Swedbank AB Sells 36,678 Shares of Toast, Inc. $TOST

Swedbank AB lowered its position in shares of Toast, Inc. (NYSE:TOST) by 81.5% in the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 8,319 shares of the company’s stock after selling 36,678 shares during the quarter. Swedbank AB’s holdings in Toast were worth $221,000 at the end of the most recent quarter.

A number of other hedge funds have also recently modified their holdings of the business. Westbourne Investment Advisors Inc. lifted its position in Toast by 3.3% during the 1st quarter. Westbourne Investment Advisors Inc. now owns 241,195 shares of the company’s stock valued at $6,394,000 after acquiring an additional 7,742 shares during the period. Baxter Bros Inc. increased its stake in shares of Toast by 74.8% during the first quarter. Baxter Bros Inc. now owns 37,390 shares of the company’s stock valued at $991,000 after purchasing an additional 16,000 shares in the last quarter. Stephens Investment Management Group LLC increased its stake in shares of Toast by 14.8% during the first quarter. Stephens Investment Management Group LLC now owns 2,008,871 shares of the company’s stock valued at $53,255,000 after purchasing an additional 259,457 shares in the last quarter. HB Wealth Management LLC lifted its holdings in shares of Toast by 13.4% during the first quarter. HB Wealth Management LLC now owns 12,433 shares of the company’s stock valued at $330,000 after purchasing an additional 1,467 shares during the last quarter. Finally, Moran Wealth Management LLC purchased a new position in shares of Toast during the first quarter valued at approximately $1,189,000. Institutional investors own 82.91% of the company’s stock.

Insiders Place Their Bets

In other Toast news, CEO Aman Narang sold 14,365 shares of Toast stock in a transaction on Thursday, July 2nd. The stock was sold at an average price of $28.85, for a total value of $414,430.25. Following the completion of the sale, the chief executive officer owned 70,451 shares of the company’s stock, valued at approximately $2,032,511.35. This trade represents a 16.94% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, General Counsel Brian R. Elworthy sold 108,000 shares of the business’s stock in a transaction on Friday, May 29th. The stock was sold at an average price of $25.89, for a total value of $2,796,120.00. Following the completion of the transaction, the general counsel owned 189,642 shares of the company’s stock, valued at $4,909,831.38. This represents a 36.29% decrease in their position. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders sold a total of 159,265 shares of company stock worth $4,278,832 in the last three months. Corporate insiders own 10.03% of the company’s stock.

Key Toast News

Here are the key news stories impacting Toast this week:

• Positive Sentiment: Barclays upgraded Toast (TOST) to strong-buy, adding to the bullish view that recent growth, improving margins, and AI-driven product momentum could support the company’s longer-term outlook.
• Positive Sentiment: Goldman Sachs also upgraded Toast (TOST) to Buy, citing new product initiatives and market expansion efforts as reasons for continued growth potential. Toast upgraded to Buy at Goldman Sachs on new product and market expansion efforts
• Neutral Sentiment: Wall Street consensus remains constructive, with analysts still rating Toast (TOST) a Moderate Buy overall, suggesting expectations for further business growth remain intact despite the stock’s recent run.
• Neutral Sentiment: Several insider sales, including a pre-planned transaction by CRO Jonathan Vassil, may slightly pressure sentiment, but the activity does not appear to indicate a fundamental change in the business. Toast (NYSE:TOST) CRO Jonathan Vassil Sells 3,150 Shares of Stock
• Neutral Sentiment: Industry commentary on debit-network competition and payments infrastructure points to a changing merchant-payments landscape, which could affect Toast (TOST) over time but is not an immediate catalyst. Fiserv’s Debit Network Talks Raise a Bigger Question for Visa and Mastercard (TOST)
• Negative Sentiment: Zacks Research downgraded Toast (TOST) from Strong-Buy to Hold, reflecting some near-term caution after the stock’s recent gains and concerns about costs and restaurant demand. Zacks.com
• Negative Sentiment: One article argued that Toast (TOST) still looks expensive even with fair-value support, reinforcing valuation concerns that could limit upside. Toast (TOST) Stock Looks Rich Even With Fair Value Support

Toast Stock Performance

Shares of NYSE:TOST traded up $0.47 during trading on Friday, reaching $29.32. 7,146,169 shares of the stock traded hands, compared to its average volume of 13,711,114. The stock has a 50-day moving average of $25.69 and a two-hundred day moving average of $28.48. Toast, Inc. has a 52-week low of $22.26 and a 52-week high of $49.66. The stock has a market cap of $15.13 billion, a P/E ratio of 45.12 and a beta of 1.74.

Wall Street Analyst Weigh In

Several research firms recently weighed in on TOST. Wall Street Zen downgraded Toast from a “buy” rating to a “hold” rating in a research note on Saturday, July 4th. BMO Capital Markets reiterated an “outperform” rating on shares of Toast in a research note on Monday, June 1st. Mizuho dropped their target price on Toast from $45.00 to $38.00 and set an “outperform” rating on the stock in a report on Tuesday, May 12th. UBS Group cut their target price on Toast from $40.00 to $34.00 and set a “buy” rating on the stock in a research note on Friday, May 8th. Finally, Rothschild & Co Redburn restated a “neutral” rating and set a $35.00 price target on shares of Toast in a report on Tuesday, May 12th. Two research analysts have rated the stock with a Strong Buy rating, seventeen have given a Buy rating and eight have given a Hold rating to the stock. According to data from MarketBeat.com, Toast currently has an average rating of “Moderate Buy” and an average price target of $37.59.

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.