Swedbank AB Raises Position in Toast, Inc. $TOST

Key Points

• Swedbank AB significantly increased its stake in Toast, Inc. by 523.4% in the first quarter, bringing its total holdings to $1.72 million.
• Several research firms have upgraded their ratings for Toast, notably Citigroup and Wall Street Zen, with the average consensus now standing at a "Moderate Buy".
• Toast's quarterly earnings report showed a revenue increase of 24.8% year-over-year, but the EPS of $0.13 fell short of the consensus estimate of $0.23.

Swedbank AB boosted its stake in shares of Toast, Inc. (NYSE:TOST - Free Report) by 523.4% during the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 51,864 shares of the company's stock after acquiring an additional 43,545 shares during the quarter. Swedbank AB's holdings in Toast were worth $1,720,000 as of its most recent SEC filing.

Several other large investors also recently added to or reduced their stakes in TOST. Wayfinding Financial LLC bought a new stake in Toast during the first quarter worth approximately $34,000. Piscataqua Savings Bank increased its stake in Toast by 57.1% during the first quarter. Piscataqua Savings Bank now owns 1,100 shares of the company's stock worth $36,000 after acquiring an additional 400 shares during the last quarter. West Branch Capital LLC increased its stake in Toast by 862.1% during the first quarter. West Branch Capital LLC now owns 1,116 shares of the company's stock worth $37,000 after acquiring an additional 1,000 shares during the last quarter. SBI Securities Co. Ltd. increased its stake in Toast by 29.2% during the first quarter. SBI Securities Co. Ltd. now owns 1,257 shares of the company's stock worth $42,000 after acquiring an additional 284 shares during the last quarter. Finally, Signaturefd LLC increased its stake in Toast by 227.1% during the first quarter. Signaturefd LLC now owns 1,472 shares of the company's stock worth $49,000 after acquiring an additional 1,022 shares during the last quarter. 82.91% of the stock is owned by institutional investors.

Insider Activity at Toast

In other Toast news, CRO Jonathan Vassil sold 1,427 shares of the company's stock in a transaction on Monday, August 4th. The stock was sold at an average price of $48.38, for a total transaction of $69,038.26. Following the completion of the sale, the executive owned 63,298 shares in the company, valued at $3,062,357.24. This represents a 2.20% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CFO Elena Gomez sold 2,006 shares of the company's stock in a transaction on Monday, August 4th. The stock was sold at an average price of $48.38, for a total value of $97,050.28. Following the sale, the chief financial officer owned 141,263 shares of the company's stock, valued at approximately $6,834,303.94. This represents a 1.40% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 88,342 shares of company stock valued at $3,804,710 over the last 90 days. Insiders own 12.14% of the company's stock.

Toast Trading Down 0.8%

Shares of NYSE TOST traded down $0.32 during trading hours on Friday, reaching $41.16. The stock had a trading volume of 5,114,136 shares, compared to its average volume of 7,402,605. The firm has a market cap of $20.99 billion, a price-to-earnings ratio of 121.06 and a beta of 2.00. The business's fifty day moving average price is $44.29 and its two-hundred day moving average price is $40.54. Toast, Inc. has a 52-week low of $26.63 and a 52-week high of $49.66.

Toast (NYSE:TOST - Get Free Report) last announced its quarterly earnings results on Tuesday, August 5th. The company reported $0.13 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $0.23 by ($0.10). The firm had revenue of $1.55 billion during the quarter, compared to analysts' expectations of $1.52 billion. Toast had a net margin of 4.07% and a return on equity of 14.19%. The firm's revenue for the quarter was up 24.8% on a year-over-year basis. During the same quarter in the previous year, the firm posted $0.02 EPS. Equities research analysts anticipate that Toast, Inc. will post 0.39 earnings per share for the current fiscal year.

Analysts Set New Price Targets

A number of research analysts have recently commented on the company. Morgan Stanley upped their target price on Toast from $50.00 to $54.00 and gave the company an "overweight" rating in a research note on Wednesday, August 6th. Citigroup reaffirmed a "buy" rating on shares of Toast in a research note on Wednesday, July 16th. Wells Fargo & Company assumed coverage on Toast in a research note on Wednesday, July 16th. They set a "buy" rating on the stock. The Goldman Sachs Group upped their target price on Toast from $45.00 to $51.00 and gave the company a "neutral" rating in a research note on Wednesday, August 6th. Finally, Canaccord Genuity Group upped their target price on Toast from $48.00 to $54.00 and gave the company a "buy" rating in a research note on Wednesday, August 6th. Fifteen investment analysts have rated the stock with a Buy rating and ten have given a Hold rating to the stock. According to data from MarketBeat, the company has a consensus rating of "Moderate Buy" and an average price target of $46.30.

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.