Toast, Inc. $TOST Shares Acquired by Handelsbanken Fonder AB

Handelsbanken Fonder AB increased its holdings in shares of Toast, Inc. (NYSE:TOST) by 12.0% during the second quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 151,500 shares of the company’s stock after acquiring an additional 16,200 shares during the period. Handelsbanken Fonder AB’s holdings in Toast were worth $4,215,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also recently modified their holdings of the business. NewEdge Advisors LLC grew its holdings in Toast by 1,555.5% in the first quarter. NewEdge Advisors LLC now owns 17,432 shares of the company’s stock valued at $578,000 after purchasing an additional 16,379 shares during the period. Cerity Partners LLC increased its position in shares of Toast by 24.0% in the second quarter. Cerity Partners LLC now owns 81,574 shares of the company’s stock valued at $3,613,000 after buying an additional 15,774 shares in the last quarter. State Street Corp raised its stake in shares of Toast by 2.7% during the 2nd 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 during the period. Frontier Capital Management Co. LLC acquired a new position in shares of Toast during the 2nd quarter worth approximately $4,479,000. Finally, Sei Investments Co. raised its stake 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 buying an additional 203,404 shares during the period. Hedge funds and other institutional investors own 82.91% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities research analysts recently issued reports on TOST shares. Robert W. Baird lifted their price target on shares of Toast from $30.00 to $33.00 and gave the company a “neutral” rating in a research note on Wednesday, July 8th. Rothschild & Co Redburn restated a “neutral” rating and set a $35.00 price objective on shares of Toast in a research report on Tuesday, May 12th. Canaccord Genuity Group set a $40.00 price objective on shares of Toast in a report on Wednesday, August 5th. Wall Street Zen downgraded shares of Toast from a “buy” rating to a “hold” rating in a report on Saturday, July 4th. Finally, BMO Capital Markets lifted their target price on shares of Toast from $35.00 to $40.00 and gave the company an “outperform” rating in a research report on Wednesday, August 5th. Seventeen investment analysts have rated the stock with a Buy rating and nine have given a Hold rating to the company’s stock. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average price target of $39.00.

Insider Activity

In related news, CRO Jonathan Vassil sold 13,797 shares of the business’s stock in a transaction on Tuesday, August 11th. The stock was sold at an average price of $36.01, for a total value of $496,829.97. Following the sale, the executive owned 69,966 shares in the company, valued at approximately $2,519,475.66. The trade was a 16.47% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CEO Aman Narang sold 119,843 shares of the stock in a transaction dated Monday, August 10th. The stock was sold at an average price of $35.38, for a total value of $4,240,045.34. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Over the last ninety days, insiders sold 517,042 shares of company stock valued at $16,884,084. 10.03% of the stock is currently owned by corporate insiders.

Toast Price Performance

NYSE:TOST opened at $34.76 on Friday. The company’s 50-day moving average is $29.36 and its two-hundred day moving average is $27.94. Toast, Inc. has a 1-year low of $22.26 and a 1-year high of $45.64. The firm has a market capitalization of $17.87 billion, a price-to-earnings ratio of 44.57 and a beta of 1.72.

Toast (NYSE:TOST) last issued its quarterly earnings data on Tuesday, August 4th. The company reported $0.26 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.32 by ($0.06). Toast had a return on equity of 23.90% and a net margin of 7.14%.The business had revenue of $1.91 billion for the quarter, compared to analyst estimates of $1.87 billion. During the same period in the previous year, the business posted $0.13 earnings per share. The firm’s revenue for the quarter was up 23.1% compared to the same quarter last year. As a group, equities analysts anticipate that Toast, Inc. will post 1 earnings per share for the current fiscal year.

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.