BI Asset Management Fondsmaeglerselskab A S Sells 25,901 Shares of Toast, Inc. $TOST

BI Asset Management Fondsmaeglerselskab A S decreased its position in Toast, Inc. (NYSE:TOST) by 81.7% in the 1st quarter, HoldingsChannel.com reports. The fund owned 5,802 shares of the company’s stock after selling 25,901 shares during the quarter. BI Asset Management Fondsmaeglerselskab A S’s holdings in Toast were worth $154,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds also recently made changes to their positions in TOST. NewEdge Advisors LLC grew its position in Toast by 1,555.5% in the 1st quarter. NewEdge Advisors LLC now owns 17,432 shares of the company’s stock worth $578,000 after purchasing an additional 16,379 shares in the last quarter. Cerity Partners LLC lifted its position in shares of Toast by 24.0% during the 2nd quarter. Cerity Partners LLC now owns 81,574 shares of the company’s stock worth $3,613,000 after buying an additional 15,774 shares in the last quarter. State Street Corp lifted its position in shares of Toast by 2.7% during the 2nd quarter. State Street Corp now owns 9,212,889 shares of the company’s stock worth $408,039,000 after buying an additional 245,276 shares in the last quarter. Frontier Capital Management Co. LLC purchased a new position in shares of Toast in the 2nd quarter worth approximately $4,479,000. Finally, Sei Investments Co. boosted its stake in shares of Toast by 24.6% in the 2nd quarter. Sei Investments Co. now owns 1,030,007 shares of the company’s stock worth $45,619,000 after buying an additional 203,404 shares during the last quarter. Hedge funds and other institutional investors own 82.91% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research firms have recently issued reports on TOST. Weiss Ratings reaffirmed a “hold (c)” rating on shares of Toast in a report on Wednesday, May 20th. Mizuho dropped their price target on Toast from $45.00 to $38.00 and set an “outperform” rating on the stock in a report on Tuesday, May 12th. Wall Street Zen raised Toast from a “hold” rating to a “buy” rating in a research report on Saturday, June 13th. Piper Sandler initiated coverage on Toast in a research note on Wednesday, June 10th. They issued an “overweight” rating and a $32.00 price objective for the company. Finally, Loop Capital initiated coverage on Toast in a research note on Tuesday, March 31st. They issued a “hold” rating and a $26.00 price objective for the company. Two equities research analysts have rated the stock with a Strong Buy rating, seventeen have assigned a Buy rating and eight have issued a Hold rating to the company. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $37.62.

Toast Stock Down 1.0%

TOST opened at $25.77 on Friday. The stock has a market cap of $13.30 billion, a price-to-earnings ratio of 39.65 and a beta of 1.76. Toast, Inc. has a twelve month low of $22.26 and a twelve month high of $49.66. The company’s 50-day moving average price is $25.71 and its two-hundred day moving average price is $28.95.

Insider Activity at Toast

In related news, CRO Jonathan Vassil sold 6,438 shares of Toast stock in a transaction that occurred on Thursday, April 2nd. The shares were sold at an average price of $26.19, for a total value of $168,611.22. Following the sale, the executive owned 146,618 shares of the company’s stock, valued at approximately $3,839,925.42. The trade was a 4.21% decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, CFO Elena Gomez sold 8,929 shares of Toast stock in a transaction that occurred on Thursday, April 2nd. The stock was sold at an average price of $26.19, for a total transaction of $233,850.51. Following the completion of the sale, the chief financial officer directly owned 173,064 shares in the company, valued at $4,532,546.16. This trade represents a 4.91% decrease in their position. The SEC filing for this sale provides additional information. Insiders have sold a total of 147,783 shares of company stock worth $3,838,037 over the last 90 days. Corporate insiders own 10.03% of the company’s stock.

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.