Toast, Inc. (NYSE:TOST) Shares Acquired by DnB Asset Management AS

DnB Asset Management AS boosted its position in Toast, Inc. (NYSE:TOST) by 19.3% during the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 67,807 shares of the company’s stock after buying an additional 10,989 shares during the period. DnB Asset Management AS’s holdings in Toast were worth $2,472,000 as of its most recent SEC filing.

Several other institutional investors also recently bought and sold shares of the company. Blue Trust Inc. boosted its holdings in shares of Toast by 120.4% in the fourth quarter. Blue Trust Inc. now owns 692 shares of the company’s stock valued at $25,000 after acquiring an additional 378 shares in the last quarter. Piscataqua Savings Bank acquired a new stake in Toast in the fourth quarter valued at about $26,000. Stonebridge Financial Group LLC purchased a new stake in Toast in the 4th quarter valued at approximately $34,000. SBI Securities Co. Ltd. purchased a new stake in Toast in the 4th quarter valued at approximately $35,000. Finally, Wingate Wealth Advisors Inc. acquired a new position in Toast during the 4th quarter worth approximately $40,000. 82.91% of the stock is owned by institutional investors and hedge funds.

Toast Price Performance

TOST opened at $34.25 on Wednesday. The business has a 50-day moving average of $37.63 and a two-hundred day moving average of $35.60. Toast, Inc. has a 12 month low of $21.32 and a 12 month high of $44.12. The stock has a market capitalization of $16.92 billion, a price-to-earnings ratio of -3,421.28, a price-to-earnings-growth ratio of 2.16 and a beta of 1.99.

Toast (NYSE:TOST) last released its quarterly earnings data on Wednesday, February 19th. The company reported $0.05 EPS for the quarter, missing analysts’ consensus estimates of $0.06 by ($0.01). The firm had revenue of $1.34 billion during the quarter, compared to analysts’ expectations of $1.32 billion. Toast had a return on equity of 1.54% and a net margin of 0.40%. Equities research analysts anticipate that Toast, Inc. will post 0.39 earnings per share for the current year.

Analyst Ratings Changes

Several research firms have recently commented on TOST. Needham & Company LLC reissued a “buy” rating and issued a $50.00 price target on shares of Toast in a report on Thursday, February 20th. UBS Group boosted their target price on shares of Toast from $41.00 to $47.00 and gave the stock a “buy” rating in a research report on Thursday, February 20th. Robert W. Baird increased their price target on shares of Toast from $38.00 to $40.00 and gave the company a “neutral” rating in a report on Thursday, February 20th. BNP Paribas set a $37.00 price objective on shares of Toast and gave the company a “neutral” rating in a research note on Wednesday, February 19th. Finally, The Goldman Sachs Group set a $40.00 target price on shares of Toast and gave the company a “neutral” rating in a report on Wednesday, February 19th. One equities research analyst has rated the stock with a sell rating, twelve have assigned a hold rating and nine have given a buy rating to the stock. According to data from MarketBeat.com, the company has a consensus rating of “Hold” and an average price target of $40.48.

Insider Buying and Selling at Toast

In other news, Director Deval L. Patrick sold 34,222 shares of Toast stock in a transaction that occurred on Thursday, March 13th. The shares were sold at an average price of $33.01, for a total transaction of $1,129,668.22. Following the sale, the director now owns 13,260 shares in the company, valued at $437,712.60. This trade represents a 72.07 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, President Stephen Fredette sold 1,068 shares of the company’s stock in a transaction on Tuesday, February 4th. The shares were sold at an average price of $39.63, for a total transaction of $42,324.84. Following the completion of the transaction, the president now owns 1,644,656 shares of the company’s stock, valued at $65,177,717.28. This trade represents a 0.06 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 270,770 shares of company stock valued at $9,409,211 over the last three months. 13.32% of the stock is owned by company insiders.

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.