Mediolanum International Funds Ltd Sells 288,278 Shares of Toast, Inc. $TOST

Mediolanum International Funds Ltd lessened its stake in Toast, Inc. (NYSE:TOST) by 60.5% in the third quarter, HoldingsChannel reports. The firm owned 187,865 shares of the company’s stock after selling 288,278 shares during the period. Mediolanum International Funds Ltd’s holdings in Toast were worth $6,975,000 at the end of the most recent quarter.

A number of other hedge funds have also modified their holdings of the company. Quent Capital LLC acquired a new position in Toast during the third quarter valued at approximately $27,000. RiverPark Advisors LLC bought a new position in shares of Toast during the second quarter worth $30,000. Alpine Bank Wealth Management acquired a new position in shares of Toast in the 3rd quarter valued at $30,000. Ameritas Advisory Services LLC bought a new stake in shares of Toast in the 2nd quarter valued at $31,000. Finally, REAP Financial Group LLC raised its stake in Toast by 173.3% during the 2nd quarter. REAP Financial Group LLC now owns 798 shares of the company’s stock worth $35,000 after buying an additional 506 shares during the period. 82.91% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of research analysts have issued reports on the company. DA Davidson decreased their target price on Toast from $42.00 to $36.00 and set a “neutral” rating for the company in a research note on Monday. Royal Bank Of Canada set a $45.00 target price on shares of Toast in a report on Wednesday, November 5th. The Goldman Sachs Group cut their price target on shares of Toast from $51.00 to $41.00 and set a “neutral” rating on the stock in a research note on Monday, October 13th. UBS Group reissued a “buy” rating on shares of Toast in a research report on Thursday, December 18th. Finally, Morgan Stanley boosted their price objective on shares of Toast from $54.00 to $56.00 and gave the company an “overweight” rating in a research report on Wednesday, November 5th. Two equities research analysts have rated the stock with a Strong Buy rating, thirteen have given a Buy rating and eight have assigned a Hold rating to the company. According to data from MarketBeat, Toast has a consensus rating of “Moderate Buy” and an average target price of $45.55.

Insider Buying and Selling

In other news, CEO Aman Narang sold 8,591 shares of the stock in a transaction that occurred on Monday, January 5th. The stock was sold at an average price of $34.38, for a total value of $295,358.58. Following the completion of the sale, the chief executive officer owned 338,850 shares of the company’s stock, valued at approximately $11,649,663. This represents a 2.47% decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, CFO Elena Gomez sold 6,672 shares of the business’s stock in a transaction on Monday, January 5th. The stock was sold at an average price of $34.38, for a total transaction of $229,383.36. Following the transaction, the chief financial officer owned 162,153 shares in the company, valued at approximately $5,574,820.14. The trade was a 3.95% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold 94,609 shares of company stock worth $3,350,915 over the last three months. Company insiders own 12.14% of the company’s stock.

Toast Stock Up 1.4%

Shares of TOST stock opened at $31.54 on Tuesday. Toast, Inc. has a 12 month low of $28.12 and a 12 month high of $49.66. The company’s fifty day simple moving average is $34.71 and its 200-day simple moving average is $38.40. The firm has a market cap of $16.24 billion, a PE ratio of 73.34 and a beta of 1.93.

Toast (NYSE:TOST) last issued its quarterly earnings results on Tuesday, November 4th. The company reported $0.16 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.24 by ($0.08). Toast had a net margin of 4.68% and a return on equity of 15.77%. The business had revenue of $1.63 billion during the quarter, compared to analyst estimates of $1.58 billion. During the same quarter in the previous year, the firm posted $0.07 earnings per share. The firm’s quarterly revenue was up 25.1% on a year-over-year basis. On average, equities analysts predict that Toast, Inc. will post 0.39 earnings per share for the current fiscal year.

Toast Company Profile

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.