KBC Group NV Acquires 17,106 Shares of Toast, Inc. (NYSE:TOST)

KBC Group NV increased its holdings in Toast, Inc. (NYSE:TOST) by 66.5% in the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 42,838 shares of the company’s stock after purchasing an additional 17,106 shares during the period. KBC Group NV’s holdings in Toast were worth $1,213,000 at the end of the most recent reporting period.

Other hedge funds have also recently bought and sold shares of the company. West Branch Capital LLC acquired a new stake in shares of Toast in the second quarter worth about $26,000. LRI Investments LLC bought a new position in shares of Toast in the 1st quarter valued at approximately $27,000. Toth Financial Advisory Corp acquired a new stake in Toast in the 3rd quarter worth approximately $28,000. Thurston Springer Miller Herd & Titak Inc. bought a new stake in Toast during the second quarter worth approximately $33,000. Finally, 1620 Investment Advisors Inc. acquired a new position in Toast during the second quarter valued at approximately $34,000. 82.91% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling at Toast

In related news, CEO Aman Narang sold 10,106 shares of the firm’s stock in a transaction on Wednesday, October 2nd. The stock was sold at an average price of $27.77, for a total transaction of $280,643.62. Following the completion of the sale, the chief executive officer now directly owns 968,095 shares of the company’s stock, valued at $26,883,998.15. This trade represents a 1.03 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, President Stephen Fredette sold 101,574 shares of Toast stock in a transaction on Thursday, September 12th. The shares were sold at an average price of $25.73, for a total value of $2,613,499.02. Following the completion of the transaction, the president now owns 2,395,685 shares of the company’s stock, valued at approximately $61,640,975.05. The trade was a 4.07 % decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders sold 1,475,651 shares of company stock valued at $43,037,212. 13.32% of the stock is currently owned by company insiders.

Toast Price Performance

Shares of TOST stock opened at $39.82 on Tuesday. The stock’s fifty day simple moving average is $29.75 and its 200 day simple moving average is $26.57. Toast, Inc. has a one year low of $13.77 and a one year high of $41.05. The firm has a market cap of $18.76 billion, a price-to-earnings ratio of -306.23 and a beta of 1.74.

Analyst Ratings Changes

A number of brokerages have recently weighed in on TOST. Wedbush boosted their price objective on shares of Toast from $35.00 to $45.00 and gave the stock an “outperform” rating in a research note on Friday, November 8th. Needham & Company LLC reissued a “buy” rating and set a $30.00 target price on shares of Toast in a research report on Wednesday, August 7th. Deutsche Bank Aktiengesellschaft upped their price target on shares of Toast from $24.00 to $30.00 and gave the company a “hold” rating in a report on Monday, November 4th. Wells Fargo & Company lifted their price objective on Toast from $23.00 to $25.00 and gave the stock an “underweight” rating in a research note on Friday, November 8th. Finally, Robert W. Baird increased their target price on Toast from $30.00 to $38.00 and gave the company a “neutral” rating in a research note on Friday, November 8th. One equities research analyst has rated the stock with a sell rating, nine have assigned a hold rating and eleven have issued a buy rating to the stock. According to data from MarketBeat.com, the company has an average rating of “Hold” and a consensus price target of $32.75.

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.