Nordea Investment Management AB Acquires Shares of 20,594 Toast, Inc. (NYSE:TOST)

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

Several other institutional investors and hedge funds also recently made changes to their positions in the company. Vanguard Group Inc. boosted its position in Toast by 23.6% in the third quarter. Vanguard Group Inc. now owns 27,413,189 shares of the company’s stock worth $458,348,000 after purchasing an additional 5,232,858 shares during the last quarter. Altimeter Capital Management LP boosted its holdings in shares of Toast by 3,508.4% in the 1st quarter. Altimeter Capital Management LP now owns 18,041,796 shares of the company’s stock worth $3,933,007,000 after buying an additional 17,541,796 shares during the last quarter. Durable Capital Partners LP increased its holdings in Toast by 85.1% during the third quarter. Durable Capital Partners LP now owns 14,705,314 shares of the company’s stock worth $245,873,000 after buying an additional 6,762,023 shares during the last quarter. BlackRock Inc. raised its position in Toast by 4.6% in the third quarter. BlackRock Inc. now owns 10,806,315 shares of the company’s stock worth $180,681,000 after acquiring an additional 472,385 shares during the period. Finally, Capital International Investors boosted its stake in Toast by 13.6% in the first quarter. Capital International Investors now owns 9,032,309 shares of the company’s stock valued at $196,272,000 after acquiring an additional 1,081,510 shares during the last quarter. Hedge funds and other institutional investors own 50.82% of the company’s stock.

Toast Trading Down 0.3 %

TOST stock opened at $19.43 on Tuesday. The company’s 50 day moving average is $17.73 and its 200 day moving average is $19.02. The stock has a market cap 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 quarterly earnings results on Tuesday, May 9th. The company reported ($0.16) EPS for the quarter, topping analysts’ consensus estimates of ($0.18) by $0.02. Toast had a negative net margin of 10.03% and a negative return on equity of 24.30%. The firm had revenue of $819.00 million for the quarter, compared to analyst estimates of $763.11 million. During the same quarter in the prior year, the firm earned ($0.20) EPS. The business’s revenue for the quarter was up 53.1% compared to the same quarter last year. As a group, sell-side analysts forecast that Toast, Inc. will post -0.6 EPS for the current fiscal year.

Wall Street Analyst Weigh In

TOST has been the subject of several research reports. Credit Suisse Group increased their price objective on Toast from $21.50 to $23.00 and gave the company a “neutral” rating in a report on Friday, February 17th. Needham & Company LLC decreased their price objective on Toast from $32.00 to $30.00 and set a “buy” rating for the company in a report on Friday, February 17th. Piper Sandler boosted their price objective on Toast from $22.00 to $23.00 and gave the company an “overweight” rating in a research note on Friday, February 17th. DA Davidson reiterated a “buy” rating on shares of Toast in a research report on Monday, April 3rd. Finally, BNP Paribas began coverage on shares of Toast in a research report on Thursday, March 23rd. They issued a “neutral” rating and a $16.00 price target on the stock. Nine research analysts have rated the stock with a hold rating and eight have given a buy rating to the stock. According to MarketBeat, the company presently has an average rating of “Hold” and an average price target of $22.63.

Insider Buying and Selling at Toast

In other news, insider Stephen Fredette sold 1,485 shares of the stock in a transaction dated Tuesday, April 4th. The stock was sold at an average price of $17.86, for a total transaction of $26,522.10. Following the transaction, the insider now directly owns 3,425,063 shares in the company, valued at approximately $61,171,625.18. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through 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 shares were sold at an average price of $17.16, for a total transaction of $104,521.56. Following the completion of the sale, the insider now directly owns 46,006 shares in the company, valued at $789,462.96. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. Also, insider Stephen Fredette sold 1,485 shares of Toast stock in a transaction dated Tuesday, April 4th. The stock was sold at an average price of $17.86, for a total value of $26,522.10. Following the completion of the transaction, the insider now owns 3,425,063 shares in the company, valued at approximately $61,171,625.18. The disclosure for this sale can be found here. Insiders have sold 391,624 shares of company stock worth $7,509,569 over the last 90 days. Corporate insiders own 20.16% of the company’s stock.

About Toast

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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.