Handelsinvest Investeringsforvaltning Lowers Holdings in Toast, Inc. (NYSE:TOST)

Handelsinvest Investeringsforvaltning lowered its stake in shares of Toast, Inc. (NYSE:TOST) by 34.2% in the first quarter, according to its most recent 13F filing with the SEC. The fund owned 10,235 shares of the company’s stock after selling 5,314 shares during the period. Handelsinvest Investeringsforvaltning’s holdings in Toast were worth $255,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also modified their holdings of the company. Park Avenue Securities LLC boosted its stake in Toast by 1.0% during the 1st quarter. Park Avenue Securities LLC now owns 43,357 shares of the company’s stock worth $1,080,000 after purchasing an additional 436 shares during the last quarter. Envestnet Portfolio Solutions Inc. raised its holdings in Toast by 5.9% in the 4th quarter. Envestnet Portfolio Solutions Inc. now owns 13,985 shares of the company’s stock valued at $255,000 after acquiring an additional 774 shares during the last quarter. Treasurer of the State of North Carolina boosted its holdings in shares of Toast by 0.5% during the 3rd quarter. Treasurer of the State of North Carolina now owns 155,598 shares of the company’s stock worth $2,914,000 after purchasing an additional 790 shares during the last quarter. Orion Capital Management LLC raised its stake in Toast by 22.5% during the fourth quarter. Orion Capital Management LLC now owns 4,350 shares of the company’s stock worth $79,000 after purchasing an additional 800 shares during the period. Finally, M&T Bank Corp raised its position in shares of Toast by 8.0% during the 4th quarter. M&T Bank Corp now owns 11,217 shares of the company’s stock valued at $205,000 after buying an additional 829 shares during the period. Institutional investors and hedge funds own 82.91% of the company’s stock.

Wall Street Analyst Weigh In

Several research analysts recently weighed in on TOST shares. Royal Bank of Canada increased their price objective on Toast from $23.00 to $27.00 and gave the stock a “sector perform” rating in a research report on Wednesday, May 8th. Wells Fargo & Company increased their target price on Toast from $17.00 to $19.00 and gave the stock an “underweight” rating in a research note on Wednesday, May 8th. UBS Group increased their price target on shares of Toast from $22.00 to $31.00 and gave the stock a “buy” rating in a research report on Thursday, March 28th. Needham & Company LLC reiterated a “buy” rating and issued a $30.00 target price on shares of Toast in a report on Thursday, May 30th. Finally, Wedbush reaffirmed an “outperform” rating and issued a $30.00 price target on shares of Toast in a research report on Thursday, May 30th. One investment analyst has rated the stock with a sell rating, ten have given a hold rating and ten have issued a buy rating to the stock. According to data from MarketBeat, the company has a consensus rating of “Hold” and an average target price of $26.14.

Insider Buying and Selling at Toast

In other news, CFO Elena Gomez sold 12,500 shares of Toast stock in a transaction dated Wednesday, May 8th. The shares were sold at an average price of $26.39, for a total transaction of $329,875.00. Following the completion of the sale, the chief financial officer now directly owns 176,980 shares in the company, valued at $4,670,502.20. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. In related news, CRO Jonathan Vassil sold 50,000 shares of the business’s stock in a transaction that occurred on Monday, April 15th. The shares were sold at an average price of $22.90, for a total value of $1,145,000.00. Following the completion of the sale, the executive now directly owns 25,422 shares in the company, valued at $582,163.80. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, CFO Elena Gomez sold 12,500 shares of the business’s stock in a transaction that occurred on Wednesday, May 8th. The shares were sold at an average price of $26.39, for a total transaction of $329,875.00. Following the completion of the sale, the chief financial officer now owns 176,980 shares of the company’s stock, valued at $4,670,502.20. The disclosure for this sale can be found here. In the last three months, insiders sold 197,449 shares of company stock worth $4,817,383. 13.32% of the stock is owned by corporate insiders.

Toast Price Performance

Shares of TOST stock traded down $0.04 during mid-day trading on Wednesday, hitting $25.95. The stock had a trading volume of 303,704 shares, compared to its average volume of 8,058,729. Toast, Inc. has a fifty-two week low of $13.77 and a fifty-two week high of $27.90. The firm has a market cap of $11.76 billion, a PE ratio of -51.96 and a beta of 1.76. The company’s 50-day simple moving average is $24.63 and its 200-day simple moving average is $22.20.

Toast (NYSE:TOST) last announced its quarterly earnings data on Tuesday, May 7th. The company reported ($0.15) EPS for the quarter, meeting the consensus estimate of ($0.15). Toast had a negative net margin of 6.02% and a negative return on equity of 21.45%. The firm had revenue of $1.08 billion during the quarter, compared to analysts’ expectations of $1.04 billion. During the same quarter last year, the business earned ($0.16) earnings per share. The business’s revenue for the quarter was up 31.3% compared to the same quarter last year. On average, analysts expect that Toast, Inc. will post -0.14 EPS for the current year.

Toast Company 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.