KBC Group NV Raises Holdings in Toast, Inc. (NYSE:TOST)

KBC Group NV increased its holdings in Toast, Inc. (NYSE:TOST) by 24.7% in the 4th quarter, HoldingsChannel reports. The fund owned 53,401 shares of the company’s stock after purchasing an additional 10,563 shares during the quarter. KBC Group NV’s holdings in Toast were worth $1,946,000 at the end of the most recent quarter.

Several other hedge funds also recently added to or reduced their stakes in TOST. The Manufacturers Life Insurance Company grew its position in Toast by 9.1% in the second quarter. The Manufacturers Life Insurance Company now owns 97,883 shares of the company’s stock worth $2,522,000 after acquiring an additional 8,186 shares during the period. Northwestern Mutual Wealth Management Co. grew its position in Toast by 1.2% in the second quarter. Northwestern Mutual Wealth Management Co. now owns 35,968 shares of the company’s stock worth $927,000 after acquiring an additional 421 shares during the period. Truist Financial Corp purchased a new position in Toast in the second quarter worth approximately $618,000. Mirador Capital Partners LP grew its position in Toast by 7.4% in the third quarter. Mirador Capital Partners LP now owns 41,578 shares of the company’s stock worth $1,177,000 after acquiring an additional 2,862 shares during the period. Finally, Atomi Financial Group Inc. purchased a new position in Toast in the third quarter worth approximately $330,000. 82.91% of the stock is currently owned by hedge funds and other institutional investors.

Toast Stock Performance

TOST opened at $41.06 on Friday. The business’s 50-day simple moving average is $38.63 and its 200-day simple moving average is $31.96. Toast, Inc. has a one year low of $17.65 and a one year high of $44.12. The stock has a market capitalization of $19.34 billion, a P/E ratio of -315.85, a price-to-earnings-growth ratio of 2.14 and a beta of 1.97.

Toast (NYSE:TOST) last posted its earnings results on Thursday, November 7th. The company reported $0.07 EPS for the quarter, topping analysts’ consensus estimates of $0.01 by $0.06. Toast had a negative return on equity of 3.84% and a negative net margin of 1.05%. The business had revenue of $1.31 billion for the quarter, compared to analysts’ expectations of $1.29 billion. During the same quarter in the previous year, the firm earned ($0.09) earnings per share. On average, equities research analysts forecast that Toast, Inc. will post 0.03 EPS for the current fiscal year.

Insider Transactions at Toast

In related news, Director David Yuan sold 189,785 shares of the firm’s stock in a transaction dated Monday, November 25th. The stock was sold at an average price of $43.01, for a total transaction of $8,162,652.85. Following the transaction, the director now owns 198,829 shares of the company’s stock, valued at $8,551,635.29. This trade represents a 48.84 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, Director Christopher P. Comparato sold 145,000 shares of the firm’s stock in a transaction dated Thursday, December 19th. The stock was sold at an average price of $36.04, for a total value of $5,225,800.00. Following the transaction, the director now directly owns 182,451 shares in the company, valued at approximately $6,575,534.04. This represents a 44.28 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 562,600 shares of company stock worth $21,823,932. Corporate insiders own 13.32% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research analysts have recently commented on TOST shares. Morgan Stanley raised their price target on Toast from $30.00 to $33.00 and gave the stock an “overweight” rating in a research report on Tuesday, October 22nd. Robert W. Baird raised their price target on Toast from $30.00 to $38.00 and gave the stock a “neutral” rating in a research report on Friday, November 8th. Stephens raised their price target on Toast from $28.00 to $30.00 and gave the stock an “equal weight” rating in a research report on Friday, October 18th. DA Davidson restated a “neutral” rating and set a $38.00 price target (down from $44.00) on shares of Toast in a research report on Thursday, December 5th. Finally, JPMorgan Chase & Co. raised their price target on Toast from $28.00 to $36.00 and gave the stock a “neutral” rating in a research report on Friday, November 8th. One analyst has rated the stock with a sell rating, twelve have issued a hold rating and eleven have given a buy rating to the company. Based on data from MarketBeat, the company has an average rating of “Hold” and an average target price of $35.74.

Toast 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.