Swedbank AB Sells 6,867 Shares of Toast, Inc. $TOST

Key Points

• Swedbank AB reduced its holdings in Toast, Inc. by 13.2%, selling 6,867 shares and ending up with 44,997 shares valued at approximately $1,993,000.
• Several institutional investors have shown increased interest in Toast, with SBI Securities raising its stake by 29.2% during the first quarter.
• Toast recently reported earnings of $0.13 per share for the quarter, missing analysts' forecast of $0.23, but showed a 24.8% increase in revenue year-over-year.

Swedbank AB reduced its position in Toast, Inc. (NYSE:TOST - Free Report) by 13.2% during the second quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 44,997 shares of the company's stock after selling 6,867 shares during the period. Swedbank AB's holdings in Toast were worth $1,993,000 at the end of the most recent quarter.

Other institutional investors have also modified their holdings of the company. SBI Securities Co. Ltd. increased its holdings in shares of Toast by 29.2% during the 1st quarter. SBI Securities Co. Ltd. now owns 1,257 shares of the company's stock valued at $42,000 after purchasing an additional 284 shares in the last quarter. Stonekeep Investments LLC increased its holdings in shares of Toast by 4.0% during the 1st quarter. Stonekeep Investments LLC now owns 7,791 shares of the company's stock valued at $258,000 after purchasing an additional 297 shares in the last quarter. Advisors Asset Management Inc. increased its holdings in shares of Toast by 7.3% during the 1st quarter. Advisors Asset Management Inc. now owns 4,439 shares of the company's stock valued at $147,000 after purchasing an additional 301 shares in the last quarter. Garde Capital Inc. increased its holdings in shares of Toast by 9.6% during the 2nd quarter. Garde Capital Inc. now owns 4,179 shares of the company's stock valued at $185,000 after purchasing an additional 367 shares in the last quarter. Finally, Piscataqua Savings Bank increased its holdings in shares of Toast by 57.1% during the 1st quarter. Piscataqua Savings Bank now owns 1,100 shares of the company's stock valued at $36,000 after purchasing an additional 400 shares in the last quarter. 82.91% of the stock is currently owned by institutional investors.

Insider Buying and Selling at Toast

In other news, Director Paul D. Bell sold 12,500 shares of the company's stock in a transaction that occurred on Thursday, August 21st. The stock was sold at an average price of $42.38, for a total transaction of $529,750.00. Following the completion of the sale, the director owned 226,892 shares in the company, valued at $9,615,682.96. This represents a 5.22% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, President Stephen Fredette sold 1,720 shares of the company's stock in a transaction that occurred on Monday, August 4th. The stock was sold at an average price of $48.38, for a total value of $83,213.60. Following the sale, the president owned 890,818 shares of the company's stock, valued at $43,097,774.84. This trade represents a 0.19% decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders have sold 88,342 shares of company stock valued at $3,804,710. Corporate insiders own 12.14% of the company's stock.

Analyst Ratings Changes

Several equities analysts have recently weighed in on the stock. Robert W. Baird set a $48.00 target price on shares of Toast in a report on Monday. Needham & Company LLC lifted their target price on shares of Toast from $50.00 to $60.00 and gave the company a "buy" rating in a report on Wednesday, August 6th. Canaccord Genuity Group lifted their target price on shares of Toast from $48.00 to $54.00 and gave the company a "buy" rating in a report on Wednesday, August 6th. Barclays reaffirmed an "overweight" rating on shares of Toast in a report on Wednesday, July 16th. Finally, Keefe, Bruyette & Woods lifted their price target on shares of Toast from $47.00 to $50.00 and gave the company a "market perform" rating in a research note on Wednesday, August 6th. Fifteen research analysts have rated the stock with a Buy rating and ten have given a Hold rating to the stock. Based on data from MarketBeat, the company currently has a consensus rating of "Moderate Buy" and an average price target of $46.65.

Toast Stock Down 5.3%

Shares of TOST opened at $38.94 on Tuesday. The stock has a 50 day moving average price of $44.14 and a 200 day moving average price of $40.69. The company has a market capitalization of $19.86 billion, a price-to-earnings ratio of 114.53 and a beta of 2.00. Toast, Inc. has a 52-week low of $26.75 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 business had revenue of $1.55 billion during the quarter, compared to analyst estimates of $1.52 billion. Toast had a net margin of 4.07% and a return on equity of 14.19%. The business's revenue for the quarter was up 24.8% compared to the same quarter last year. During the same period last year, the company earned $0.02 earnings per share. On average, equities analysts anticipate that Toast, Inc. will post 0.39 EPS for the current fiscal year.

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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