Toast, Inc. (NYSE:TOST) Shares Bought by Handelsbanken Fonder AB

Handelsbanken Fonder AB grew its position in shares of Toast, Inc. (NYSE:TOST - Free Report) by 13.5% during the first quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 113,400 shares of the company's stock after purchasing an additional 13,500 shares during the period. Handelsbanken Fonder AB's holdings in Toast were worth $3,761,000 as of its most recent SEC filing.

A number of other large investors also recently added to or reduced their stakes in the company. SG Americas Securities LLC acquired a new stake in shares of Toast in the first quarter valued at $877,000. GAMMA Investing LLC raised its stake in shares of Toast by 38.7% in the first quarter. GAMMA Investing LLC now owns 3,861 shares of the company's stock valued at $128,000 after acquiring an additional 1,077 shares in the last quarter. Regatta Capital Group LLC raised its stake in shares of Toast by 9.7% in the first quarter. Regatta Capital Group LLC now owns 12,392 shares of the company's stock valued at $411,000 after acquiring an additional 1,094 shares in the last quarter. Pallas Capital Advisors LLC acquired a new stake in shares of Toast in the first quarter valued at $816,000. Finally, Farther Finance Advisors LLC raised its stake in shares of Toast by 29.4% in the first quarter. Farther Finance Advisors LLC now owns 3,151 shares of the company's stock valued at $108,000 after acquiring an additional 716 shares in the last quarter. 82.91% of the stock is currently owned by institutional investors and hedge funds.

Toast Trading Down 2.4%

Shares of NYSE TOST traded down $1.04 during midday trading on Friday, reaching $41.50. 6,244,296 shares of the company were exchanged, compared to its average volume of 6,726,819. Toast, Inc. has a 1 year low of $21.97 and a 1 year high of $45.56. The stock has a fifty day simple moving average of $39.06 and a 200 day simple moving average of $38.05. The stock has a market cap of $20.67 billion, a P/E ratio of -4,145.85, a PEG ratio of 2.16 and a beta of 2.02.

Wall Street Analysts Forecast Growth

Several analysts have recently issued reports on the company. BNP Paribas set a $37.00 price objective on Toast and gave the company a "neutral" rating in a research note on Wednesday, February 19th. The Goldman Sachs Group reduced their price objective on Toast from $43.00 to $38.00 and set a "neutral" rating on the stock in a research note on Wednesday, April 2nd. Wall Street Zen cut Toast from a "strong-buy" rating to a "buy" rating in a research note on Sunday, June 1st. Evercore ISI initiated coverage on Toast in a report on Wednesday, April 9th. They issued an "in-line" rating and a $29.00 target price on the stock. Finally, Piper Sandler increased their target price on Toast from $35.00 to $37.00 and gave the company a "neutral" rating in a report on Friday, May 9th. Twelve equities research analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the stock. Based on data from MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and a consensus target price of $41.21.

Insider Buying and Selling

In related news, Director Richard Kent Bennett sold 9,712 shares of the firm's stock in a transaction dated Tuesday, June 10th. The shares were sold at an average price of $43.14, for a total value of $418,975.68. Following the completion of the sale, the director now owns 534,167 shares in the company, valued at $23,043,964.38. This trade represents a 1.79% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, Director Susan Chapman-Hughes sold 7,500 shares of the firm's stock in a transaction dated Friday, June 6th. The shares were sold at an average price of $44.00, for a total transaction of $330,000.00. Following the completion of the sale, the director now owns 23,030 shares of the company's stock, valued at approximately $1,013,320. The trade was a 24.57% decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 629,341 shares of company stock valued at $25,249,141 over the last quarter. 13.32% of the stock is currently owned by insiders.

Toast Company Profile

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.