BI Asset Management Fondsmaeglerselskab A S Buys 29,355 Shares of Toast, Inc. (NYSE:TOST)

BI Asset Management Fondsmaeglerselskab A S grew its position in shares of Toast, Inc. (NYSE:TOST) by 497.3% in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 35,258 shares of the company’s stock after acquiring an additional 29,355 shares during the period. BI Asset Management Fondsmaeglerselskab A S’s holdings in Toast were worth $879,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also bought and sold shares of TOST. Sei Investments Co. boosted its stake in Toast by 105.0% during the 3rd quarter. Sei Investments Co. now owns 691,018 shares of the company’s stock valued at $12,943,000 after purchasing an additional 353,903 shares during the last quarter. Morgan Stanley lifted its stake in shares of Toast by 149.3% during the 3rd quarter. Morgan Stanley now owns 12,007,286 shares of the company’s stock valued at $224,896,000 after buying an additional 7,191,595 shares in the last quarter. Diversified Trust Co grew its position in shares of Toast by 16.7% during the third quarter. Diversified Trust Co now owns 42,276 shares of the company’s stock worth $792,000 after purchasing an additional 6,043 shares in the last quarter. Graham Capital Management L.P. lifted its holdings in shares of Toast by 76.0% in the third quarter. Graham Capital Management L.P. now owns 67,304 shares of the company’s stock worth $1,261,000 after buying an additional 29,065 shares in the last quarter. Finally, Neo Ivy Capital Management increased its holdings in shares of Toast by 403.3% in the third quarter. Neo Ivy Capital Management now owns 17,876 shares of the company’s stock worth $335,000 after purchasing an additional 14,324 shares during the last quarter. Hedge funds and other institutional investors own 82.91% of the company’s stock.

Analysts Set New Price Targets

TOST has been the subject of a number of analyst reports. Robert W. Baird downgraded shares of Toast from an “outperform” rating to a “neutral” rating and set a $28.00 price target for the company. in a report on Tuesday, May 21st. Mizuho boosted their price objective on shares of Toast from $17.00 to $21.00 and gave the company a “neutral” rating in a research report on Thursday, May 9th. UBS Group raised their price target on Toast from $22.00 to $31.00 and gave the company a “buy” rating in a research note on Thursday, March 28th. Wedbush reissued an “outperform” rating and issued a $30.00 price objective on shares of Toast in a research note on Thursday, May 30th. Finally, Royal Bank of Canada raised their price target on shares of Toast from $23.00 to $27.00 and gave the company a “sector perform” rating in a report on Wednesday, May 8th. One analyst has rated the stock with a sell rating, ten have issued a hold rating and ten have assigned a buy rating to the company’s stock. Based on data from MarketBeat, Toast presently has an average rating of “Hold” and a consensus target price of $26.14.

Insider Activity at Toast

In related news, President Stephen Fredette sold 3,810 shares of the stock in a transaction that occurred on Tuesday, July 2nd. The stock was sold at an average price of $25.64, for a total value of $97,688.40. Following the completion of the transaction, the president now directly owns 2,847,315 shares of the company’s stock, valued at approximately $73,005,156.60. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. In other news, President Stephen Fredette sold 3,810 shares of the stock in a transaction on Tuesday, July 2nd. The stock was sold at an average price of $25.64, for a total transaction of $97,688.40. Following the completion of the sale, the president now owns 2,847,315 shares in the company, valued at approximately $73,005,156.60. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, General Counsel Brian R. Elworthy sold 2,573 shares of the stock in a transaction on Wednesday, July 3rd. The shares were sold at an average price of $25.64, for a total value of $65,971.72. Following the sale, the general counsel now owns 170,531 shares of the company’s stock, valued at approximately $4,372,414.84. The disclosure for this sale can be found here. Insiders sold 229,253 shares of company stock worth $5,630,212 in the last 90 days. 13.32% of the stock is currently owned by company insiders.

Toast Price Performance

Shares of NYSE:TOST traded down $1.26 during midday trading on Wednesday, reaching $23.67. The company’s stock had a trading volume of 2,334,754 shares, compared to its average volume of 7,937,016. Toast, Inc. has a 1 year low of $13.77 and a 1 year high of $27.90. The business has a 50 day moving average price of $24.81 and a 200 day moving average price of $22.46.

Toast (NYSE:TOST) last announced its earnings results on Tuesday, May 7th. The company reported ($0.15) earnings per share for the quarter, meeting the consensus estimate of ($0.15). Toast had a negative net margin of 6.02% and a negative return on equity of 21.45%. The business had revenue of $1.08 billion during the quarter, compared to the consensus estimate of $1.04 billion. During the same period in the prior year, the firm earned ($0.16) earnings per share. The business’s quarterly revenue was up 31.3% compared to the same quarter last year. Equities research analysts forecast that Toast, Inc. will post -0.14 EPS for the current year.

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.