Nykredit A S Buys Shares of 165,723 Toast, Inc. $TOST

Key Points

• Nykredit A/S initiated a Toast position by purchasing 165,723 shares valued at approximately $4.61 million during the second quarter. Institutional investors now own 82.91% of Toast’s stock.
• Toast reported quarterly revenue of $1.91 billion, up 23.1% year over year and above analyst expectations, but earnings per share of $0.26 fell short of the $0.32 consensus estimate.
• Analyst sentiment remains positive, with an average rating of “Moderate Buy” and an average price target of $39.12, while insiders sold roughly $18.17 million worth of shares over the past 90 days.

Nykredit A S bought a new position in shares of Toast, Inc. (NYSE:TOST - Free Report) during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor bought 165,723 shares of the company's stock, valued at approximately $4,610,000.

A number of other large investors also recently modified their holdings of TOST. Arkfeld Wealth Strategies L.L.C. grew its position in shares of Toast by 138.8% during the 2nd quarter. Arkfeld Wealth Strategies L.L.C. now owns 264,821 shares of the company's stock valued at $7,807,000 after buying an additional 153,928 shares during the last quarter. Assenagon Asset Management S.A. lifted its holdings in Toast by 47.4% in the second quarter. Assenagon Asset Management S.A. now owns 970,799 shares of the company's stock worth $27,008,000 after acquiring an additional 312,077 shares during the last quarter. Northwestern Mutual Wealth Management Co. lifted its holdings in Toast by 1,925.3% in the fourth quarter. Northwestern Mutual Wealth Management Co. now owns 985,653 shares of the company's stock worth $35,001,000 after acquiring an additional 936,987 shares during the last quarter. Quantitative Investment Management LLC boosted its stake in Toast by 120.1% in the second quarter. Quantitative Investment Management LLC now owns 63,823 shares of the company's stock valued at $1,775,000 after acquiring an additional 34,831 shares during the period. Finally, Lavelle Capital LP acquired a new position in Toast in the first quarter valued at approximately $1,458,000. 82.91% of the stock is currently owned by institutional investors.

Insider Activity

In related news, CRO Jonathan Vassil sold 14,280 shares of the firm's stock in a transaction that occurred on Wednesday, September 2nd. The shares were sold at an average price of $33.90, for a total value of $484,092.00. Following the completion of the transaction, the executive owned 69,966 shares of the company's stock, valued at approximately $2,371,847.40. This trade represents a 16.95% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CFO Elena Gomez sold 5,761 shares of the stock in a transaction on Monday, August 10th. The shares were sold at an average price of $35.37, for a total value of $203,766.57. Following the completion of the sale, the chief financial officer owned 160,150 shares of the company's stock, valued at $5,664,505.50. The trade was a 3.47% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders have sold 522,533 shares of company stock worth $18,172,786 over the last 90 days. 10.03% of the stock is owned by company insiders.

Toast Stock Down 0.2%

Shares of NYSE TOST opened at $29.69 on Tuesday. Toast, Inc. has a 12 month low of $22.26 and a 12 month high of $40.95. The company has a market cap of $15.26 billion, a price-to-earnings ratio of 38.06 and a beta of 1.72. The business has a fifty day simple moving average of $33.05 and a 200-day simple moving average of $28.90.

Toast (NYSE:TOST - Get Free Report) last issued its quarterly earnings results on Tuesday, August 4th. The company reported $0.26 earnings per share for the quarter, missing analysts' consensus estimates of $0.32 by ($0.06). Toast had a return on equity of 23.90% and a net margin of 7.14%.The company had revenue of $1.91 billion during the quarter, compared to analysts' expectations of $1.87 billion. During the same period in the prior year, the business posted $0.13 EPS. The company's revenue for the quarter was up 23.1% compared to the same quarter last year. As a group, sell-side analysts expect that Toast, Inc. will post 1 EPS for the current fiscal year.

Analysts Set New Price Targets

A number of analysts have recently weighed in on the company. Wall Street Zen upgraded Toast from a "hold" rating to a "buy" rating in a research report on Saturday, August 29th. Keefe, Bruyette & Woods boosted their price objective on Toast from $30.00 to $35.00 and gave the company a "market perform" rating in a research report on Wednesday, August 5th. Citigroup upped their price objective on Toast from $36.00 to $39.00 and gave the stock a "buy" rating in a research note on Wednesday, August 5th. Needham & Company LLC increased their target price on Toast from $35.00 to $45.00 and gave the stock a "buy" rating in a research report on Wednesday, August 5th. Finally, The Goldman Sachs Group upgraded Toast from a "neutral" rating to a "buy" rating and set a $36.00 target price on the stock in a research note on Thursday, July 9th. Sixteen research analysts have rated the stock with a Buy rating and eleven have given a Hold rating to the company's stock. According to data from MarketBeat.com, Toast has an average rating of "Moderate Buy" and an average target price of $39.12.

Toast Company Profile

Toast, Inc NYSE: TOST provides a cloud-based technology platform designed for restaurants and other food-service businesses. Its platform combines point-of-sale hardware and software with tools for order management, payments, menu management, reporting and business operations.

The company also offers products and services that support employee management, payroll, inventory, scheduling, online ordering, delivery, gift cards, loyalty programs and guest engagement. Toast's integrated approach is intended to help restaurants manage front-of-house and back-of-house activities through a single platform.

Toast was founded in 2011 and is headquartered in Boston, Massachusetts.

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