DnB Asset Management AS Boosts Stock Position in Toast, Inc. (NYSE:TOST)

DnB Asset Management AS raised its holdings in Toast, Inc. (NYSE:TOST) by 19.3% during the fourth quarter, HoldingsChannel.com reports. The firm 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 and hedge funds also recently made changes to their positions in TOST. Bank of Montreal Can raised its holdings in Toast by 6.5% in the third quarter. Bank of Montreal Can now owns 65,607 shares of the company’s stock valued at $1,837,000 after acquiring an additional 3,996 shares in the last quarter. D.A. Davidson & CO. raised its stake in shares of Toast by 1.9% in the 3rd quarter. D.A. Davidson & CO. now owns 22,100 shares of the company’s stock valued at $626,000 after purchasing an additional 409 shares in the last quarter. Townsquare Capital LLC lifted its position in shares of Toast by 13.5% during the third quarter. Townsquare Capital LLC now owns 9,217 shares of the company’s stock worth $261,000 after purchasing an additional 1,095 shares during the last quarter. Zurcher Kantonalbank Zurich Cantonalbank lifted its position in shares of Toast by 32.2% during the third quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 117,812 shares of the company’s stock worth $3,335,000 after purchasing an additional 28,663 shares during the last quarter. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC grew its stake in Toast by 17.0% in the third quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 1,504,641 shares of the company’s stock worth $42,596,000 after purchasing an additional 218,313 shares in the last quarter. 82.91% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

TOST has been the topic of a number of research analyst reports. DA Davidson reaffirmed a “neutral” rating and set a $38.00 target price (down previously from $44.00) on shares of Toast in a report on Thursday, December 5th. BMO Capital Markets raised their price objective on Toast from $46.00 to $48.00 and gave the stock an “outperform” rating in a research note on Thursday, February 20th. Morgan Stanley boosted their target price on shares of Toast from $46.00 to $50.00 and gave the company an “overweight” rating in a research note on Thursday, February 20th. Wells Fargo & Company raised their price target on shares of Toast from $25.00 to $30.00 and gave the stock an “underweight” rating in a research report on Thursday, January 16th. Finally, JPMorgan Chase & Co. increased their price objective on shares of Toast from $36.00 to $42.00 and gave the stock a “neutral” rating in a research note on Thursday, February 20th. One equities research analyst has rated the stock with a sell rating, twelve have assigned a hold rating and nine have issued a buy rating to the company’s stock. According to MarketBeat, Toast currently has a consensus rating of “Hold” and an average target price of $40.48.

Insiders Place Their Bets

In other news, President Stephen Fredette sold 1,068 shares of the stock in a transaction that occurred on Tuesday, February 4th. The shares were sold at an average price of $39.63, for a total value of $42,324.84. Following the completion of the sale, the president now directly owns 1,644,656 shares of the company’s stock, valued at $65,177,717.28. This represents a 0.06 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, CFO Elena Gomez sold 2,052 shares of the business’s stock in a transaction that occurred on Tuesday, February 4th. The shares were sold at an average price of $39.63, for a total transaction of $81,320.76. Following the transaction, the chief financial officer now directly owns 160,498 shares in the company, valued at $6,360,535.74. The trade was a 1.26 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 270,770 shares of company stock worth $9,409,211. Corporate insiders own 13.32% of the company’s stock.

Toast Trading Up 3.2 %

NYSE:TOST opened at $34.25 on Wednesday. The company has a 50-day moving average of $37.63 and a 200-day moving average of $35.60. Toast, Inc. has a twelve month low of $21.32 and a twelve month high of $44.12. The firm has a market cap 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 issued its earnings results on Wednesday, February 19th. The company reported $0.05 earnings per share for the quarter, missing analysts’ consensus estimates of $0.06 by ($0.01). Toast had a return on equity of 1.54% and a net margin of 0.40%. The business had revenue of $1.34 billion for the quarter, compared to the consensus estimate of $1.32 billion. On average, research analysts forecast 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.