Handelsbanken Fonder AB Purchases 13,500 Shares of Toast, Inc. (NYSE:TOST)

Handelsbanken Fonder AB increased its position in shares of Toast, Inc. (NYSE:TOST) by 13.5% during the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 113,400 shares of the company’s stock after purchasing an additional 13,500 shares during the period. Handelsbanken Fonder AB’s holdings in Toast were worth $3,761,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also modified their holdings of the company. Charles Schwab Investment Management Inc. grew its position in Toast by 5.6% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 2,938,487 shares of the company’s stock valued at $107,108,000 after acquiring an additional 155,446 shares during the period. Procyon Advisors LLC bought a new stake in Toast in the first quarter valued at $242,000. Wealth Enhancement Advisory Services LLC grew its position in Toast by 19.5% in the fourth quarter. Wealth Enhancement Advisory Services LLC now owns 22,751 shares of the company’s stock valued at $829,000 after acquiring an additional 3,713 shares during the period. Jupiter Asset Management Ltd. grew its position in Toast by 134.3% in the fourth quarter. Jupiter Asset Management Ltd. now owns 392,853 shares of the company’s stock valued at $14,319,000 after acquiring an additional 225,215 shares during the period. Finally, New York Life Investment Management LLC bought a new stake in Toast in the fourth quarter valued at $1,572,000. 82.91% of the stock is currently owned by institutional investors.

Insider Activity

In related news, President Stephen Fredette sold 47,073 shares of the company’s stock in a transaction dated Monday, March 17th. The stock was sold at an average price of $35.03, for a total value of $1,648,967.19. Following the completion of the sale, the president now owns 1,491,773 shares in the company, valued at approximately $52,256,808.19. This represents a 3.06% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. Also, General Counsel Brian R. Elworthy sold 300,000 shares of the company’s stock in a transaction dated Monday, June 2nd. The shares were sold at an average price of $42.60, for a total value of $12,780,000.00. Following the completion of the sale, the general counsel now owns 216,156 shares of the company’s stock, valued at $9,208,245.60. This represents a 58.12% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 629,341 shares of company stock valued at $25,249,141 over the last 90 days. 13.32% of the stock is owned by company insiders.

Wall Street Analyst Weigh In

A number of analysts have weighed in on TOST shares. Canaccord Genuity Group upped their price target on Toast from $43.00 to $48.00 and gave the company a “buy” rating in a research report on Thursday, February 20th. DA Davidson lowered their price target on Toast from $42.00 to $40.00 and set a “neutral” rating on the stock in a research report on Wednesday, April 30th. Keefe, Bruyette & Woods upped their price target on Toast from $40.00 to $42.00 and gave the company a “market perform” rating in a research report on Thursday, February 20th. JPMorgan Chase & Co. upped their price target on Toast from $36.00 to $42.00 and gave the company a “neutral” rating in a research report on Thursday, February 20th. Finally, UBS Group boosted their price objective on Toast from $41.00 to $47.00 and gave the stock a “buy” rating in a research note on Thursday, February 20th. Twelve equities research analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average target price of $41.21.

Toast Stock Down 2.4%

Shares of TOST opened at $41.50 on Friday. Toast, Inc. has a 12-month low of $21.97 and a 12-month high of $45.56. The firm has a market capitalization of $20.67 billion, a PE ratio of -4,145.85, a price-to-earnings-growth ratio of 2.16 and a beta of 2.02. The stock’s fifty day simple moving average is $39.06 and its 200-day simple moving average is $38.05.

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.