Fjarde AP Fonden Fourth Swedish National Pension Fund Boosts Stake in Toast, Inc. $TOST

Fjarde AP Fonden Fourth Swedish National Pension Fund boosted its holdings in Toast, Inc. (NYSE:TOST) by 93.4% in the 1st quarter, HoldingsChannel reports. The fund owned 201,900 shares of the company’s stock after acquiring an additional 97,500 shares during the quarter. Fjarde AP Fonden Fourth Swedish National Pension Fund’s holdings in Toast were worth $5,352,000 at the end of the most recent reporting period.

A number of other hedge funds also recently added to or reduced their stakes in the stock. Alliancebernstein L.P. grew its holdings in shares of Toast by 2,432.8% in the 3rd quarter. Alliancebernstein L.P. now owns 8,215,758 shares of the company’s stock worth $299,957,000 after acquiring an additional 7,891,383 shares during the period. Norges Bank purchased a new stake in shares of Toast in the fourth quarter valued at about $202,808,000. ValueAct Holdings L.P. grew its position in shares of Toast by 135.9% in the fourth quarter. ValueAct Holdings L.P. now owns 8,015,277 shares of the company’s stock valued at $284,622,000 after purchasing an additional 4,618,077 shares during the last quarter. Capital International Investors grew its position in shares of Toast by 7.4% in the third quarter. Capital International Investors now owns 48,428,060 shares of the company’s stock valued at $1,768,256,000 after purchasing an additional 3,351,545 shares during the last quarter. Finally, XN LP increased its stake in shares of Toast by 50.8% during the 4th quarter. XN LP now owns 8,988,386 shares of the company’s stock worth $319,178,000 after purchasing an additional 3,029,856 shares in the last quarter. 82.91% of the stock is owned by hedge funds and other institutional investors.

Toast Trading Down 0.1%

Shares of Toast stock opened at $28.79 on Monday. The stock has a market capitalization of $14.85 billion, a P/E ratio of 44.29 and a beta of 1.74. Toast, Inc. has a twelve month low of $22.26 and a twelve month high of $49.66. The business’s fifty day moving average price is $25.64 and its 200 day moving average price is $28.66.

Insider Buying and Selling

In related news, General Counsel Brian R. Elworthy sold 108,000 shares of the firm’s stock in a transaction that occurred 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 approximately $4,909,831.38. This trade represents a 36.29% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders own 10.03% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities research analysts recently issued reports on the company. Mizuho reduced their target price on Toast from $45.00 to $38.00 and set an “outperform” rating on the stock in a research note on Tuesday, May 12th. Truist Financial reduced their target price on shares of Toast from $36.00 to $30.00 and set a “buy” rating on the stock in a report on Tuesday, May 12th. Zacks Research raised shares of Toast from a “hold” rating to a “strong-buy” rating in a research note on Tuesday, May 26th. UBS Group cut their price target on Toast from $40.00 to $34.00 and set a “buy” rating for the company in a report on Friday, May 8th. Finally, Wall Street Zen lowered Toast from a “buy” rating to a “hold” rating in a research note on Saturday. Two equities research analysts have rated the stock with a Strong Buy rating, seventeen have assigned a Buy rating and eight have given a Hold rating to the company’s stock. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average price target of $37.62.

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.