Norges Bank Purchases Shares of 5,648,498 Toast, Inc. (NYSE:TOST)

Norges Bank acquired a new position in Toast, Inc. (NYSE:TOST - Free Report) during the fourth quarter, according to the company in its most recent disclosure with the SEC. The firm acquired 5,648,498 shares of the company's stock, valued at approximately $205,888,000. Norges Bank owned 1.20% of Toast as of its most recent SEC filing.

Several other hedge funds have also recently bought and sold shares of TOST. Geode Capital Management LLC raised its position in shares of Toast by 2.3% during the 3rd quarter. Geode Capital Management LLC now owns 6,865,934 shares of the company's stock worth $193,992,000 after buying an additional 155,212 shares in the last quarter. MML Investors Services LLC raised its stake in shares of Toast by 40.6% in the 3rd quarter. MML Investors Services LLC now owns 228,313 shares of the company's stock worth $6,464,000 after buying an additional 65,957 shares in the last quarter. Charles Schwab Investment Management Inc. lifted its holdings in shares of Toast by 5.6% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 2,938,487 shares of the company's stock valued at $107,108,000 after buying an additional 155,446 shares during the period. Zacks Investment Management boosted its stake in Toast by 14.2% during the third quarter. Zacks Investment Management now owns 338,017 shares of the company's stock valued at $9,569,000 after buying an additional 42,100 shares in the last quarter. Finally, Jupiter Asset Management Ltd. grew its holdings in Toast by 134.3% during the fourth quarter. Jupiter Asset Management Ltd. now owns 392,853 shares of the company's stock worth $14,319,000 after acquiring an additional 225,215 shares during the period. 82.91% of the stock is currently owned by institutional investors.

Remove Ads

Insider Activity

In other news, Director Christopher P. Comparato sold 70,000 shares of the firm's stock in a transaction dated 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 sale, the director now directly owns 164,796 shares of the company's stock, valued at approximately $5,884,865.16. This trade represents a 29.81 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, CFO Elena Gomez sold 2,052 shares of the business's stock in a transaction dated Tuesday, February 4th. The stock was sold at an average price of $39.63, for a total value of $81,320.76. Following the transaction, the chief financial officer now directly owns 160,498 shares of the company's stock, valued at $6,360,535.74. This represents a 1.26 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders have sold 270,770 shares of company stock valued at $9,409,211. Insiders own 13.32% of the company's stock.

Analyst Ratings Changes

TOST has been the subject of several research reports. Morgan Stanley raised their price objective on shares of Toast from $46.00 to $50.00 and gave the company an "overweight" rating in a research report on Thursday, February 20th. Wells Fargo & Company lifted 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. Canaccord Genuity Group increased their price objective on Toast from $43.00 to $48.00 and gave the company a "buy" rating in a research report on Thursday, February 20th. Keefe, Bruyette & Woods lifted their target price on Toast from $40.00 to $42.00 and gave the stock a "market perform" rating in a report on Thursday, February 20th. Finally, The Goldman Sachs Group decreased their price target on Toast from $43.00 to $38.00 and set a "neutral" rating for the company in a research report on Wednesday. One equities research analyst has rated the stock with a sell rating, twelve have given a hold rating and nine have issued a buy rating to the stock. Based on data from MarketBeat, the stock currently has a consensus rating of "Hold" and a consensus target price of $40.38.

Toast Trading Down 6.4 %

NYSE TOST traded down $2.08 during trading on Friday, reaching $30.58. The company's stock had a trading volume of 10,413,952 shares, compared to its average volume of 6,766,117. The stock has a market capitalization of $15.10 billion, a PE ratio of -3,054.55, a PEG ratio of 2.16 and a beta of 1.99. Toast, Inc. has a 1-year low of $21.32 and a 1-year high of $44.12. The business has a 50-day moving average price of $37.16 and a 200-day moving average price of $35.67.

Toast (NYSE:TOST - Get Free Report) last released its quarterly earnings data on Wednesday, February 19th. The company reported $0.05 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.06 by ($0.01). The business had revenue of $1.34 billion during the quarter, compared to analyst estimates of $1.32 billion. Toast had a net margin of 0.40% and a return on equity of 1.54%. As a group, analysts expect that Toast, Inc. will post 0.39 earnings per share for the current year.

Toast Profile

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.