Nordea Investment Management AB Increases Stock Holdings in Toast, Inc. $TOST

Nordea Investment Management AB lifted its position in Toast, Inc. (NYSE:TOST) by 55.5% in the second quarter, HoldingsChannel reports. The firm owned 92,721 shares of the company’s stock after buying an additional 33,097 shares during the period. Nordea Investment Management AB’s holdings in Toast were worth $4,107,000 at the end of the most recent quarter.

Other large investors also recently bought and sold shares of the company. Ameritas Advisory Services LLC acquired a new position in Toast in the second quarter valued at about $31,000. Wayfinding Financial LLC acquired a new position in Toast in the first quarter valued at about $34,000. REAP Financial Group LLC lifted its position in Toast by 173.3% in the second quarter. REAP Financial Group LLC now owns 798 shares of the company’s stock valued at $35,000 after buying an additional 506 shares during the last quarter. SBI Securities Co. Ltd. lifted its position in Toast by 29.2% in the first quarter. SBI Securities Co. Ltd. now owns 1,257 shares of the company’s stock valued at $42,000 after buying an additional 284 shares during the last quarter. Finally, Signaturefd LLC lifted its position in Toast by 227.1% in the first quarter. Signaturefd LLC now owns 1,472 shares of the company’s stock valued at $49,000 after buying an additional 1,022 shares during the last quarter. Institutional investors and hedge funds own 82.91% of the company’s stock.

Toast Stock Up 2.4%

Shares of Toast stock opened at $38.57 on Wednesday. The firm has a market capitalization of $19.67 billion, a P/E ratio of 113.45 and a beta of 1.94. Toast, Inc. has a 52 week low of $28.12 and a 52 week high of $49.66. The firm’s 50 day moving average is $40.00 and its two-hundred day moving average is $41.03.

Toast (NYSE:TOST) last announced its quarterly earnings results on Tuesday, August 5th. The company reported $0.13 EPS for the quarter, missing the consensus estimate of $0.23 by ($0.10). The company 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 business’s revenue for the quarter was up 24.8% on a year-over-year basis. During the same quarter in the prior year, the company earned $0.02 earnings per share. As a group, research analysts expect that Toast, Inc. will post 0.39 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

A number of research firms have commented on TOST. JPMorgan Chase & Co. upped their target price on shares of Toast from $42.00 to $52.00 and gave the company a “neutral” rating in a research report on Wednesday, August 6th. Wall Street Zen raised shares of Toast from a “hold” rating to a “buy” rating in a research report on Friday, October 3rd. Truist Financial increased their price target on shares of Toast from $48.00 to $50.00 and gave the stock a “buy” rating in a research report on Thursday, July 17th. DA Davidson increased their price target on shares of Toast from $40.00 to $46.00 and gave the stock a “neutral” rating in a research report on Tuesday, July 29th. Finally, Jefferies Financial Group increased their price target on shares of Toast from $50.00 to $54.00 and gave the stock a “buy” rating in a research report on Friday, July 18th. Fifteen research analysts have rated the stock with a Buy rating and ten have assigned a Hold rating to the stock. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $46.09.

Insider Buying and Selling

In other news, President Stephen Fredette sold 7,550 shares of the firm’s stock in a transaction that occurred on Thursday, October 2nd. The shares were sold at an average price of $35.56, for a total transaction of $268,478.00. Following the transaction, the president directly owned 898,475 shares in the company, valued at approximately $31,949,771. This trade represents a 0.83% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, CEO Aman Narang sold 13,652 shares of the firm’s stock in a transaction that occurred on Thursday, October 2nd. The stock was sold at an average price of $35.56, for a total transaction of $485,465.12. Following the transaction, the chief executive officer owned 318,150 shares in the company, valued at approximately $11,313,414. This trade represents a 4.11% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 62,196 shares of company stock valued at $2,398,513 over the last three months. 12.14% of the stock is currently owned by insiders.

About Toast

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.