DekaBank Deutsche Girozentrale Boosts Position in Toast, Inc. (NYSE:TOST)

DekaBank Deutsche Girozentrale increased its holdings in shares of Toast, Inc. (NYSE:TOST) by 6.2% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 27,343 shares of the company’s stock after purchasing an additional 1,608 shares during the quarter. DekaBank Deutsche Girozentrale’s holdings in Toast were worth $510,000 at the end of the most recent quarter.

Several other institutional investors have also recently added to or reduced their stakes in the business. International Assets Investment Management LLC lifted its stake in Toast by 1,542.9% during the fourth quarter. International Assets Investment Management LLC now owns 57,336 shares of the company’s stock worth $1,047,000 after purchasing an additional 53,846 shares during the last quarter. Asset Management One Co. Ltd. lifted its stake in Toast by 4.0% during the fourth quarter. Asset Management One Co. Ltd. now owns 120,711 shares of the company’s stock worth $2,284,000 after purchasing an additional 4,593 shares during the last quarter. Arizona State Retirement System lifted its stake in Toast by 7.1% during the fourth quarter. Arizona State Retirement System now owns 90,333 shares of the company’s stock worth $1,649,000 after purchasing an additional 6,006 shares during the last quarter. Lewis Asset Management LLC purchased a new stake in Toast during the fourth quarter worth approximately $700,000. Finally, Regatta Capital Group LLC purchased a new stake in Toast during the fourth quarter worth approximately $254,000. Hedge funds and other institutional investors own 82.91% of the company’s stock.

Toast Stock Down 5.5 %

Shares of TOST stock opened at $22.51 on Tuesday. The business’s fifty day moving average price is $22.81 and its 200 day moving average price is $18.93. Toast, Inc. has a 1-year low of $13.77 and a 1-year high of $27.00.

Toast (NYSE:TOST) last announced its quarterly earnings data on Thursday, February 15th. The company reported ($0.07) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.11) by $0.04. Toast had a negative return on equity of 21.77% and a negative net margin of 6.36%. The firm had revenue of $1.04 billion for the quarter, compared to analyst estimates of $1.02 billion. During the same quarter in the prior year, the company posted ($0.19) earnings per share. Toast’s quarterly revenue was up 34.7% on a year-over-year basis. As a group, equities research analysts anticipate that Toast, Inc. will post -0.22 EPS for the current year.

Analyst Upgrades and Downgrades

A number of brokerages have weighed in on TOST. Royal Bank of Canada reiterated a “sector perform” rating and issued a $23.00 price objective on shares of Toast in a research note on Thursday, April 11th. Mizuho reiterated a “neutral” rating and issued a $17.00 price objective on shares of Toast in a research note on Wednesday, March 27th. BNP Paribas upgraded Toast from a “neutral” rating to an “outperform” rating and set a $30.00 price objective for the company in a research note on Thursday, March 7th. Wells Fargo & Company boosted their price objective on Toast from $15.00 to $17.00 and gave the company an “underweight” rating in a research note on Friday. Finally, Piper Sandler boosted their price objective on Toast from $18.00 to $20.00 and gave the company a “neutral” rating in a research note on Friday, February 16th. One investment analyst has rated the stock with a sell rating, eight have given a hold rating and nine have issued a buy rating to the stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Hold” and an average price target of $24.32.

Insider Buying and Selling

In related news, CEO Aman Narang sold 2,471 shares of the company’s stock in a transaction on Tuesday, April 2nd. The stock was sold at an average price of $23.40, for a total transaction of $57,821.40. Following the transaction, the chief executive officer now owns 1,114,454 shares of the company’s stock, valued at $26,078,223.60. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. In other Toast news, President Stephen Fredette sold 2,272 shares of the company’s stock in a transaction on Tuesday, April 2nd. The stock was sold at an average price of $23.40, for a total value of $53,164.80. Following the sale, the president now owns 2,835,759 shares of the company’s stock, valued at $66,356,760.60. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO Aman Narang sold 2,471 shares of the company’s stock in a transaction on Tuesday, April 2nd. The shares were sold at an average price of $23.40, for a total value of $57,821.40. Following the completion of the sale, the chief executive officer now directly owns 1,114,454 shares in the company, valued at approximately $26,078,223.60. The disclosure for this sale can be found here. Insiders have sold 363,688 shares of company stock valued at $7,499,141 over the last quarter. Company insiders own 13.70% of the company’s stock.

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.