Toast, Inc. $TOST Shares Sold by Mediolanum International Funds Ltd

Mediolanum International Funds Ltd decreased its position in Toast, Inc. (NYSE:TOST) by 25.6% in the first quarter, according to its most recent 13F filing with the SEC. The firm owned 115,745 shares of the company’s stock after selling 39,876 shares during the period. Mediolanum International Funds Ltd’s holdings in Toast were worth $3,016,000 at the end of the most recent reporting period.

Several other large investors have also recently added to or reduced their stakes in the stock. NewEdge Advisors LLC increased its stake in shares of Toast by 1,555.5% during the 1st quarter. NewEdge Advisors LLC now owns 17,432 shares of the company’s stock worth $578,000 after purchasing an additional 16,379 shares during the last quarter. Cerity Partners LLC boosted its holdings in Toast by 24.0% in the 2nd quarter. Cerity Partners LLC now owns 81,574 shares of the company’s stock valued at $3,613,000 after purchasing an additional 15,774 shares during the period. State Street Corp grew 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 buying an additional 245,276 shares in the last quarter. Frontier Capital Management Co. LLC bought a new stake in shares of Toast during the second quarter valued at approximately $4,479,000. Finally, Sei Investments Co. lifted its holdings in shares of Toast by 24.6% during the 2nd quarter. Sei Investments Co. now owns 1,030,007 shares of the company’s stock worth $45,619,000 after acquiring an additional 203,404 shares during the period. Institutional investors and hedge funds own 82.91% of the company’s stock.

Insider Buying and Selling at Toast

In related news, General Counsel Brian R. Elworthy sold 108,000 shares of Toast stock in a transaction on 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 transaction, the general counsel owned 189,642 shares in the company, valued at $4,909,831.38. This trade represents a 36.29% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CEO Aman Narang sold 14,365 shares of the firm’s stock in a transaction on Thursday, July 2nd. The stock was sold at an average price of $28.85, for a total transaction of $414,430.25. Following the completion of the sale, the chief executive officer directly owned 70,451 shares in the company, valued at approximately $2,032,511.35. This trade represents a 16.94% decrease in their position. The disclosure for this sale is available in the SEC filing. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Over the last three months, insiders sold 159,265 shares of company stock valued at $4,278,832. 10.03% of the stock is currently owned by corporate insiders.

Toast Price Performance

Toast stock opened at $30.89 on Tuesday. The firm has a market cap of $15.94 billion, a P/E ratio of 47.52 and a beta of 1.74. Toast, Inc. has a one year low of $22.26 and a one year high of $49.66. The stock’s 50 day moving average is $26.05 and its 200 day moving average is $28.16.

Toast (NYSE:TOST) last released its quarterly earnings results on Thursday, May 7th. The company reported $0.20 earnings per share for the quarter, missing the consensus estimate of $0.28 by ($0.08). The firm had revenue of $1.63 billion for the quarter, compared to analysts’ expectations of $1.63 billion. Toast had a return on equity of 20.86% and a net margin of 6.39%.The firm’s revenue for the quarter was up 21.9% compared to the same quarter last year. During the same quarter last year, the firm posted $0.09 earnings per share. Equities analysts anticipate that Toast, Inc. will post 0.97 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

A number of research firms have commented on TOST. Zacks Research lowered shares of Toast from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, July 7th. Piper Sandler initiated coverage on shares of Toast in a research report on Wednesday, June 10th. They set an “overweight” rating and a $32.00 target price on the stock. Weiss Ratings reiterated a “hold (c)” rating on shares of Toast in a report on Wednesday, May 20th. The Goldman Sachs Group upgraded Toast from a “neutral” rating to a “buy” rating and set a $36.00 price objective for the company in a research report on Thursday, July 9th. Finally, Oppenheimer reissued an “outperform” rating and issued a $36.00 price objective on shares of Toast in a research report on Friday, May 8th. Two investment 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 data from MarketBeat, the company has an average rating of “Moderate Buy” and an average price target of $36.96.

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.