Fjarde AP Fonden Fourth Swedish National Pension Fund Raises Stock Holdings in Toast, Inc. $TOST

Fjarde AP Fonden Fourth Swedish National Pension Fund boosted its stake in Toast, Inc. (NYSE:TOST) by 7.0% during the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 103,400 shares of the company’s stock after buying an additional 6,800 shares during the period. Fjarde AP Fonden Fourth Swedish National Pension Fund’s holdings in Toast were worth $4,580,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Vanguard Group Inc. boosted its position in shares of Toast by 3.5% during the 1st quarter. Vanguard Group Inc. now owns 43,945,584 shares of the company’s stock worth $1,457,675,000 after purchasing an additional 1,471,352 shares during the period. Price T Rowe Associates Inc. MD boosted its position in shares of Toast by 17.5% during the 1st quarter. Price T Rowe Associates Inc. MD now owns 23,454,209 shares of the company’s stock worth $777,978,000 after purchasing an additional 3,490,686 shares during the period. T. Rowe Price Investment Management Inc. boosted its position in shares of Toast by 7.5% during the 1st quarter. T. Rowe Price Investment Management Inc. now owns 15,520,360 shares of the company’s stock worth $514,811,000 after purchasing an additional 1,082,958 shares during the period. Principal Financial Group Inc. boosted its position in shares of Toast by 14,258.8% during the 1st quarter. Principal Financial Group Inc. now owns 5,474,443 shares of the company’s stock worth $181,587,000 after purchasing an additional 5,436,317 shares during the period. Finally, HMI Capital Management L.P. boosted its position in shares of Toast by 57.7% during the 1st quarter. HMI Capital Management L.P. now owns 5,203,183 shares of the company’s stock worth $172,590,000 after purchasing an additional 1,904,040 shares during the period. 82.91% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

A number of equities analysts recently weighed in on the stock. Jefferies Financial Group increased their price objective on shares of Toast from $50.00 to $54.00 and gave the stock a “buy” rating in a research report on Friday, July 18th. Wall Street Zen upgraded shares of Toast from a “hold” rating to a “buy” rating in a research note on Friday, October 3rd. Needham & Company LLC boosted their price target on shares of Toast from $50.00 to $60.00 and gave the stock a “buy” rating in a research note on Wednesday, August 6th. Weiss Ratings reiterated a “hold (c)” rating on shares of Toast in a research note on Wednesday, October 8th. Finally, Truist Financial set a $47.00 price target on shares of Toast in a research note on Friday, October 24th. Two research analysts have rated the stock with a Strong Buy rating, thirteen have assigned a Buy rating and ten have issued a Hold rating to the stock. According to data from MarketBeat, Toast currently has a consensus rating of “Moderate Buy” and a consensus target price of $46.17.

Insiders Place Their Bets

In other news, President Stephen Fredette sold 7,550 shares of the firm’s stock in a transaction on Thursday, October 2nd. The shares were sold at an average price of $35.56, for a total value of $268,478.00. Following the sale, the president directly owned 898,475 shares in the company, valued at approximately $31,949,771. This trade represents a 0.83% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, CRO Jonathan Vassil sold 6,530 shares of the firm’s stock in a transaction on Thursday, October 2nd. The shares were sold at an average price of $35.56, for a total transaction of $232,206.80. Following the completion of the sale, the executive owned 69,932 shares in the company, valued at $2,486,781.92. The trade was a 8.54% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. In the last three months, insiders sold 62,196 shares of company stock worth $2,398,513. 12.14% of the stock is currently owned by insiders.

Toast Stock Performance

TOST stock opened at $34.40 on Friday. The company’s 50 day moving average price is $39.24 and its 200 day moving average price is $41.27. Toast, Inc. has a fifty-two week low of $28.12 and a fifty-two week high of $49.66. The firm has a market capitalization of $17.54 billion, a price-to-earnings ratio of 101.18 and a beta of 1.94.

Toast (NYSE:TOST) last released its earnings results on Tuesday, August 5th. The company reported $0.13 earnings per share for the quarter, missing analysts’ consensus estimates of $0.23 by ($0.10). Toast had a return on equity of 14.19% and a net margin of 4.07%.The firm had revenue of $1.55 billion for the quarter, compared to analysts’ expectations of $1.52 billion. During the same quarter in the previous year, the company posted $0.02 earnings per share. The firm’s quarterly revenue was up 24.8% on a year-over-year basis. Equities analysts forecast that Toast, Inc. will post 0.39 EPS for the current fiscal year.

Toast Profile

Toast, Inc operates a cloud-based digital technology platform for the restaurant industry in the United States, Ireland, and India. The company offers software products for restaurant operations and point of sale, such as Toast POS, Toast now, multi-location management, kitchen display system, Toast mobile order and pay, Toast catering and events, Toast invoicing, Toast tables, and restaurant retail; and hardware products, including Toast flex, Toast flex for guest, Toast go 2, Toast tap, kiosks, and Delphi by Toast.