BI Asset Management Fondsmaeglerselskab A S Has $154,000 Stake in Toast, Inc. $TOST

BI Asset Management Fondsmaeglerselskab A S lowered its stake in Toast, Inc. (NYSE:TOST) by 81.7% in the 1st quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 5,802 shares of the company’s stock after selling 25,901 shares during the quarter. BI Asset Management Fondsmaeglerselskab A S’s holdings in Toast were worth $154,000 at the end of the most recent reporting period.

Several other hedge funds also recently modified their holdings of the stock. Alliancebernstein L.P. grew its holdings in Toast by 2,432.8% in the third quarter. Alliancebernstein L.P. now owns 8,215,758 shares of the company’s stock worth $299,957,000 after purchasing an additional 7,891,383 shares during the period. Norges Bank bought a new stake in Toast in the fourth quarter valued at $202,808,000. ValueAct Holdings L.P. raised its holdings in shares of Toast by 135.9% during the fourth quarter. ValueAct Holdings L.P. now owns 8,015,277 shares of the company’s stock valued at $284,622,000 after purchasing an additional 4,618,077 shares during the period. Capital International Investors raised its holdings in shares of Toast by 7.4% during the third quarter. Capital International Investors now owns 48,428,060 shares of the company’s stock valued at $1,768,256,000 after purchasing an additional 3,351,545 shares during the period. Finally, XN LP boosted its position in shares of Toast by 50.8% during the 4th quarter. XN LP now owns 8,988,386 shares of the company’s stock worth $319,178,000 after purchasing an additional 3,029,856 shares in the last quarter. Institutional investors own 82.91% of the company’s stock.

Wall Street Analyst Weigh In

Several analysts have recently commented on the company. Oppenheimer restated an “outperform” rating and issued a $36.00 target price on shares of Toast in a research note on Friday, May 8th. Morgan Stanley set a $45.00 price target on Toast in a research note on Friday, May 8th. Mizuho cut their price target on Toast from $45.00 to $38.00 and set an “outperform” rating on the stock in a report on Tuesday, May 12th. BMO Capital Markets reissued an “outperform” rating on shares of Toast in a research note on Monday, June 1st. Finally, Weiss Ratings restated a “hold (c)” rating on shares of Toast in a report on Wednesday, May 20th. Two equities research analysts have rated the stock with a Strong Buy rating, seventeen have assigned a Buy rating and eight have given a Hold rating to the company’s stock. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $37.62.

Insider Buying and Selling at Toast

In other Toast news, President Stephen Fredette sold 7,289 shares of Toast stock in a transaction dated Thursday, April 2nd. The stock was sold at an average price of $26.19, for a total transaction of $190,898.91. Following the completion of the transaction, the president owned 920,985 shares in the company, valued at approximately $24,120,597.15. The trade was a 0.79% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO Aman Narang sold 13,463 shares of the business’s stock in a transaction that occurred on Thursday, April 2nd. The stock was sold at an average price of $26.19, for a total value of $352,595.97. Following the sale, the chief executive officer directly owned 54,013 shares of the company’s stock, valued at $1,414,600.47. This represents a 19.95% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. In the last three months, insiders have sold 147,783 shares of company stock worth $3,838,037. 10.03% of the stock is currently owned by corporate insiders.

Toast Price Performance

NYSE:TOST opened at $25.77 on Friday. Toast, Inc. has a one year low of $22.26 and a one year high of $49.66. The company has a market cap of $13.30 billion, a PE ratio of 39.65 and a beta of 1.76. The firm has a 50-day moving average of $25.71 and a 200-day moving average of $28.95.

Toast Profile

Toast, Inc (NYSE: TOST) is a technology company that builds a cloud-based platform for restaurants and other foodservice businesses. Headquartered in Boston, Massachusetts, Toast offers integrated point-of-sale (POS) systems and a suite of software and hardware designed to streamline front-of-house and back-of-house operations. The company went public in 2021 and has positioned itself as a vertically integrated provider for the restaurant industry.

Toast’s product portfolio includes touchscreen POS terminals and handheld order-and-pay devices, kitchen display systems, and peripherals tailored for high-volume foodservice environments.