SEB Asset Management AB Acquires New Shares in Toast, Inc. $TOST

SEB Asset Management AB bought a new stake in shares of Toast, Inc. (NYSE:TOST) during the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund bought 88,732 shares of the company’s stock, valued at approximately $2,352,000.

Other institutional investors have also recently made changes to their positions in the company. Swiss National Bank boosted its holdings in shares of Toast by 8.2% in the first quarter. Swiss National Bank now owns 1,360,400 shares of the company’s stock worth $36,064,000 after acquiring an additional 102,600 shares during the period. Angeles Wealth Management LLC grew its position in shares of Toast by 4.5% in the first quarter. Angeles Wealth Management LLC now owns 23,949 shares of the company’s stock valued at $635,000 after purchasing an additional 1,029 shares in the last quarter. Bessemer Group Inc. raised its stake in shares of Toast by 4.7% during the 1st quarter. Bessemer Group Inc. now owns 43,929 shares of the company’s stock valued at $1,165,000 after purchasing an additional 1,957 shares during the period. Independent Financial Group LLC bought a new stake in shares of Toast during the 1st quarter valued at $237,000. Finally, Aware Super Pty Ltd as trustee of Aware Super purchased a new stake in Toast during the 1st quarter worth about $6,716,000. Hedge funds and other institutional investors own 82.91% of the company’s stock.

Toast Stock Performance

NYSE:TOST opened at $28.38 on Friday. Toast, Inc. has a 52-week low of $22.26 and a 52-week high of $49.66. The stock has a fifty day moving average of $26.43 and a 200 day moving average of $28.04. The firm has a market capitalization of $14.64 billion, a price-to-earnings ratio of 43.66 and a beta of 1.74.

Toast (NYSE:TOST) last announced its earnings results on Thursday, May 7th. The company reported $0.20 earnings per share for the quarter, missing analysts’ consensus estimates of $0.28 by ($0.08). Toast had a return on equity of 20.86% and a net margin of 6.39%.The business had revenue of $1.63 billion during the quarter, compared to the consensus estimate of $1.63 billion. During the same quarter in the prior year, the company earned $0.09 earnings per share. Toast’s revenue was up 21.9% compared to the same quarter last year. Equities analysts forecast that Toast, Inc. will post 0.97 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

Several brokerages have commented on TOST. Rothschild & Co Redburn restated a “neutral” rating and issued a $35.00 target price on shares of Toast in a research note on Tuesday, May 12th. Truist Financial decreased their price target on Toast from $36.00 to $30.00 and set a “buy” rating on the stock in a research report on Tuesday, May 12th. Oppenheimer reissued an “outperform” rating and issued a $36.00 price target on shares of Toast in a report on Friday, May 8th. Wall Street Zen lowered shares of Toast from a “buy” rating to a “hold” rating in a research report on Saturday, July 4th. Finally, Weiss Ratings reaffirmed a “hold (c)” rating on shares of Toast in a research note on Wednesday, May 20th. Two research analysts have rated the stock with a Strong Buy rating, sixteen have assigned a Buy rating and eight have assigned a Hold rating to the company. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and an average price target of $36.96.

Insider Activity at Toast

In related news, CRO Jonathan Vassil sold 6,647 shares of the company’s stock in a transaction that occurred on Thursday, July 2nd. The shares were sold at an average price of $28.85, for a total value of $191,765.95. Following the transaction, the executive directly owned 69,966 shares in the company, valued at approximately $2,018,519.10. This represents a 8.68% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, General Counsel Brian R. Elworthy sold 108,000 shares of the firm’s stock in a transaction that occurred on Friday, May 29th. The shares were sold at an average price of $25.89, for a total transaction of $2,796,120.00. Following the completion of the sale, the general counsel directly owned 189,642 shares in the company, valued at $4,909,831.38. This represents a 36.29% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders have sold 159,265 shares of company stock valued at $4,278,832 in the last ninety days. Insiders own 10.03% of the company’s stock.

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.