $42,000 after buying an additional 284 shares during the period. Finally, Signaturefd LLC lifted its stake in shares of Toast by 227.1% in the 1st quarter. Signaturefd LLC now owns 1,472 shares of the company's stock valued at $49,000 after purchasing an additional 1,022 shares during the period. Institutional investors own 82.91% of the company's stock.

Toast Trading Down 3.1%

Shares of NYSE TOST traded down $1.32 during midday trading on Thursday, reaching $41.14. The company had a trading volume of 8,214,104 shares, compared to its average volume of 7,351,927. The business's 50-day simple moving average is $44.97 and its 200 day simple moving average is $40.39. Toast, Inc. has a 1 year low of $22.91 and a 1 year high of $49.66. The stock has a market cap of $20.98 billion, a P/E ratio of 120.99 and a beta of 2.00.

Toast (NYSE:TOST - Get Free Report) last announced its earnings results on Tuesday, August 5th. The company reported $0.13 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.23 by ($0.10). Toast had a net margin of 4.07% and a return on equity of 14.19%. The company had revenue of $1.55 billion during the quarter, compared to analyst estimates of $1.52 billion. During the same quarter last year, the business earned $0.02 EPS. The firm's revenue for the quarter was up 24.8% compared to the same quarter last year. Analysts predict that Toast, Inc. will post 0.39 earnings per share for the current year.

Insider Activity at Toast

In other news, Director Richard Kent Bennett sold 9,712 shares of Toast stock in a transaction dated Tuesday, June 10th. The shares were sold at an average price of $43.14, for a total transaction of $418,975.68. Following the completion of the sale, the director directly owned 534,167 shares in the company, valued at $23,043,964.38. The trade was a 1.79% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, CFO Elena Gomez sold 34,170 shares of Toast stock in a transaction dated Wednesday, July 2nd. The stock was sold at an average price of $42.56, for a total transaction of $1,454,275.20. Following the sale, the chief financial officer owned 139,357 shares of the company's stock, valued at approximately $5,931,033.92. This trade represents a 19.69% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 105,554 shares of company stock worth $4,553,686 in the last three months. Company insiders own 12.14% of the company's stock.

Wall Street Analyst Weigh In

TOST has been the subject of a number of recent research reports. Needham & Company LLC boosted their price objective on Toast from $50.00 to $60.00 and gave the stock a "buy" rating in a report on Wednesday, August 6th. The Goldman Sachs Group increased their target price on Toast from $45.00 to $51.00 and gave the stock a "neutral" rating in a research report on Wednesday, August 6th. Deutsche Bank Aktiengesellschaft started coverage on Toast in a research note on Thursday, July 17th. They set a "buy" rating and a $54.00 price objective on the stock. Keefe, Bruyette & Woods increased their target price on Toast from $47.00 to $50.00 and gave the stock a "market perform" rating in a research report on Wednesday, August 6th. Finally, Jefferies Financial Group upped their price objective on Toast from $50.00 to $54.00 and gave the company a "buy" rating in a research report on Friday, July 18th. Fifteen analysts have rated the stock with a Buy rating and eleven have given a Hold rating to the company. Based on data from MarketBeat, Toast has an average rating of "Moderate Buy" and a consensus price target of $45.54.

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.