BI Asset Management Fondsmaeglerselskab A S Acquires 97,453 Shares of Toast, Inc. (NYSE:TOST)

BI Asset Management Fondsmaeglerselskab A S raised its stake in shares of Toast, Inc. (NYSE:TOST) by 1,527.7% during the 4th quarter, Holdings Channel reports. The fund owned 103,832 shares of the company’s stock after purchasing an additional 97,453 shares during the period. BI Asset Management Fondsmaeglerselskab A S’s holdings in Toast were worth $3,785,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also made changes to their positions in the stock. Arrowstreet Capital Limited Partnership purchased a new position in Toast in the fourth quarter valued at about $282,010,000. Norges Bank bought a new position in shares of Toast during the 4th quarter worth approximately $205,888,000. FMR LLC lifted its position in Toast by 22.1% during the fourth quarter. FMR LLC now owns 29,853,639 shares of the company’s stock valued at $1,088,165,000 after acquiring an additional 5,403,896 shares during the last quarter. Vanguard Group Inc. grew its holdings in Toast by 10.8% in the fourth quarter. Vanguard Group Inc. now owns 42,474,232 shares of the company’s stock worth $1,548,186,000 after purchasing an additional 4,147,430 shares during the last quarter. Finally, Renaissance Technologies LLC increased its position in shares of Toast by 255.0% during the fourth quarter. Renaissance Technologies LLC now owns 3,504,212 shares of the company’s stock worth $127,729,000 after purchasing an additional 2,517,012 shares in the last quarter. 82.91% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling

In related news, President Stephen Fredette sold 1,068 shares of the stock in a transaction that occurred on Tuesday, February 4th. The stock was 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 owns 1,644,656 shares of the company’s stock, valued at approximately $65,177,717.28. This trade 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, General Counsel Brian R. Elworthy sold 653 shares of Toast stock in a transaction that occurred on Tuesday, February 4th. The stock was sold at an average price of $39.63, for a total value of $25,878.39. Following the transaction, the general counsel now owns 209,206 shares in the company, valued at approximately $8,290,833.78. The trade was a 0.31 % decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 340,770 shares of company stock worth $11,803,911. 13.32% of the stock is owned by corporate insiders.

Toast Stock Up 0.0 %

Shares of NYSE TOST opened at $34.30 on Monday. The firm has a market cap of $16.95 billion, a price-to-earnings ratio of -3,426.97, a price-to-earnings-growth ratio of 2.16 and a beta of 2.00. The company’s 50-day simple moving average is $35.43 and its 200-day simple moving average is $36.20. Toast, Inc. has a 52-week low of $21.32 and a 52-week high of $44.12.

Toast (NYSE:TOST) last posted 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). Toast had a return on equity of 1.54% and a net margin of 0.40%. The firm had revenue of $1.34 billion during the quarter, compared to analyst estimates of $1.32 billion. Equities research analysts anticipate that Toast, Inc. will post 0.39 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

TOST has been the topic of several recent analyst reports. Oppenheimer assumed coverage on Toast in a research report on Friday, January 24th. They set an “outperform” rating and a $46.00 target price on the stock. Royal Bank of Canada increased their price objective on shares of Toast from $40.00 to $45.00 and gave the company a “sector perform” rating in a research report on Thursday, February 20th. Morgan Stanley cut their price target on shares of Toast from $50.00 to $46.00 and set an “overweight” rating on the stock in a research note on Wednesday, April 16th. Robert W. Baird boosted their price objective on shares of Toast from $38.00 to $40.00 and gave the company a “neutral” rating in a report on Thursday, February 20th. Finally, Needham & Company LLC reaffirmed a “buy” rating and set a $50.00 price target on shares of Toast in a research report on Thursday, February 20th. Thirteen analysts have rated the stock with a hold rating and ten have issued a buy rating to the company’s stock. According to data from MarketBeat, the stock currently has an average rating of “Hold” and an average target price of $40.09.

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.