KLP Kapitalforvaltning AS Purchases New Shares in Toast, Inc. (NYSE:TOST)

KLP Kapitalforvaltning AS acquired a new position in Toast, Inc. (NYSE:TOST) during the fourth quarter, according to the company in its most recent filing with the SEC. The fund acquired 135,200 shares of the company’s stock, valued at approximately $4,928,000.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in the company. FMR LLC increased its position in shares of Toast by 50.5% during the third quarter. FMR LLC now owns 24,449,743 shares of the company’s stock worth $692,172,000 after acquiring an additional 8,205,053 shares during the last quarter. ValueAct Holdings L.P. acquired a new stake in Toast during the 3rd quarter valued at approximately $438,301,000. State Street Corp increased its holdings in Toast by 2.5% during the 3rd quarter. State Street Corp now owns 8,325,292 shares of the company’s stock worth $235,689,000 after purchasing an additional 206,789 shares during the last quarter. Geode Capital Management LLC raised its position in shares of Toast by 2.3% in the 3rd quarter. Geode Capital Management LLC now owns 6,865,934 shares of the company’s stock valued at $193,992,000 after purchasing an additional 155,212 shares in the last quarter. Finally, Charles Schwab Investment Management Inc. boosted its stake in shares of Toast by 5.6% during the 4th 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 last quarter. 82.91% of the stock is owned by hedge funds and other institutional investors.

Insider Activity

In other Toast news, Director Christopher P. Comparato sold 70,000 shares of the company’s stock in a transaction that occurred on 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 completion of the sale, the director now directly owns 164,796 shares in the company, valued at $5,884,865.16. This represents a 29.81 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, President Stephen Fredette sold 1,068 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 $42,324.84. Following the transaction, the president now owns 1,644,656 shares in the company, valued at approximately $65,177,717.28. This trade represents a 0.06 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 270,770 shares of company stock valued at $9,409,211. Company insiders own 13.32% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of analysts recently issued reports on the stock. JPMorgan Chase & Co. lifted their price target 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. Morgan Stanley upped 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. Royal Bank of Canada lifted their price target on Toast from $40.00 to $45.00 and gave the stock a “sector perform” rating in a research note on Thursday, February 20th. Robert W. Baird boosted their price objective on Toast from $38.00 to $40.00 and gave the company a “neutral” rating in a report on Thursday, February 20th. Finally, 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. 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’s stock. According to data from MarketBeat, Toast has an average rating of “Hold” and a consensus price target of $40.48.

Toast Stock Up 0.6 %

Toast stock opened at $36.38 on Wednesday. The firm has a 50-day moving average price of $37.84 and a two-hundred day moving average price of $35.23. Toast, Inc. has a 52-week low of $21.32 and a 52-week high of $44.12. The firm has a market capitalization of $17.97 billion, a price-to-earnings ratio of -3,634.37, a PEG ratio of 2.16 and a beta of 1.99.

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