Skandinaviska Enskilda Banken AB publ Grows Stock Holdings in Toast, Inc. (NYSE:TOST)

Skandinaviska Enskilda Banken AB publ grew its holdings in shares of Toast, Inc. (NYSE:TOST - Free Report) by 8.5% in the 1st quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 85,015 shares of the company's stock after buying an additional 6,673 shares during the quarter. Skandinaviska Enskilda Banken AB publ's holdings in Toast were worth $2,820,000 at the end of the most recent quarter.

Other institutional investors also recently bought and sold shares of the company. Capital International Investors lifted its position in shares of Toast by 1.9% during the fourth quarter. Capital International Investors now owns 41,961,233 shares of the company's stock worth $1,529,657,000 after purchasing an additional 785,641 shares in the last quarter. FMR LLC lifted its position in shares of Toast by 22.1% during the fourth quarter. FMR LLC now owns 29,853,639 shares of the company's stock worth $1,088,165,000 after purchasing an additional 5,403,896 shares in the last quarter. Geode Capital Management LLC lifted its position in shares of Toast by 2.9% during the fourth quarter. Geode Capital Management LLC now owns 7,061,739 shares of the company's stock worth $256,970,000 after purchasing an additional 195,805 shares in the last quarter. Sumitomo Mitsui Trust Group Inc. lifted its position in shares of Toast by 2.9% during the first quarter. Sumitomo Mitsui Trust Group Inc. now owns 5,755,872 shares of the company's stock worth $190,922,000 after purchasing an additional 160,088 shares in the last quarter. Finally, Norges Bank acquired a new position in shares of Toast during the fourth quarter worth $205,888,000. 82.91% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of research analysts have recently commented on the stock. Citigroup reissued a "buy" rating on shares of Toast in a research report on Wednesday, July 16th. Piper Sandler boosted their target price on shares of Toast from $35.00 to $37.00 and gave the stock a "neutral" rating in a research report on Friday, May 9th. Barclays reaffirmed an "overweight" rating on shares of Toast in a report on Wednesday, July 16th. Wall Street Zen cut shares of Toast from a "buy" rating to a "hold" rating in a report on Saturday, July 5th. Finally, Evercore ISI initiated coverage on shares of Toast in a report on Wednesday, April 9th. They issued an "in-line" rating and a $29.00 price target on the stock. Twelve analysts have rated the stock with a hold rating and fifteen have issued a buy rating to the company's stock. Based on data from MarketBeat, Toast has a consensus rating of "Moderate Buy" and an average price target of $43.17.

Toast Stock Performance

Shares of NYSE:TOST opened at $49.00 on Tuesday. The company's fifty day moving average is $43.87 and its two-hundred day moving average is $39.37. The stock has a market capitalization of $24.40 billion, a price-to-earnings 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 Buying and Selling at Toast

In other news, CFO Elena Gomez sold 34,170 shares of the company's stock in a transaction dated Wednesday, July 2nd. The shares were sold at an average price of $42.56, for a total transaction of $1,454,275.20. Following the completion of the transaction, the chief financial officer owned 139,357 shares in the company, valued at approximately $5,931,033.92. This represents a 19.69% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Christopher P. Comparato sold 70,000 shares of the company's stock in a transaction dated 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 transaction, the director owned 187,140 shares of the company's stock, valued at $8,372,643.60. This represents a 27.22% decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 466,131 shares of company stock valued at $20,048,851. Corporate insiders own 13.32% of the company's stock.

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.

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