Nordea Investment Management AB Invests $366,000 in Toast, Inc. (NYSE:TOST)

Nordea Investment Management AB purchased a new stake in shares of Toast, Inc. (NYSE:TOST – Get Rating) in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor purchased 20,594 shares of the company’s stock, valued at approximately $366,000.

A number of other hedge funds have also recently bought and sold shares of TOST. SG Americas Securities LLC grew its holdings in Toast by 214.5% during the third quarter. SG Americas Securities LLC now owns 28,674 shares of the company’s stock worth $479,000 after purchasing an additional 19,557 shares during the period. Lord Abbett & CO. LLC bought a new position in shares of Toast during the 3rd quarter worth approximately $3,453,000. Amalgamated Bank raised its stake in Toast by 10.6% in the 3rd quarter. Amalgamated Bank now owns 55,758 shares of the company’s stock valued at $932,000 after acquiring an additional 5,326 shares during the period. Rockefeller Capital Management L.P. raised its stake in Toast by 38.5% in the 3rd quarter. Rockefeller Capital Management L.P. now owns 7,754 shares of the company’s stock valued at $129,000 after acquiring an additional 2,157 shares during the period. Finally, DekaBank Deutsche Girozentrale acquired a new stake in Toast during the 4th quarter valued at $191,000. 50.82% of the stock is currently owned by institutional investors.

Insiders Place Their Bets

In other news, CEO Christopher P. Comparato sold 33,333 shares of the firm’s stock in a transaction that occurred on Monday, March 20th. The shares were sold at an average price of $16.70, for a total value of $556,661.10. Following the sale, the chief executive officer now directly owns 109,895 shares in the company, valued at approximately $1,835,246.50. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. In other Toast news, insider James Michael Matlock sold 6,091 shares of the company’s stock in a transaction dated Tuesday, May 2nd. The stock was sold at an average price of $17.16, for a total value of $104,521.56. Following the completion of the transaction, the insider now owns 46,006 shares of the company’s stock, valued at approximately $789,462.96. The sale was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, CEO Christopher P. Comparato sold 33,333 shares of the stock in a transaction dated Monday, March 20th. The shares were sold at an average price of $16.70, for a total value of $556,661.10. Following the completion of the transaction, the chief executive officer now owns 109,895 shares of the company’s stock, valued at $1,835,246.50. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 391,624 shares of company stock valued at $7,509,569. 20.16% of the stock is currently owned by corporate insiders.

Toast Trading Down 0.3 %

NYSE TOST opened at $19.43 on Tuesday. The firm’s 50 day simple moving average is $17.73 and its 200 day simple moving average is $19.02. The firm has a market capitalization of $10.24 billion, a price-to-earnings ratio of -29.89 and a beta of 1.75. Toast, Inc. has a 1 year low of $12.15 and a 1 year high of $26.03.

Toast (NYSE:TOST – Get Rating) last issued its earnings results on Tuesday, May 9th. The company reported ($0.16) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.18) by $0.02. Toast had a negative return on equity of 24.30% and a negative net margin of 10.03%. The firm had revenue of $819.00 million for the quarter, compared to the consensus estimate of $763.11 million. During the same quarter last year, the business posted ($0.20) EPS. The company’s revenue was up 53.1% compared to the same quarter last year. On average, equities research analysts forecast that Toast, Inc. will post -0.6 earnings per share for the current year.

Analyst Ratings Changes

Several equities analysts have recently weighed in on TOST shares. DA Davidson reissued a “buy” rating on shares of Toast in a research report on Monday, April 3rd. Sumitomo Mitsui Financial Group downgraded shares of Toast from an “outperform” rating to a “neutral” rating and cut their price objective for the stock from $26.00 to $23.00 in a research report on Friday, February 17th. BNP Paribas started coverage on Toast in a research report on Thursday, March 23rd. They issued a “neutral” rating and a $16.00 target price on the stock. Deutsche Bank Aktiengesellschaft initiated coverage on Toast in a report on Thursday, April 6th. They set a “hold” rating and a $20.00 price target for the company. Finally, Piper Sandler upped their price objective on Toast from $22.00 to $23.00 and gave the company an “overweight” rating in a report on Friday, February 17th. Nine investment analysts have rated the stock with a hold rating and eight have issued a buy rating to the company. According to data from MarketBeat, Toast has an average rating of “Hold” and a consensus price target of $22.63.

Toast Profile

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Toast, Inc operates a cloud-based and digital technology platform for the restaurant industry in the United States and Ireland. The company offers Toast Point of Sale (POS), a hardware product; Toast Order & Pay, which allows guests to order and pay from their mobile devices; Toast Flex that is used for on-counter order and pay, as well as used as a server station, guest kiosk, kitchen display system, or order fulfillment station; Toast Go, a handheld POS device that enhances the table turn times through tableside ordering and payment acceptance; and Toast Tap, a card reader.