Skandinaviska Enskilda Banken AB publ Has $3.97 Million Stake in Toast, Inc. $TOST

Skandinaviska Enskilda Banken AB publ trimmed its holdings in shares of Toast, Inc. (NYSE:TOST) by 17.5% in the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 108,634 shares of the company’s stock after selling 23,006 shares during the period. Skandinaviska Enskilda Banken AB publ’s holdings in Toast were worth $3,966,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. NewEdge Advisors LLC grew its holdings in Toast by 1,555.5% during the 1st quarter. NewEdge Advisors LLC now owns 17,432 shares of the company’s stock worth $578,000 after acquiring an additional 16,379 shares during the period. Harbour Investments Inc. lifted its stake in shares of Toast by 43.1% in the 2nd quarter. Harbour Investments Inc. now owns 1,827 shares of the company’s stock valued at $81,000 after purchasing an additional 550 shares during the period. Cullen Frost Bankers Inc. boosted its position in shares of Toast by 1,383.8% in the 2nd quarter. Cullen Frost Bankers Inc. now owns 1,009 shares of the company’s stock worth $45,000 after purchasing an additional 941 shares during the last quarter. Ethic Inc. boosted its position in shares of Toast by 32.7% in the 2nd quarter. Ethic Inc. now owns 28,820 shares of the company’s stock worth $1,265,000 after purchasing an additional 7,101 shares during the last quarter. Finally, Bleakley Financial Group LLC acquired a new stake in shares of Toast during the second quarter worth $495,000. 82.91% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

TOST has been the topic of several analyst reports. Weiss Ratings reissued a “hold (c-)” rating on shares of Toast in a research note on Monday, December 29th. The Goldman Sachs Group lowered their price target on Toast from $43.00 to $31.00 and set a “neutral” rating for the company in a research note on Tuesday. Stephens set a $42.00 price target on shares of Toast in a research report on Friday, January 16th. Evercore upgraded shares of Toast from an “in-line” rating to an “outperform” rating and set a $40.00 price objective for the company in a report on Tuesday, January 20th. Finally, Truist Financial set a $42.00 target price on shares of Toast in a research note on Tuesday, January 20th. Seventeen equities research analysts have rated the stock with a Buy rating and seven have issued a Hold rating to the stock. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average price target of $40.71.

Toast Stock Performance

Shares of TOST opened at $26.99 on Friday. The stock has a 50 day simple moving average of $32.78 and a 200 day simple moving average of $36.55. Toast, Inc. has a 52-week low of $25.91 and a 52-week high of $49.66. The firm has a market capitalization of $14.14 billion, a PE ratio of 49.98 and a beta of 1.93.

Toast (NYSE:TOST) last announced its earnings results on Thursday, February 12th. The company reported $0.16 EPS for the quarter, missing the consensus estimate of $0.24 by ($0.08). The company had revenue of $1.63 billion for the quarter, compared to analyst estimates of $1.62 billion. Toast had a return on equity of 18.14% and a net margin of 5.56%.The business’s quarterly revenue was up 22.0% on a year-over-year basis. During the same quarter last year, the business posted $0.05 earnings per share. Equities research analysts predict that Toast, Inc. will post 0.39 EPS for the current fiscal year.

Toast announced that its Board of Directors has initiated a share buyback plan on Thursday, February 12th that permits the company to repurchase $0.00 in outstanding shares. This repurchase authorization permits the company to buy shares of its stock through open market purchases. Shares repurchase plans are generally an indication that the company’s board believes its shares are undervalued.

Insider Buying and Selling at Toast

In related news, CRO Jonathan Vassil sold 1,454 shares of the business’s stock in a transaction on Tuesday, February 3rd. The shares were sold at an average price of $30.34, for a total value of $44,114.36. Following the sale, the executive directly owned 139,893 shares of the company’s stock, valued at approximately $4,244,353.62. The trade was a 1.03% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, President Stephen Fredette sold 1,060 shares of the company’s stock in a transaction on Tuesday, February 3rd. The stock was sold at an average price of $30.34, for a total transaction of $32,160.40. Following the completion of the transaction, the president directly owned 913,067 shares of the company’s stock, valued at approximately $27,702,452.78. The trade was a 0.12% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold a total of 100,856 shares of company stock valued at $3,540,449 over the last quarter. 12.14% of the stock is currently owned by corporate insiders.

About Toast

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.