Nykredit A S Takes $5.27 Million Position in Toast, Inc. $TOST

Nykredit A S acquired a new stake in shares of Toast, Inc. (NYSE:TOST) in the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm acquired 189,449 shares of the company’s stock, valued at approximately $5,270,000.

Several other hedge funds have also recently modified their holdings of the business. Arkfeld Wealth Strategies L.L.C. raised its holdings in shares of Toast by 138.8% during the second quarter. Arkfeld Wealth Strategies L.L.C. now owns 264,821 shares of the company’s stock valued at $7,807,000 after purchasing an additional 153,928 shares during the last quarter. Northwestern Mutual Wealth Management Co. increased its stake in shares of Toast by 1,925.3% in the 4th quarter. Northwestern Mutual Wealth Management Co. now owns 985,653 shares of the company’s stock worth $35,001,000 after purchasing an additional 936,987 shares in the last quarter. Assenagon Asset Management S.A. raised its stake in shares of Toast by 47.4% in the second quarter. Assenagon Asset Management S.A. now owns 970,799 shares of the company’s stock worth $27,008,000 after buying an additional 312,077 shares during the period. Lavelle Capital LP bought a new stake in Toast during the 1st quarter worth approximately $1,458,000. Finally, Quantitative Investment Management LLC raised its position in shares of Toast by 120.1% during the 2nd quarter. Quantitative Investment Management LLC now owns 63,823 shares of the company’s stock valued at $1,775,000 after purchasing an additional 34,831 shares during the period. Hedge funds and other institutional investors own 82.91% of the company’s stock.

Toast Stock Down 0.0%

Shares of NYSE:TOST opened at $33.94 on Monday. The company has a market capitalization of $17.45 billion, a price-to-earnings ratio of 43.51 and a beta of 1.72. Toast, Inc. has a 52 week low of $22.26 and a 52 week high of $42.15. The firm has a 50 day moving average of $32.41 and a 200 day moving average of $28.55.

Toast (NYSE:TOST) last issued its quarterly earnings data on Tuesday, August 4th. The company reported $0.26 earnings per share for the quarter, missing analysts’ consensus estimates of $0.32 by ($0.06). Toast had a net margin of 7.14% and a return on equity of 23.90%. The company had revenue of $1.91 billion for the quarter, compared to the consensus estimate of $1.87 billion. During the same period in the previous year, the business earned $0.13 EPS. Toast’s revenue for the quarter was up 23.1% compared to the same quarter last year. On average, sell-side analysts expect that Toast, Inc. will post 1 EPS for the current year.

Insider Activity

In other news, CRO Jonathan Vassil sold 14,280 shares of the firm’s stock in a transaction on Wednesday, September 2nd. The stock was sold at an average price of $33.90, for a total value of $484,092.00. Following the completion of the sale, the executive owned 69,966 shares of the company’s stock, valued at $2,371,847.40. This trade represents a 16.95% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CEO Aman Narang sold 119,843 shares of the firm’s stock in a transaction dated Monday, August 10th. The stock was sold at an average price of $35.38, for a total value of $4,240,045.34. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. In the last quarter, insiders sold 522,533 shares of company stock worth $18,172,786. Insiders own 10.03% of the company’s stock.

Analysts Set New Price Targets

Several analysts recently issued reports on TOST shares. The Goldman Sachs Group raised Toast from a “neutral” rating to a “buy” rating and set a $36.00 target price on the stock in a research note on Thursday, July 9th. Keefe, Bruyette & Woods upped their target price on shares of Toast from $30.00 to $35.00 and gave the company a “market perform” rating in a research report on Wednesday, August 5th. BTIG Research restated a “neutral” rating on shares of Toast in a report on Thursday, August 27th. BNP Paribas Exane lowered shares of Toast from an “outperform” rating to a “neutral” rating and reduced their price objective for the stock from $38.00 to $35.00 in a research report on Wednesday. Finally, BMO Capital Markets lifted their target price on Toast from $35.00 to $40.00 and gave the stock an “outperform” rating in a research report on Wednesday, August 5th. Sixteen analysts have rated the stock with a Buy rating and eleven have given a Hold rating to the stock. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $39.12.

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.