Skandinaviska Enskilda Banken AB publ Buys New Shares in Toast, Inc. (NYSE:TOST)

Posted by on May 14th, 2023

Skandinaviska Enskilda Banken AB publ bought a new stake in Toast, Inc. (NYSE:TOST – Get Rating) during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor bought 47,139 shares of the company’s stock, valued at approximately $850,000.

A number of other institutional investors have also added to or reduced their stakes in the company. Altimeter Capital Management LP raised its stake in shares of Toast by 3,508.4% during the first quarter. Altimeter Capital Management LP now owns 18,041,796 shares of the company’s stock worth $3,933,007,000 after acquiring an additional 17,541,796 shares in the last quarter. Durable Capital Partners LP lifted its stake in shares of Toast by 85.1% in the 3rd quarter. Durable Capital Partners LP now owns 14,705,314 shares of the company’s stock valued at $245,873,000 after acquiring an additional 6,762,023 shares during the last quarter. Vanguard Group Inc. lifted its stake in shares of Toast by 23.6% in the 3rd quarter. Vanguard Group Inc. now owns 27,413,189 shares of the company’s stock valued at $458,348,000 after acquiring an additional 5,232,858 shares during the last quarter. State Street Corp lifted its stake in shares of Toast by 842.9% in the 2nd quarter. State Street Corp now owns 3,070,960 shares of the company’s stock valued at $39,738,000 after acquiring an additional 2,745,261 shares during the last quarter. Finally, First Trust Advisors LP bought a new stake in shares of Toast in the 1st quarter valued at about $33,356,000. Institutional investors own 50.82% of the company’s stock.

Insider Activity at Toast

In related news, insider Stephen Fredette sold 1,485 shares of the stock in a transaction dated Tuesday, April 4th. The shares were sold at an average price of $17.86, for a total transaction of $26,522.10. Following the sale, the insider now directly owns 3,425,063 shares of the company’s stock, valued at approximately $61,171,625.18. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. In other Toast news, insider Stephen Fredette sold 1,485 shares of Toast stock in a transaction on 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 sale, the insider now owns 3,425,063 shares of the company’s stock, valued at approximately $61,171,625.18. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, CEO Christopher P. Comparato sold 33,333 shares of Toast stock in a transaction on Monday, March 20th. The stock was sold at an average price of $16.70, for a total value of $556,661.10. Following the completion of the sale, the chief executive officer now directly owns 109,895 shares of the company’s stock, valued at approximately $1,835,246.50. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 468,834 shares of company stock valued at $9,689,269. 20.16% of the stock is owned by insiders.

Toast Stock Down 6.3 %

Shares of TOST opened at $19.49 on Friday. The business’s 50 day moving average price is $17.71 and its 200-day moving average price is $19.06. Toast, Inc. has a 52 week low of $12.15 and a 52 week high of $26.03. The stock has a market cap of $10.27 billion, a P/E ratio of -29.98 and a beta of 1.75.

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 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 analysts’ expectations of $763.11 million. During the same period in the previous year, the firm posted ($0.20) EPS. The business’s revenue for the quarter was up 53.1% compared to the same quarter last year. On average, equities analysts anticipate that Toast, Inc. will post -0.6 EPS for the current year.

Wall Street Analysts Forecast Growth

TOST has been the subject of a number of recent research reports. DA Davidson reissued a “buy” rating on shares of Toast in a research note on Monday, April 3rd. Stephens began coverage on shares of Toast in a research report on Thursday, April 13th. They set an “equal weight” rating and a $18.00 price target for the company. Credit Suisse Group increased their price target on shares of Toast from $21.50 to $23.00 and gave the company a “neutral” rating in a research report on Friday, February 17th. Mizuho dropped their price target on shares of Toast from $24.00 to $23.00 and set a “buy” rating for the company in a research report on Friday, February 17th. Finally, Sumitomo Mitsui Financial Group lowered 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. Nine analysts have rated the stock with a hold rating and eight have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus target price 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.

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Institutional Ownership by Quarter for Toast (NYSE:TOST)

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