Handelsbanken Fonder AB Acquires 9,700 Shares of Toast, Inc. (NYSE:TOST)

Handelsbanken Fonder AB raised its holdings in Toast, Inc. (NYSE:TOST) by 18.4% during the fourth quarter, HoldingsChannel.com reports. The institutional investor owned 62,400 shares of the company’s stock after acquiring an additional 9,700 shares during the period. Handelsbanken Fonder AB’s holdings in Toast were worth $1,139,000 as of its most recent filing with the Securities & Exchange Commission.

Other large investors also recently modified their holdings of the company. Baystate Wealth Management LLC acquired a new position in Toast during the 3rd quarter valued at $29,000. BluePath Capital Management LLC bought a new position in shares of Toast during the 3rd quarter worth about $30,000. SRS Capital Advisors Inc. acquired a new position in shares of Toast during the third quarter valued at about $33,000. Larson Financial Group LLC lifted its stake in shares of Toast by 8,181.8% in the third quarter. Larson Financial Group LLC now owns 1,822 shares of the company’s stock valued at $34,000 after buying an additional 1,800 shares during the period. Finally, Spire Wealth Management grew its position in Toast by 481.6% during the third quarter. Spire Wealth Management now owns 1,838 shares of the company’s stock worth $34,000 after buying an additional 1,522 shares in the last quarter. 82.91% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity

In related news, President Stephen Fredette sold 2,272 shares of the business’s stock in a transaction that occurred on Tuesday, April 2nd. The shares were sold at an average price of $23.40, for a total value of $53,164.80. Following the completion of the transaction, the president now owns 2,835,759 shares in the company, valued at approximately $66,356,760.60. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. In other news, General Counsel Brian R. Elworthy sold 224,900 shares of the firm’s stock in a transaction dated Thursday, February 1st. The shares were sold at an average price of $18.37, for a total value of $4,131,413.00. Following the transaction, the general counsel now owns 160,340 shares of the company’s stock, valued at approximately $2,945,445.80. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, President Stephen Fredette sold 2,272 shares of Toast stock in a transaction that occurred on Tuesday, April 2nd. The stock was sold at an average price of $23.40, for a total transaction of $53,164.80. Following the sale, the president now owns 2,835,759 shares of the company’s stock, valued at approximately $66,356,760.60. The disclosure for this sale can be found here. Insiders have sold 414,486 shares of company stock valued at $8,662,487 over the last three months. 13.70% of the stock is owned by insiders.

Analyst Upgrades and Downgrades

TOST has been the subject of a number of research reports. Evercore ISI began coverage on Toast in a research report on Monday, March 4th. They issued an “outperform” rating and a $32.00 price objective for the company. Piper Sandler lifted their price target on shares of Toast from $18.00 to $20.00 and gave the stock a “neutral” rating in a research note on Friday, February 16th. Robert W. Baird increased their price objective on shares of Toast from $24.00 to $28.00 and gave the company an “outperform” rating in a research note on Monday, April 15th. Keefe, Bruyette & Woods began coverage on shares of Toast in a research note on Tuesday, April 9th. They issued a “market perform” rating and a $25.00 target price on the stock. Finally, Mizuho restated a “neutral” rating and set a $17.00 price target on shares of Toast in a research note on Wednesday, March 27th. One equities research analyst has rated the stock with a sell rating, eight have assigned a hold rating and nine have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus target price of $24.32.

Toast Price Performance

Toast stock opened at $23.91 on Monday. The business’s fifty day moving average is $23.36 and its two-hundred day moving average is $19.24. Toast, Inc. has a 52 week low of $13.77 and a 52 week high of $27.00.

Toast (NYSE:TOST) last issued its quarterly earnings results on Thursday, February 15th. The company reported ($0.07) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.11) by $0.04. The business had revenue of $1.04 billion for the quarter, compared to the consensus estimate of $1.02 billion. Toast had a negative net margin of 6.36% and a negative return on equity of 21.77%. The firm’s quarterly revenue was up 34.7% on a year-over-year basis. During the same quarter in the prior year, the company earned ($0.19) EPS. On average, equities analysts expect that Toast, Inc. will post -0.22 earnings per share for the current fiscal year.

About Toast

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.