Skandinaviska Enskilda Banken AB publ Raises Holdings in Toast, Inc. (NYSE:TOST)

Skandinaviska Enskilda Banken AB publ raised its holdings in Toast, Inc. (NYSE:TOST) by 3.1% during the second quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 73,109 shares of the company’s stock after purchasing an additional 2,200 shares during the quarter. Skandinaviska Enskilda Banken AB publ’s holdings in Toast were worth $1,884,000 as of its most recent SEC filing.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Whale Rock Capital Management LLC acquired a new stake in shares of Toast during the first quarter valued at about $179,111,000. Norges Bank purchased a new position in shares of Toast during the 4th quarter worth approximately $76,699,000. Meritage Group LP acquired a new stake in Toast in the 4th quarter valued at approximately $70,270,000. Capital International Investors raised its position in Toast by 12.2% in the first quarter. Capital International Investors now owns 32,924,082 shares of the company’s stock valued at $820,468,000 after purchasing an additional 3,574,397 shares during the period. Finally, Price T Rowe Associates Inc. MD raised its position in Toast by 21.4% in the first quarter. Price T Rowe Associates Inc. MD now owns 19,524,700 shares of the company’s stock valued at $486,557,000 after purchasing an additional 3,445,788 shares during the period. Hedge funds and other institutional investors own 82.91% of the company’s stock.

Insiders Place Their Bets

In related news, CEO Aman Narang sold 6,355 shares of the company’s stock in a transaction dated Tuesday, July 2nd. The stock was sold at an average price of $25.64, for a total value of $162,942.20. Following the completion of the sale, the chief executive officer now directly owns 1,131,043 shares of the company’s stock, valued at approximately $28,999,942.52. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. In other Toast news, CEO Aman Narang sold 6,355 shares of the business’s stock in a transaction that occurred on Tuesday, July 2nd. The stock was sold at an average price of $25.64, for a total value of $162,942.20. Following the completion of the sale, the chief executive officer now owns 1,131,043 shares in the company, valued at $28,999,942.52. The sale was disclosed in a document filed with the SEC, which is available through this link. Also, General Counsel Brian R. Elworthy sold 2,573 shares of the firm’s stock in a transaction that occurred on Wednesday, July 3rd. The stock was sold at an average price of $25.64, for a total transaction of $65,971.72. Following the transaction, the general counsel now owns 170,531 shares in the company, valued at $4,372,414.84. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 652,412 shares of company stock valued at $16,213,120. 13.32% of the stock is currently owned by insiders.

Wall Street Analyst Weigh In

Several equities analysts recently issued reports on the company. Wedbush raised Toast to a “strong-buy” rating in a research note on Friday, September 6th. Royal Bank of Canada reissued a “sector perform” rating and set a $27.00 price target on shares of Toast in a research report on Wednesday, August 7th. The Goldman Sachs Group restated a “buy” rating and issued a $29.00 price objective on shares of Toast in a report on Thursday, September 12th. Stephens reiterated an “equal weight” rating and set a $28.00 target price on shares of Toast in a report on Thursday, May 30th. Finally, Mizuho upgraded shares of Toast from a “neutral” rating to an “outperform” rating and boosted their price target for the stock from $21.00 to $33.00 in a research note on Thursday, July 18th. One research analyst has rated the stock with a sell rating, eight have issued a hold rating, nine have given a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat, Toast has a consensus rating of “Moderate Buy” and a consensus target price of $28.33.

Toast Stock Down 0.2 %

Shares of TOST opened at $27.65 on Tuesday. Toast, Inc. has a 52-week low of $13.77 and a 52-week high of $28.19. The stock has a 50 day moving average price of $25.12 and a 200 day moving average price of $24.60. The company has a market capitalization of $12.53 billion, a price-to-earnings ratio of -55.30 and a beta of 1.75.

Toast (NYSE:TOST) last posted its earnings results on Tuesday, August 6th. The company reported $0.02 EPS for the quarter, beating analysts’ consensus estimates of ($0.02) by $0.04. Toast had a negative net margin of 3.10% and a negative return on equity of 11.27%. The firm had revenue of $1.24 billion for the quarter, compared to the consensus estimate of $1.22 billion. During the same period last year, the firm posted ($0.19) EPS. The company’s revenue was up 27.0% on a year-over-year basis. On average, equities analysts anticipate that Toast, Inc. will post -0.1 EPS for the current fiscal year.

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.