Mediolanum International Funds Ltd Sells 39,876 Shares of Toast, Inc. $TOST

Mediolanum International Funds Ltd lessened its stake in shares of Toast, Inc. (NYSE:TOST) by 25.6% in the 1st quarter, HoldingsChannel.com reports. The firm owned 115,745 shares of the company’s stock after selling 39,876 shares during the period. Mediolanum International Funds Ltd’s holdings in Toast were worth $3,016,000 as of its most recent filing with the SEC.

Several other hedge funds and other institutional investors have also added to or reduced their stakes in TOST. Angeles Wealth Management LLC boosted its holdings in shares of Toast by 4.5% during the 1st 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 during the last quarter. Bessemer Group Inc. increased its holdings in Toast by 4.7% during the 1st quarter. Bessemer Group Inc. now owns 43,929 shares of the company’s stock worth $1,165,000 after purchasing an additional 1,957 shares during the period. Independent Financial Group LLC bought a new position in shares of Toast during the first quarter valued at approximately $237,000. Aware Super Pty Ltd as trustee of Aware Super purchased a new position in Toast in the first quarter worth $6,716,000. Finally, D.A. Davidson & CO. lifted its stake in shares of Toast by 52.7% during the first quarter. D.A. Davidson & CO. now owns 72,079 shares of the company’s stock worth $1,911,000 after buying an additional 24,868 shares during the period. 82.91% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

A number of research analysts have weighed in on the stock. UBS Group cut their price objective on shares of Toast from $40.00 to $34.00 and set a “buy” rating for the company in a report on Friday, May 8th. Zacks Research cut shares of Toast from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, July 7th. Weiss Ratings reissued a “hold (c)” rating on shares of Toast in a research report on Wednesday, May 20th. Oppenheimer restated an “outperform” rating and set a $36.00 price target on shares of Toast in a research note on Friday, May 8th. Finally, Barclays started coverage on shares of Toast in a research report on Tuesday, July 7th. They set an “overweight” rating and a $35.00 target price on the stock. Two analysts have rated the stock with a Strong Buy rating, sixteen have issued a Buy rating and eight have assigned a Hold rating to the company’s stock. According to data from MarketBeat.com, Toast currently has a consensus rating of “Moderate Buy” and a consensus price target of $36.96.

Insider Buying and Selling

In other news, CEO Aman Narang sold 14,365 shares of the stock in a transaction that occurred on Thursday, July 2nd. The stock was sold at an average price of $28.85, for a total transaction of $414,430.25. Following the sale, the chief executive officer directly owned 70,451 shares in the company, valued at approximately $2,032,511.35. This represents a 16.94% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, CFO Elena Gomez sold 11,605 shares of the business’s stock in a transaction that occurred on Thursday, July 2nd. The stock was sold at an average price of $28.85, for a total value of $334,804.25. Following the transaction, the chief financial officer owned 185,150 shares of the company’s stock, valued at approximately $5,341,577.50. This represents a 5.90% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Insiders sold a total of 159,265 shares of company stock valued at $4,278,832 over the last 90 days. 10.03% of the stock is owned by corporate insiders.

Toast Stock Up 2.7%

TOST opened at $30.89 on Tuesday. Toast, Inc. has a 52-week low of $22.26 and a 52-week high of $49.66. The company has a market cap of $15.94 billion, a P/E ratio of 47.52 and a beta of 1.74. The company has a 50 day moving average of $26.05 and a two-hundred day moving average of $28.16.

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