Swiss National Bank Buys 102,600 Shares of Toast, Inc. $TOST

Swiss National Bank lifted its stake in Toast, Inc. (NYSE:TOST) by 8.2% during the 1st quarter, according to its most recent disclosure with the SEC. The institutional investor owned 1,360,400 shares of the company’s stock after buying an additional 102,600 shares during the quarter. Swiss National Bank owned approximately 0.26% of Toast worth $36,064,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently modified their holdings of TOST. Wynn Capital LLC increased its holdings in Toast by 2.1% in the 4th quarter. Wynn Capital LLC now owns 13,755 shares of the company’s stock valued at $488,000 after acquiring an additional 280 shares during the last quarter. BOKF NA boosted its holdings in shares of Toast by 4.5% during the 3rd quarter. BOKF NA now owns 8,023 shares of the company’s stock valued at $293,000 after purchasing an additional 345 shares during the last quarter. Fifth Third Wealth Advisors LLC grew its position in shares of Toast by 0.5% during the first quarter. Fifth Third Wealth Advisors LLC now owns 67,909 shares of the company’s stock valued at $1,800,000 after purchasing an additional 358 shares in the last quarter. The Manufacturers Life Insurance Company grew its position in shares of Toast by 1.7% during the second quarter. The Manufacturers Life Insurance Company now owns 22,857 shares of the company’s stock valued at $1,012,000 after purchasing an additional 380 shares in the last quarter. Finally, Seven Mile Advisory increased its holdings in shares of Toast by 3.1% in the third quarter. Seven Mile Advisory now owns 12,689 shares of the company’s stock worth $463,000 after purchasing an additional 381 shares during the last quarter. Institutional investors own 82.91% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities analysts recently commented on the company. Zacks Research lowered Toast from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, July 7th. DA Davidson reduced their price objective on Toast from $33.00 to $28.00 and set a “neutral” rating on the stock in a research note on Tuesday, May 12th. Mizuho decreased their price objective on Toast from $45.00 to $38.00 and set an “outperform” rating on the stock in a report on Tuesday, May 12th. UBS Group lowered their target price on Toast from $40.00 to $34.00 and set a “buy” rating for the company in a research report on Friday, May 8th. Finally, Wall Street Zen lowered shares of Toast from a “buy” rating to a “hold” rating in a report on Saturday, July 4th. Two analysts have rated the stock with a Strong Buy rating, sixteen have given a Buy rating and eight have issued a Hold rating to the company. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average target price of $36.96.

Insider Buying and Selling

In related news, General Counsel Brian R. Elworthy sold 108,000 shares of Toast stock in a transaction dated 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 owned 189,642 shares in the company, valued at $4,909,831.38. This trade represents a 36.29% decrease in their position. The sale was disclosed in a filing with the SEC, which is available through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CFO Elena Gomez sold 11,605 shares of the business’s stock in a transaction dated Thursday, July 2nd. The shares were sold at an average price of $28.85, for a total transaction of $334,804.25. Following the completion of the sale, the chief financial officer directly owned 185,150 shares of the company’s stock, valued at approximately $5,341,577.50. This trade represents a 5.90% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Insiders have sold a total of 159,265 shares of company stock worth $4,278,832 over the last ninety days. 10.03% of the stock is owned by insiders.

Toast Stock Performance

Shares of TOST stock opened at $29.22 on Thursday. Toast, Inc. has a 52-week low of $22.26 and a 52-week high of $49.66. The firm has a market capitalization of $15.08 billion, a P/E ratio of 44.95 and a beta of 1.74. The stock has a 50 day moving average price of $26.33 and a 200 day moving average price of $28.08.

Toast (NYSE:TOST) last announced its quarterly earnings data on Thursday, May 7th. The company reported $0.20 EPS for the quarter, missing the consensus estimate of $0.28 by ($0.08). Toast had a net margin of 6.39% and a return on equity of 20.86%. The business had revenue of $1.63 billion during the quarter, compared to the consensus estimate of $1.63 billion. During the same period last year, the company earned $0.09 EPS. The business’s revenue was up 21.9% compared to the same quarter last year. As a group, sell-side analysts forecast that Toast, Inc. will post 0.97 EPS for the current year.

Toast 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.