Toast, Inc. $TOST Shares Acquired by Nordea Investment Management AB

Nordea Investment Management AB increased its position in shares of Toast, Inc. (NYSE:TOST) by 49.5% during the 3rd quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 138,619 shares of the company’s stock after buying an additional 45,898 shares during the quarter. Nordea Investment Management AB’s holdings in Toast were worth $4,988,000 at the end of the most recent reporting period.

Other large investors have also recently added to or reduced their stakes in the company. NewEdge Advisors LLC raised its position 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. Parallel Advisors LLC increased its position in shares of Toast by 110.2% during the 2nd quarter. Parallel Advisors LLC now owns 5,658 shares of the company’s stock worth $251,000 after purchasing an additional 2,966 shares during the last quarter. Sumitomo Mitsui DS Asset Management Company Ltd increased its position in shares of Toast by 30.4% during the 2nd quarter. Sumitomo Mitsui DS Asset Management Company Ltd now owns 49,907 shares of the company’s stock worth $2,210,000 after purchasing an additional 11,624 shares during the last quarter. Secure Asset Management LLC purchased a new stake in Toast in the 2nd quarter valued at about $223,000. Finally, Mn Services Vermogensbeheer B.V. lifted its position in Toast by 30.1% in the second quarter. Mn Services Vermogensbeheer B.V. now owns 166,200 shares of the company’s stock valued at $7,361,000 after buying an additional 38,500 shares during the last quarter. 82.91% of the stock is currently owned by institutional investors and hedge funds.

Toast Trading Down 0.5%

NYSE:TOST opened at $33.60 on Friday. Toast, Inc. has a 12-month low of $28.12 and a 12-month high of $49.66. The firm has a market cap of $17.30 billion, a PE ratio of 78.14 and a beta of 1.93. The stock has a fifty day moving average price of $35.29 and a 200 day moving average price of $39.33.

Toast (NYSE:TOST) last posted its quarterly earnings results 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). The company had revenue of $1.63 billion during the quarter, compared to analyst estimates of $1.58 billion. Toast had a net margin of 4.68% and a return on equity of 15.77%. Toast’s revenue for the quarter was up 25.1% on a year-over-year basis. During the same period in the prior year, the business earned $0.07 EPS. Equities analysts forecast that Toast, Inc. will post 0.39 EPS for the current year.

Insider Buying and Selling

In other news, CFO Elena Gomez sold 6,672 shares of Toast stock in a transaction on Monday, January 5th. The shares were sold at an average price of $34.38, for a total transaction of $229,383.36. Following the completion of the sale, the chief financial officer directly owned 162,153 shares of the company’s stock, valued at approximately $5,574,820.14. The trade was a 3.95% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CRO Jonathan Vassil sold 66,390 shares of the stock in a transaction on Friday, January 2nd. The shares were sold at an average price of $35.86, for a total value of $2,380,745.40. Following the completion of the transaction, the executive directly owned 84,589 shares in the company, valued at $3,033,361.54. This trade represents a 43.97% decrease in their position. The SEC filing for this sale provides additional information. Insiders have sold 102,595 shares of company stock valued at $3,634,737 over the last ninety days. 12.14% of the stock is currently owned by corporate insiders.

Analysts Set New Price Targets

A number of brokerages have weighed in on TOST. JPMorgan Chase & Co. upgraded shares of Toast from a “neutral” rating to an “overweight” rating and set a $43.00 price target for the company in a research report on Thursday, December 4th. Wolfe Research downgraded shares of Toast from an “outperform” rating to a “peer perform” rating in a report on Thursday, January 8th. Truist Financial decreased their price target on Toast from $47.00 to $43.00 and set a “buy” rating on the stock in a research note on Thursday, November 13th. Robert W. Baird dropped their price objective on Toast from $48.00 to $36.00 and set a “neutral” rating for the company in a research note on Monday, October 6th. Finally, Weiss Ratings reiterated a “hold (c-)” rating on shares of Toast in a report on Monday, December 29th. Two research analysts have rated the stock with a Strong Buy rating, thirteen have given a Buy rating and nine have issued a Hold rating to the company’s stock. According to data from MarketBeat, Toast currently has an average rating of “Moderate Buy” and an average target price of $45.13.

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.