BNP PARIBAS ASSET MANAGEMENT Holding S.A. Grows Stake in Toast, Inc. $TOST

BNP PARIBAS ASSET MANAGEMENT Holding S.A. increased its holdings in shares of Toast, Inc. (NYSE:TOST) by 17.0% in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 4,044,838 shares of the company’s stock after purchasing an additional 587,294 shares during the quarter. BNP PARIBAS ASSET MANAGEMENT Holding S.A. owned approximately 0.79% of Toast worth $147,677,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in the business. Jennison Associates LLC raised its holdings in Toast by 331.0% during the second quarter. Jennison Associates LLC now owns 8,601,887 shares of the company’s stock worth $380,978,000 after purchasing an additional 6,606,245 shares in the last quarter. Norges Bank purchased a new position in shares of Toast in the 2nd quarter valued at $219,324,000. Marshall Wace LLP grew its position in shares of Toast by 108.3% in the 2nd quarter. Marshall Wace LLP now owns 7,887,409 shares of the company’s stock valued at $349,333,000 after buying an additional 4,100,104 shares during the last quarter. Sumitomo Mitsui Trust Group Inc. raised its stake in Toast by 35.8% during the 3rd quarter. Sumitomo Mitsui Trust Group Inc. now owns 7,517,216 shares of the company’s stock worth $274,454,000 after acquiring an additional 1,982,566 shares in the last quarter. Finally, 1832 Asset Management L.P. lifted its position in Toast by 65.1% in the second quarter. 1832 Asset Management L.P. now owns 4,314,200 shares of the company’s stock valued at $191,076,000 after acquiring an additional 1,701,900 shares during the last quarter. 82.91% of the stock is owned by institutional investors and hedge funds.

Insider Transactions at Toast

In other news, CRO Jonathan Vassil sold 1,454 shares of the company’s stock in a transaction on Tuesday, February 3rd. The shares were sold at an average price of $30.34, for a total transaction of $44,114.36. Following the transaction, the executive directly owned 139,893 shares of the company’s stock, valued at $4,244,353.62. This represents a 1.03% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CFO Elena Gomez sold 1,437 shares of the stock in a transaction dated Tuesday, February 3rd. The shares were sold at an average price of $30.34, for a total transaction of $43,598.58. Following the completion of the transaction, the chief financial officer owned 164,629 shares of the company’s stock, valued at $4,994,843.86. This represents a 0.87% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Over the last 90 days, insiders sold 100,856 shares of company stock valued at $3,540,449. 12.14% of the stock is owned by company insiders.

Toast Stock Down 0.0%

Shares of NYSE:TOST opened at $27.66 on Friday. Toast, Inc. has a fifty-two week low of $25.91 and a fifty-two week high of $49.66. The firm’s 50-day simple moving average is $32.95 and its 200-day simple moving average is $36.70. The company has a market cap of $16.27 billion, a price-to-earnings ratio of 51.23 and a beta of 1.93.

Toast (NYSE:TOST) last announced its quarterly earnings data on Thursday, February 12th. The company reported $0.16 EPS for the quarter, missing analysts’ consensus estimates of $0.24 by ($0.08). Toast had a net margin of 5.56% and a return on equity of 18.86%. The firm had revenue of $1.63 billion during the quarter, compared to analyst estimates of $1.62 billion. During the same quarter in the previous year, the business earned $0.05 EPS. Toast’s revenue for the quarter was up 22.0% on a year-over-year basis. On average, research analysts forecast that Toast, Inc. will post 0.39 EPS for the current year.

Toast declared that its Board of Directors has initiated a share buyback plan on Thursday, February 12th that authorizes the company to repurchase $0.00 in shares. This repurchase authorization authorizes the company to repurchase shares of its stock through open market purchases. Shares repurchase plans are typically an indication that the company’s management believes its stock is undervalued.

Analyst Ratings Changes

Several equities analysts have issued reports on the company. The Goldman Sachs Group dropped their price objective on Toast from $43.00 to $31.00 and set a “neutral” rating on the stock in a report on Tuesday. Mizuho decreased their target price on Toast from $57.00 to $45.00 and set an “outperform” rating for the company in a research report on Tuesday. Citigroup dropped their price target on Toast from $51.00 to $42.00 and set a “buy” rating on the stock in a research note on Friday, February 13th. Needham & Company LLC reduced their price objective on Toast from $60.00 to $35.00 and set a “buy” rating for the company in a research note on Friday, February 13th. Finally, Wells Fargo & Company decreased their price objective on Toast from $47.00 to $36.00 and set an “overweight” rating for the company in a report on Friday, February 13th. Seventeen investment analysts have rated the stock with a Buy rating and seven have issued a Hold rating to the stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $40.71.

About Toast

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.