DnB Asset Management AS Acquires 10,989 Shares of Toast, Inc. (NYSE:TOST)

DnB Asset Management AS boosted its holdings in Toast, Inc. (NYSE:TOST - Free Report) by 19.3% during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 67,807 shares of the company's stock after acquiring an additional 10,989 shares during the quarter. DnB Asset Management AS's holdings in Toast were worth $2,472,000 at the end of the most recent quarter.

Several other hedge funds have also recently added to or reduced their stakes in the business. Blue Trust Inc. lifted its stake in shares of Toast by 120.4% in the 4th quarter. Blue Trust Inc. now owns 692 shares of the company's stock worth $25,000 after acquiring an additional 378 shares during the period. Piscataqua Savings Bank bought a new position in Toast during the 4th quarter valued at $26,000. Stonebridge Financial Group LLC acquired a new position in shares of Toast during the 4th quarter valued at $34,000. SBI Securities Co. Ltd. bought a new stake in shares of Toast in the 4th quarter worth $35,000. Finally, Wingate Wealth Advisors Inc. acquired a new stake in shares of Toast in the fourth quarter valued at $40,000. Institutional investors own 82.91% of the company's stock.

Wall Street Analyst Weigh In

A number of research analysts recently issued reports on the company. UBS Group lifted their target price on Toast from $41.00 to $47.00 and gave the stock a "buy" rating in a report on Thursday, February 20th. Canaccord Genuity Group lifted their price objective on shares of Toast from $43.00 to $48.00 and gave the stock a "buy" rating in a research note on Thursday, February 20th. JPMorgan Chase & Co. increased their target price on shares of Toast from $36.00 to $42.00 and gave the company a "neutral" rating in a research note on Thursday, February 20th. Needham & Company LLC restated a "buy" rating and set a $50.00 target price on shares of Toast in a report on Thursday, February 20th. Finally, 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. One analyst has rated the stock with a sell rating, twelve have issued a hold rating and nine have given a buy rating to the company. According to MarketBeat, the company presently has a consensus rating of "Hold" and a consensus price target of $40.38.

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Toast Price Performance

Toast stock traded down $2.08 during trading hours on Friday, hitting $30.58. The company had a trading volume of 10,413,952 shares, compared to its average volume of 6,769,749. Toast, Inc. has a fifty-two week low of $21.32 and a fifty-two week high of $44.12. The firm has a market capitalization of $15.10 billion, a P/E ratio of -3,054.55, a price-to-earnings-growth ratio of 2.16 and a beta of 2.00. The firm's fifty day moving average is $37.16 and its 200-day moving average is $35.79.

Toast (NYSE:TOST - Get Free Report) last posted its quarterly 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). The company had revenue of $1.34 billion during the quarter, compared to analyst estimates of $1.32 billion. Toast had a return on equity of 1.54% and a net margin of 0.40%. Analysts anticipate that Toast, Inc. will post 0.39 earnings per share for the current year.

Insider Activity

In related news, General Counsel Brian R. Elworthy sold 653 shares of Toast stock in a transaction on Tuesday, February 4th. The shares were sold at an average price of $39.63, for a total value of $25,878.39. Following the completion of the sale, the general counsel now owns 209,206 shares of the company's stock, valued at approximately $8,290,833.78. The trade was a 0.31 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, 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 transaction of $2,499,700.00. Following the transaction, the director now directly owns 164,796 shares in the company, valued at $5,884,865.16. The trade was a 29.81 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 270,770 shares of company stock worth $9,409,211 in the last three months. 13.32% of the stock is owned by insiders.

Toast Company 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.