Andra AP fonden Has $10.59 Million Stock Position in Toast, Inc. $TOST

Andra AP fonden decreased its position in Toast, Inc. (NYSE:TOST - Free Report) by 32.8% during the 1st quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 399,267 shares of the company's stock after selling 194,933 shares during the period. Andra AP fonden owned 0.08% of Toast worth $10,585,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in TOST. Jennison Associates LLC boosted its stake in shares of Toast by 1.0% in the 4th quarter. Jennison Associates LLC now owns 15,157,955 shares of the company's stock valued at $538,259,000 after purchasing an additional 157,394 shares during the last quarter. Morgan Stanley lifted its holdings in Toast by 6.7% in the fourth quarter. Morgan Stanley now owns 10,372,626 shares of the company's stock valued at $368,332,000 after buying an additional 653,487 shares during the period. State Street Corp boosted its stake in Toast by 3.0% in the fourth quarter. State Street Corp now owns 9,820,594 shares of the company's stock valued at $348,729,000 after acquiring an additional 282,282 shares during the last quarter. XN LP boosted its stake in Toast by 50.8% in the fourth quarter. XN LP now owns 8,988,386 shares of the company's stock valued at $319,178,000 after acquiring an additional 3,029,856 shares during the last quarter. Finally, Geode Capital Management LLC grew its holdings in Toast by 2.0% during the 4th quarter. Geode Capital Management LLC now owns 8,675,056 shares of the company's stock worth $307,214,000 after acquiring an additional 169,230 shares during the period. 82.91% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several equities analysts have weighed in on TOST shares. Robert W. Baird increased their target price on Toast from $30.00 to $33.00 and gave the company a "neutral" rating in a research note on Wednesday, July 8th. DA Davidson cut their price target on shares of Toast from $33.00 to $28.00 and set a "neutral" rating on the stock in a research report on Tuesday, May 12th. Piper Sandler started coverage on shares of Toast in a research note on Wednesday, June 10th. They set an "overweight" rating and a $32.00 price objective on the stock. Mizuho lowered their target price on shares of Toast from $45.00 to $38.00 and set an "outperform" rating for the company in a research note on Tuesday, May 12th. Finally, Weiss Ratings reissued a "hold (c)" rating on shares of Toast in a research report on Wednesday, May 20th. Two analysts have rated the stock with a Strong Buy rating, sixteen have given a Buy rating and eight have given a Hold rating to the company's stock. According to MarketBeat, the stock currently has an average rating of "Moderate Buy" and a consensus price target of $36.96.

Insiders Place Their Bets

In related news, General Counsel Brian R. Elworthy sold 108,000 shares of the firm's stock in a transaction dated Friday, May 29th. The shares were sold at an average price of $25.89, for a total transaction of $2,796,120.00. Following the transaction, the general counsel directly owned 189,642 shares of the company's stock, valued at approximately $4,909,831.38. This trade represents a 36.29% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CRO Jonathan Vassil sold 6,647 shares of the business's stock in a transaction dated Thursday, July 2nd. The shares were sold at an average price of $28.85, for a total transaction of $191,765.95. Following the completion of the sale, the executive directly owned 69,966 shares of the company's stock, valued at $2,018,519.10. This represents a 8.68% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Insiders have sold 159,265 shares of company stock worth $4,278,832 in the last 90 days. Corporate insiders own 10.03% of the company's stock.

Toast Stock Down 1.5%

NYSE:TOST opened at $30.40 on Wednesday. Toast, Inc. has a twelve month low of $22.26 and a twelve month high of $49.66. The business has a 50 day moving average price of $26.19 and a two-hundred day moving average price of $28.12. The company has a market cap of $15.69 billion, a P/E ratio of 46.77 and a beta of 1.74.

Toast (NYSE:TOST - Get Free Report) last issued its quarterly earnings results on Thursday, May 7th. The company reported $0.20 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.28 by ($0.08). The business had revenue of $1.63 billion during the quarter, compared to analyst estimates of $1.63 billion. Toast had a net margin of 6.39% and a return on equity of 20.86%. The firm's quarterly revenue was up 21.9% on a year-over-year basis. During the same quarter in the previous year, the firm posted $0.09 earnings per share. As a group, analysts anticipate that Toast, Inc. will post 0.97 earnings per share for the current fiscal year.

About Toast

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.

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