Nykredit A S Purchases Shares of 189,449 Toast, Inc. $TOST

Key Points

• Nykredit A/S acquired 189,449 Toast shares in the second quarter, valued at approximately $5.27 million. Institutional investors and hedge funds collectively own 82.91% of Toast.
• Toast insiders sold significant holdings under pre-arranged Rule 10b5-1 plans, including the CEO’s $4.4 million sale and the CRO’s $3.1 million sale. Insiders sold 522,533 shares worth about $18.2 million over the past three months.
• Analysts remain broadly positive, with an average “Moderate Buy” rating and a $39.12 price target. Toast reported 23.1% year-over-year revenue growth to $1.91 billion, though quarterly EPS of $0.26 missed the $0.32 consensus estimate.

Nykredit A S bought a new stake in shares of Toast, Inc. (NYSE:TOST - Free Report) in the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor bought 189,449 shares of the company's stock, valued at approximately $5,270,000.

A number of other large investors have also recently bought and sold shares of TOST. Bayban acquired a new stake in Toast during the fourth quarter worth approximately $25,000. Strive Financial Group LLC acquired a new stake in Toast in the 4th quarter valued at $29,000. SHP Wealth Management bought a new stake in shares of Toast during the fourth quarter worth about $29,000. Ancora Advisors LLC bought a new stake in Toast during the 2nd quarter worth approximately $31,000. Finally, Silicon Valley Capital Partners bought a new stake in Toast during the fourth quarter worth $36,000. 82.91% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity

In other Toast news, CEO Aman Narang sold 124,542 shares of the firm's stock in a transaction dated Wednesday, August 5th. The shares were sold at an average price of $35.29, for a total value of $4,395,087.18. Following the completion of the sale, the chief executive officer directly owned 175,458 shares in the company, valued at $6,191,912.82. This trade represents a 41.51% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CRO Jonathan Vassil sold 85,280 shares of the stock in a transaction that occurred on Friday, August 21st. The stock was sold at an average price of $36.34, for a total value of $3,099,075.20. Following the completion of the transaction, the executive directly owned 69,966 shares of the company's stock, valued at $2,542,564.44. This represents a 54.93% decrease in their position. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Over the last three months, insiders have sold 522,533 shares of company stock valued at $18,172,786. Company insiders own 10.03% of the company's stock.

Analyst Upgrades and Downgrades

TOST has been the subject of a number of recent analyst reports. Piper Sandler upped their price objective on shares of Toast from $32.00 to $39.00 and gave the stock an "overweight" rating in a research report on Wednesday, August 5th. Citigroup lifted their price objective on Toast from $36.00 to $39.00 and gave the stock a "buy" rating in a report on Wednesday, August 5th. Barclays lifted their price objective on shares of Toast from $35.00 to $39.00 and gave the company an "overweight" rating in a research note on Wednesday, August 5th. Weiss Ratings reaffirmed a "hold (c)" rating on shares of Toast in a report on Monday, August 17th. Finally, Keefe, Bruyette & Woods upped their price target on shares of Toast from $30.00 to $35.00 and gave the stock a "market perform" rating in a report on Wednesday, August 5th. Sixteen equities research analysts have rated the stock with a Buy rating and eleven have given a Hold rating to the stock. Based on data from MarketBeat.com, the stock has an average rating of "Moderate Buy" and an average price target of $39.12.

Toast Price Performance

TOST opened at $33.94 on Monday. Toast, Inc. has a 1 year low of $22.26 and a 1 year high of $42.15. The stock's 50 day simple moving average is $32.41 and its 200 day simple moving average is $28.55. The firm has a market cap of $17.45 billion, a price-to-earnings ratio of 43.51 and a beta of 1.72.

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

Toast Profile

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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