Mediolanum International Funds Ltd Has $6.98 Million Stock Holdings in Toast, Inc. $TOST

Mediolanum International Funds Ltd trimmed its stake in shares of Toast, Inc. (NYSE:TOST) by 60.5% during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 187,865 shares of the company’s stock after selling 288,278 shares during the quarter. Mediolanum International Funds Ltd’s holdings in Toast were worth $6,975,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds have also modified their holdings of the company. Quent Capital LLC bought a new position in shares of Toast during the 3rd quarter worth approximately $27,000. RiverPark Advisors LLC acquired a new position in Toast during the second quarter worth $30,000. Alpine Bank Wealth Management bought a new position in shares of Toast during the third quarter valued at $30,000. Ameritas Advisory Services LLC bought a new position in shares of Toast during the second quarter valued at $31,000. Finally, REAP Financial Group LLC boosted its stake in shares of Toast by 173.3% in the 2nd quarter. REAP Financial Group LLC now owns 798 shares of the company’s stock valued at $35,000 after purchasing an additional 506 shares in the last quarter. 82.91% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

TOST has been the subject of a number of recent analyst reports. The Goldman Sachs Group cut their price target on shares of Toast from $51.00 to $41.00 and set a “neutral” rating for the company in a report on Monday, October 13th. DA Davidson dropped their price objective on shares of Toast from $42.00 to $36.00 and set a “neutral” rating for the company in a report on Monday. Citigroup raised Toast to a “strong-buy” rating in a report on Thursday, October 23rd. Wells Fargo & Company raised Toast to a “strong-buy” rating in a report on Wednesday, October 22nd. Finally, Robert W. Baird reduced their price objective on Toast from $48.00 to $36.00 and set a “neutral” rating on the stock in a research note on Monday, October 6th. Two investment analysts have rated the stock with a Strong Buy rating, thirteen have assigned a Buy rating and eight have given a Hold rating to the company’s stock. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $45.55.

Insider Activity

In other Toast news, General Counsel Brian R. Elworthy sold 3,303 shares of the company’s stock in a transaction dated Monday, January 5th. The shares were sold at an average price of $34.38, for a total transaction of $113,557.14. Following the transaction, the general counsel directly owned 235,757 shares in the company, valued at approximately $8,105,325.66. This represents a 1.38% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, CRO Jonathan Vassil sold 4,787 shares of the firm’s stock in a transaction dated Monday, January 5th. The shares were sold at an average price of $34.38, for a total transaction of $164,577.06. Following the completion of the transaction, the executive directly owned 79,802 shares in the company, valued at $2,743,592.76. This trade represents a 5.66% decrease in their position. The disclosure for this sale is available in the SEC filing. In the last three months, insiders sold 94,609 shares of company stock worth $3,350,915. Corporate insiders own 12.14% of the company’s stock.

Toast Stock Performance

NYSE:TOST opened at $31.54 on Tuesday. The company has a market cap of $16.24 billion, a price-to-earnings ratio of 73.34 and a beta of 1.93. The stock’s fifty day moving average price is $34.71 and its two-hundred day moving average price is $38.40. Toast, Inc. has a 52-week low of $28.12 and a 52-week high of $49.66.

Toast (NYSE:TOST) last released its earnings results on Tuesday, November 4th. The company reported $0.16 EPS for the quarter, missing the consensus estimate of $0.24 by ($0.08). Toast had a net margin of 4.68% and a return on equity of 15.77%. The firm had revenue of $1.63 billion during the quarter, compared to analyst estimates of $1.58 billion. During the same period last year, the business posted $0.07 earnings per share. The firm’s quarterly revenue was up 25.1% on a year-over-year basis. On average, equities analysts predict that Toast, Inc. will post 0.39 EPS for the current fiscal 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.