Nordea Investment Management AB Boosts Position in Toast, Inc. $TOST

Nordea Investment Management AB boosted its holdings in Toast, Inc. (NYSE:TOST) by 49.5% in the third quarter, HoldingsChannel.com reports. 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 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in the stock. RiverPark Advisors LLC purchased a new position in shares of Toast in the 2nd quarter valued at $30,000. Alpine Bank Wealth Management acquired a new position in Toast in the third quarter valued at $30,000. Ameritas Advisory Services LLC purchased a new position in shares of Toast during the second quarter worth about $31,000. REAP Financial Group LLC grew its holdings in shares of Toast by 173.3% during the second quarter. REAP Financial Group LLC now owns 798 shares of the company’s stock worth $35,000 after purchasing an additional 506 shares during the last quarter. Finally, Loomis Sayles & Co. L P acquired a new stake in shares of Toast during the second quarter worth about $42,000. Institutional investors and hedge funds own 82.91% of the company’s stock.

Toast Price Performance

Shares of NYSE TOST opened at $33.60 on Friday. The stock has a fifty day moving average price of $35.29 and a 200 day moving average price of $39.33. Toast, Inc. has a 1-year low of $28.12 and a 1-year high of $49.66. The company has a market cap of $17.30 billion, a PE ratio of 78.14 and a beta of 1.93.

Toast (NYSE:TOST) last announced its quarterly earnings data on Tuesday, November 4th. The company reported $0.16 EPS for the quarter, missing analysts’ consensus estimates of $0.24 by ($0.08). Toast had a return on equity of 15.77% and a net margin of 4.68%.The firm had revenue of $1.63 billion for the quarter, compared to analysts’ expectations of $1.58 billion. During the same quarter in the previous year, the company posted $0.07 EPS. The firm’s quarterly revenue was up 25.1% compared to the same quarter last year. Analysts anticipate that Toast, Inc. will post 0.39 earnings per share for the current fiscal year.

Insider Transactions at Toast

In other Toast news, General Counsel Brian R. Elworthy sold 3,303 shares of the business’s stock in a transaction that occurred on Monday, January 5th. The stock was sold at an average price of $34.38, for a total transaction of $113,557.14. Following the transaction, the general counsel owned 235,757 shares in the company, valued at approximately $8,105,325.66. The trade was a 1.38% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, CEO Aman Narang sold 8,591 shares of the stock in a transaction that occurred on Monday, January 5th. The stock was sold at an average price of $34.38, for a total value of $295,358.58. Following the transaction, the chief executive officer directly owned 338,850 shares of the company’s stock, valued at approximately $11,649,663. This trade represents a 2.47% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders have sold 102,595 shares of company stock valued at $3,634,737 over the last 90 days. Insiders own 12.14% of the company’s stock.

Wall Street Analyst Weigh In

A number of research analysts recently issued reports on the company. The Goldman Sachs Group dropped their price target on Toast from $51.00 to $41.00 and set a “neutral” rating on the stock in a research note on Monday, October 13th. JPMorgan Chase & Co. raised Toast from a “neutral” rating to an “overweight” rating and set a $43.00 price objective for the company in a report on Thursday, December 4th. Robert W. Baird cut their target price on shares of Toast from $48.00 to $36.00 and set a “neutral” rating on the stock in a report on Monday, October 6th. Stephens set a $42.00 price target on shares of Toast in a research note on Friday. Finally, Keefe, Bruyette & Woods lowered their price objective on shares of Toast from $50.00 to $42.00 and set a “market perform” rating on the stock in a research report on Wednesday, October 1st. Two analysts have rated the stock with a Strong Buy rating, thirteen have assigned a Buy rating and nine have issued a Hold rating to the company’s stock. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus price target 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.