Toast, Inc. (NYSE:TOST) Shares Purchased by Nordea Investment Management AB

Nordea Investment Management AB raised its holdings in shares of Toast, Inc. (NYSE:TOST) by 9.6% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 33,882 shares of the company’s stock after buying an additional 2,975 shares during the period. Nordea Investment Management AB’s holdings in Toast were worth $1,238,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of TOST. ValueAct Holdings L.P. acquired a new position in Toast during the third quarter valued at approximately $438,301,000. FMR LLC raised its stake in shares of Toast by 50.5% during the third quarter. FMR LLC now owns 24,449,743 shares of the company’s stock valued at $692,172,000 after purchasing an additional 8,205,053 shares during the period. Assenagon Asset Management S.A. raised its stake in shares of Toast by 2,889.8% during the third quarter. Assenagon Asset Management S.A. now owns 3,829,995 shares of the company’s stock valued at $108,427,000 after purchasing an additional 3,701,893 shares during the period. Marshall Wace LLP raised its stake in shares of Toast by 175.8% during the second quarter. Marshall Wace LLP now owns 2,517,288 shares of the company’s stock valued at $64,871,000 after purchasing an additional 1,604,716 shares during the period. Finally, Worldquant Millennium Advisors LLC raised its stake in shares of Toast by 1,475.0% during the third quarter. Worldquant Millennium Advisors LLC now owns 850,965 shares of the company’s stock valued at $24,091,000 after purchasing an additional 796,936 shares during the period. 82.91% of the stock is owned by institutional investors and hedge funds.

Toast Stock Down 4.0 %

TOST stock opened at $35.72 on Monday. The company has a market capitalization of $16.82 billion, a P/E ratio of -274.77, a PEG ratio of 23.40 and a beta of 1.97. The company has a 50-day simple moving average of $38.53 and a 200 day simple moving average of $30.60. Toast, Inc. has a fifty-two week low of $16.13 and a fifty-two week high of $44.12.

Insider Buying and Selling

In other Toast news, CEO Aman Narang sold 1,646 shares of the business’s stock in a transaction dated Monday, November 4th. The shares were sold at an average price of $31.08, for a total value of $51,157.68. Following the sale, the chief executive officer now directly owns 969,970 shares in the company, valued at approximately $30,146,667.60. The trade was a 0.17 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, General Counsel Brian R. Elworthy sold 300,000 shares of the business’s stock in a transaction dated Friday, October 18th. The stock was sold at an average price of $30.39, for a total transaction of $9,117,000.00. Following the completion of the sale, the general counsel now owns 177,836 shares in the company, valued at approximately $5,404,436.04. This trade represents a 62.78 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 1,109,307 shares of company stock valued at $38,235,613 over the last 90 days. 13.32% of the stock is currently owned by company insiders.

Wall Street Analyst Weigh In

A number of analysts have recently issued reports on TOST shares. Morgan Stanley lifted their price objective on shares of Toast from $30.00 to $33.00 and gave the company an “overweight” rating in a research note on Tuesday, October 22nd. Stephens lifted their price objective on shares of Toast from $28.00 to $30.00 and gave the company an “equal weight” rating in a research note on Friday, October 18th. Robert W. Baird lifted their price objective on shares of Toast from $30.00 to $38.00 and gave the company a “neutral” rating in a research note on Friday, November 8th. Deutsche Bank Aktiengesellschaft lifted their price target on shares of Toast from $24.00 to $30.00 and gave the stock a “hold” rating in a research note on Monday, November 4th. Finally, The Goldman Sachs Group dropped their price target on shares of Toast from $45.00 to $40.00 and set a “neutral” rating for the company in a research note on Friday. One analyst has rated the stock with a sell rating, twelve have given a hold rating and ten have assigned a buy rating to the stock. According to data from MarketBeat.com, Toast currently has an average rating of “Hold” and an average target price of $35.05.

Toast Profile

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.