Mediolanum International Funds Ltd Takes Position in Toast, Inc. (NYSE:TOST)

Mediolanum International Funds Ltd bought a new stake in Toast, Inc. (NYSE:TOST) in the 4th quarter, Holdings Channel.com reports. The fund bought 37,844 shares of the company’s stock, valued at approximately $1,392,000.

Several other hedge funds and other institutional investors also recently made changes to their positions in the company. Highland Capital Management LLC acquired a new stake in shares of Toast in the 4th quarter valued at $1,248,000. Swedbank AB bought a new position in shares of Toast in the 4th quarter worth $303,000. Forsta AP Fonden boosted its position in shares of Toast by 191.4% in the 4th quarter. Forsta AP Fonden now owns 234,300 shares of the company’s stock worth $8,540,000 after purchasing an additional 153,900 shares during the last quarter. Smith Group Asset Management LLC bought a new position in shares of Toast in the 4th quarter worth $209,000. Finally, Robeco Institutional Asset Management B.V. boosted its position in shares of Toast by 59.5% in the 4th quarter. Robeco Institutional Asset Management B.V. now owns 383,275 shares of the company’s stock worth $13,970,000 after purchasing an additional 143,042 shares during the last quarter. 82.91% of the stock is owned by institutional investors and hedge funds.

Insiders Place Their Bets

In other Toast news, CRO Jonathan Vassil sold 100,000 shares of the business’s stock in a transaction that occurred on Friday, November 8th. The stock was sold at an average price of $36.55, for a total transaction of $3,655,000.00. Following the transaction, the executive now owns 39,834 shares of the company’s stock, valued at $1,455,932.70. The trade was a 71.51 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director David Yuan sold 189,785 shares of the business’s stock in a transaction that occurred on Monday, November 25th. The stock was sold at an average price of $43.01, for a total value of $8,162,652.85. Following the transaction, the director now directly owns 198,829 shares in the company, valued at approximately $8,551,635.29. This trade represents a 48.84 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 557,670 shares of company stock valued at $21,670,707 over the last 90 days. 13.32% of the stock is currently owned by insiders.

Analyst Upgrades and Downgrades

Several research analysts have recently issued reports on the company. BNP Paribas lowered Toast from an “outperform” rating to a “neutral” rating and set a $37.00 price target on the stock. in a research report on Wednesday, November 20th. Wells Fargo & Company raised their price target on Toast from $25.00 to $30.00 and gave the stock an “underweight” rating in a research report on Thursday, January 16th. BMO Capital Markets assumed coverage on Toast in a research report on Monday, January 6th. They issued an “outperform” rating and a $45.00 price target on the stock. Wedbush lifted their target price on Toast from $35.00 to $45.00 and gave the stock an “outperform” rating in a report on Friday, November 8th. Finally, JPMorgan Chase & Co. lifted their target price on Toast from $28.00 to $36.00 and gave the stock a “neutral” rating in a report on Friday, November 8th. One research analyst has rated the stock with a sell rating, twelve have issued a hold rating and eleven have given a buy rating to the company. Based on data from MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus target price of $35.74.

Toast Stock Performance

NYSE:TOST opened at $41.06 on Monday. The stock’s 50-day simple moving average is $38.63 and its 200 day simple moving average is $32.00. The company has a market cap of $19.34 billion, a P/E ratio of -315.85, a P/E/G ratio of 2.14 and a beta of 1.97. Toast, Inc. has a 52-week low of $17.65 and a 52-week high of $44.12.

Toast (NYSE:TOST) last released its earnings results on Thursday, November 7th. The company reported $0.07 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.01 by $0.06. The business had revenue of $1.31 billion for the quarter, compared to the consensus estimate of $1.29 billion. Toast had a negative return on equity of 3.84% and a negative net margin of 1.05%. During the same quarter in the previous year, the business earned ($0.09) earnings per share. As a group, equities analysts predict that Toast, Inc. will post 0.03 earnings per share for the current fiscal year.

About Toast

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.