Swiss National Bank Increases Stake in Toast, Inc. $TOST

Swiss National Bank lifted its position in Toast, Inc. (NYSE:TOST) by 8.2% in the 1st quarter, HoldingsChannel.com reports. The fund owned 1,360,400 shares of the company’s stock after buying an additional 102,600 shares during the period. Swiss National Bank’s holdings in Toast were worth $36,064,000 as of its most recent SEC filing.

Other hedge funds also recently added to or reduced their stakes in the company. Bayban bought a new position in Toast during the 4th quarter worth about $25,000. SHP Wealth Management purchased a new stake in shares of Toast in the 4th quarter worth approximately $29,000. Strive Financial Group LLC purchased a new stake in shares of Toast in the 4th quarter worth approximately $29,000. Silicon Valley Capital Partners purchased a new stake in shares of Toast in the 4th quarter worth approximately $36,000. Finally, Quadrant Capital Group LLC boosted its stake in shares of Toast by 2,083.3% during the fourth quarter. Quadrant Capital Group LLC now owns 1,048 shares of the company’s stock valued at $37,000 after purchasing an additional 1,000 shares in the last quarter. 82.91% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling at Toast

In other news, CFO Elena Gomez sold 11,605 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 value of $334,804.25. Following the completion of the sale, the chief financial officer owned 185,150 shares of the company’s stock, valued at $5,341,577.50. This trade represents a 5.90% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, President Stephen Fredette sold 9,146 shares of the business’s stock in a transaction on Thursday, July 2nd. The stock was sold at an average price of $28.85, for a total value of $263,862.10. Following the transaction, the president owned 931,449 shares in the company, valued at approximately $26,872,303.65. This trade represents a 0.97% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. The sale was made to cover tax withholding obligations related to the vesting of equity awards. In the last 90 days, insiders sold 159,265 shares of company stock valued at $4,278,832. Corporate insiders own 10.03% of the company’s stock.

Analyst Ratings Changes

Several equities analysts recently issued reports on the stock. Weiss Ratings reissued a “hold (c)” rating on shares of Toast in a research note on Wednesday, May 20th. Truist Financial lowered their target price on Toast from $36.00 to $30.00 and set a “buy” rating for the company in a report on Tuesday, May 12th. Oppenheimer reaffirmed an “outperform” rating and set a $36.00 target price on shares of Toast in a research report on Friday, May 8th. BMO Capital Markets reiterated an “outperform” rating on shares of Toast in a report on Monday, June 1st. Finally, Citigroup reduced their price target on Toast from $42.00 to $36.00 and set a “buy” rating for the company in a research report on Friday, May 8th. Two analysts have rated the stock with a Strong Buy rating, sixteen have issued a Buy rating and eight have issued a Hold rating to the company. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $36.96.

Toast Stock Down 3.8%

Shares of Toast stock opened at $29.22 on Thursday. The company has a market cap of $15.08 billion, a P/E ratio of 44.95 and a beta of 1.74. The firm’s 50 day moving average price is $26.33 and its 200-day moving average price is $28.08. Toast, Inc. has a 52-week low of $22.26 and a 52-week high of $49.66.

Toast (NYSE:TOST) last posted its earnings results on Thursday, May 7th. The company reported $0.20 EPS for the quarter, missing analysts’ consensus estimates 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 net margin of 6.39% and a return on equity of 20.86%. The company’s revenue was up 21.9% on a year-over-year basis. During the same period in the previous year, the company earned $0.09 EPS. As a group, equities research analysts forecast that Toast, Inc. will post 0.97 EPS for the current fiscal year.

Toast 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.