Bank of Nova Scotia Has $42.19 Million Stake in Toast, Inc. $TOST

Bank of Nova Scotia grew its holdings in Toast, Inc. (NYSE:TOST) by 281.8% during the 2nd quarter, according to the company in its most recent disclosure with the SEC. The fund owned 952,680 shares of the company’s stock after purchasing an additional 703,153 shares during the quarter. Bank of Nova Scotia’s holdings in Toast were worth $42,194,000 as of its most recent filing with the SEC.

A number of other institutional investors have also made changes to their positions in the business. Roundview Capital LLC boosted its stake in Toast by 0.6% during the 2nd quarter. Roundview Capital LLC now owns 43,619 shares of the company’s stock valued at $1,932,000 after purchasing an additional 245 shares during the period. GAMMA Investing LLC lifted its holdings in shares of Toast by 7.2% during the second quarter. GAMMA Investing LLC now owns 4,139 shares of the company’s stock worth $183,000 after buying an additional 278 shares during the last quarter. True Vision MN LLC boosted its position in shares of Toast by 3.6% in the second quarter. True Vision MN LLC now owns 8,186 shares of the company’s stock valued at $363,000 after acquiring an additional 285 shares during the period. Advisors Asset Management Inc. grew its stake in shares of Toast by 7.3% in the first quarter. Advisors Asset Management Inc. now owns 4,439 shares of the company’s stock worth $147,000 after acquiring an additional 301 shares during the last quarter. Finally, Parkside Financial Bank & Trust increased its position in Toast by 4.6% during the second quarter. Parkside Financial Bank & Trust now owns 6,921 shares of the company’s stock worth $307,000 after acquiring an additional 306 shares during the period. 82.91% of the stock is currently owned by institutional investors.

Toast Price Performance

Shares of TOST stock opened at $34.57 on Tuesday. The stock’s fifty day simple moving average is $36.05 and its 200 day simple moving average is $40.77. Toast, Inc. has a one year low of $28.12 and a one year high of $49.66. The firm has a market cap of $17.80 billion, a price-to-earnings ratio of 80.38 and a beta of 1.94.

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

Analyst Upgrades and Downgrades

TOST has been the subject of a number of research reports. Truist Financial reduced their price target on shares of Toast from $47.00 to $43.00 and set a “buy” rating for the company in a report on Thursday, November 13th. Jefferies Financial Group reduced their target price on shares of Toast from $54.00 to $45.00 and set a “buy” rating for the company in a research note on Wednesday, November 5th. Wells Fargo & Company raised Toast to a “strong-buy” rating in a research report on Wednesday, October 22nd. UBS Group set a $43.00 price target on Toast in a research note on Thursday. Finally, Royal Bank Of Canada set a $45.00 price objective on Toast in a research report on Wednesday, November 5th. Two investment analysts have rated the stock with a Strong Buy rating, fourteen have issued a Buy rating and eight have given a Hold rating to the company. According to MarketBeat.com, Toast currently has an average rating of “Moderate Buy” and an average target price of $45.18.

Insider Activity

In other news, CEO Aman Narang sold 1,732 shares of the firm’s stock in a transaction that occurred on Tuesday, November 4th. The shares were sold at an average price of $35.54, for a total transaction of $61,555.28. Following the completion of the sale, the chief executive officer 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 ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, General Counsel Brian R. Elworthy sold 1,059 shares of Toast stock in a transaction that occurred on Tuesday, November 4th. The shares were sold at an average price of $35.54, for a total transaction of $37,636.86. Following the completion of the transaction, the general counsel owned 229,017 shares of the company’s stock, valued at $8,139,264.18. This trade represents a 0.46% decrease in their position. The disclosure for this sale is available in the SEC filing. In the last three months, insiders sold 49,759 shares of company stock valued at $1,769,270. Corporate insiders own 12.14% of the company’s stock.

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.