KLP Kapitalforvaltning AS Acquires New Position in Toast, Inc. (NYSE:TOST)

KLP Kapitalforvaltning AS acquired a new position in shares of Toast, Inc. (NYSE:TOST) during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund acquired 135,200 shares of the company’s stock, valued at approximately $4,928,000.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in the stock. Sumitomo Mitsui DS Asset Management Company Ltd grew its holdings in shares of Toast by 0.8% in the 4th quarter. Sumitomo Mitsui DS Asset Management Company Ltd now owns 38,632 shares of the company’s stock worth $1,408,000 after acquiring an additional 301 shares during the period. EverSource Wealth Advisors LLC grew its holdings in Toast by 11.6% in the fourth quarter. EverSource Wealth Advisors LLC now owns 3,435 shares of the company’s stock valued at $125,000 after purchasing an additional 358 shares during the last quarter. Mirador Capital Partners LP increased its position in shares of Toast by 0.9% in the fourth quarter. Mirador Capital Partners LP now owns 41,938 shares of the company’s stock valued at $1,529,000 after buying an additional 360 shares in the last quarter. Blue Trust Inc. raised its stake in shares of Toast by 120.4% during the 4th quarter. Blue Trust Inc. now owns 692 shares of the company’s stock worth $25,000 after buying an additional 378 shares during the last quarter. Finally, Farther Finance Advisors LLC boosted its position in shares of Toast by 19.8% in the 4th quarter. Farther Finance Advisors LLC now owns 2,435 shares of the company’s stock worth $89,000 after buying an additional 402 shares in the last quarter. 82.91% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of equities analysts have issued reports on the stock. BMO Capital Markets lifted their target price on shares of Toast from $46.00 to $48.00 and gave the stock an “outperform” rating in a research report on Thursday, February 20th. Robert W. Baird increased their target price on Toast from $38.00 to $40.00 and gave the company a “neutral” rating in a report on Thursday, February 20th. Wells Fargo & Company boosted their price target on Toast from $25.00 to $30.00 and gave the stock an “underweight” rating in a report on Thursday, January 16th. Royal Bank of Canada upped their price objective on Toast from $40.00 to $45.00 and gave the company a “sector perform” rating in a research report on Thursday, February 20th. Finally, Needham & Company LLC reiterated a “buy” rating and set a $50.00 price objective on shares of Toast in a research report on Thursday, February 20th. One investment analyst has rated the stock with a sell rating, twelve have given a hold rating and nine have assigned a buy rating to the company. According to data from MarketBeat.com, Toast currently has a consensus rating of “Hold” and a consensus target price of $40.48.

Insider Activity at Toast

In related news, Director Christopher P. Comparato sold 70,000 shares of the stock in a transaction on Thursday, March 20th. The stock was sold at an average price of $35.71, for a total value of $2,499,700.00. Following the completion of the sale, the director now directly owns 164,796 shares in the company, valued at approximately $5,884,865.16. This represents a 29.81 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Deval L. Patrick sold 34,222 shares of the firm’s stock in a transaction dated Thursday, March 13th. The shares were sold at an average price of $33.01, for a total value of $1,129,668.22. Following the completion of the transaction, the director now directly 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 disclosure for this sale can be found here. Over the last quarter, insiders have sold 270,770 shares of company stock worth $9,409,211. Company insiders own 13.32% of the company’s stock.

Toast Trading Up 0.6 %

Shares of TOST opened at $36.38 on Wednesday. Toast, Inc. has a twelve month low of $21.32 and a twelve month high of $44.12. The firm has a market capitalization of $17.97 billion, a P/E ratio of -3,634.37, a price-to-earnings-growth ratio of 2.16 and a beta of 1.99. The stock’s fifty day simple moving average is $37.84 and its 200 day simple moving average is $35.23.

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%. Sell-side analysts predict that Toast, Inc. will post 0.39 earnings per share for the current 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.