Mediolanum International Funds Ltd Increases Stock Holdings in Toast, Inc. (NYSE:TOST)

Mediolanum International Funds Ltd increased its holdings in Toast, Inc. (NYSE:TOST - Free Report) by 41.6% in the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 53,573 shares of the company's stock after purchasing an additional 15,729 shares during the period. Mediolanum International Funds Ltd's holdings in Toast were worth $1,799,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also made changes to their positions in the business. American Century Companies Inc. boosted its position in shares of Toast by 330.0% in the fourth quarter. American Century Companies Inc. now owns 335,965 shares of the company's stock worth $12,246,000 after buying an additional 257,831 shares during the period. Prudential Financial Inc. raised its stake in Toast by 72.9% during the fourth quarter. Prudential Financial Inc. now owns 29,500 shares of the company's stock valued at $1,075,000 after buying an additional 12,440 shares in the last quarter. Mitsubishi UFJ Trust & Banking Corp raised its stake in Toast by 15.1% during the fourth quarter. Mitsubishi UFJ Trust & Banking Corp now owns 185,105 shares of the company's stock valued at $6,747,000 after buying an additional 24,258 shares in the last quarter. Korea Investment CORP raised its stake in Toast by 2,350.0% during the fourth quarter. Korea Investment CORP now owns 236,868 shares of the company's stock valued at $8,634,000 after buying an additional 227,200 shares in the last quarter. Finally, Mitsubishi UFJ Asset Management Co. Ltd. raised its position in shares of Toast by 20.9% during the 4th quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 361,512 shares of the company's stock worth $13,593,000 after purchasing an additional 62,421 shares during the period. Hedge funds and other institutional investors own 82.91% of the company's stock.

Wall Street Analysts Forecast Growth

TOST has been the topic of a number of research reports. Wall Street Zen cut Toast from a "buy" rating to a "hold" rating in a research report on Saturday, July 5th. Morgan Stanley increased their price target on Toast from $46.00 to $50.00 and gave the stock an "overweight" rating in a research report on Friday, May 9th. Jefferies Financial Group increased their price target on Toast from $50.00 to $54.00 and gave the stock a "buy" rating in a research report on Friday, July 18th. Wolfe Research upgraded Toast from a "peer perform" rating to an "outperform" rating and set a $44.00 price target on the stock in a research report on Wednesday, April 23rd. Finally, Barclays reiterated an "overweight" rating on shares of Toast in a research report on Wednesday, July 16th. Twelve investment analysts have rated the stock with a hold rating and fifteen have assigned a buy rating to the company. According to data from MarketBeat.com, the company has an average rating of "Moderate Buy" and a consensus price target of $43.17.

Toast Stock Performance

Shares of NYSE TOST opened at $49.00 on Tuesday. The stock has a fifty day moving average price of $43.87 and a two-hundred day moving average price of $39.37. The firm has a market cap of $24.40 billion, a P/E ratio of 213.04 and a beta of 2.00. Toast, Inc. has a 1 year low of $22.10 and a 1 year high of $49.56.

Insider Activity

In other news, Director Christopher P. Comparato sold 70,000 shares of the business's stock in a transaction on Wednesday, May 14th. The stock was sold at an average price of $44.74, for a total transaction of $3,131,800.00. Following the sale, the director directly owned 187,140 shares of the company's stock, valued at $8,372,643.60. The trade was a 27.22% 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, CFO Elena Gomez sold 34,170 shares of the business's stock in a transaction on Wednesday, July 2nd. The stock was sold at an average price of $42.56, for a total value of $1,454,275.20. Following the sale, the chief financial officer directly owned 139,357 shares in the company, valued at $5,931,033.92. This trade represents a 19.69% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 466,131 shares of company stock worth $20,048,851 in the last quarter. 13.32% of the stock is currently owned by corporate insiders.

Toast 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.

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