Norges Bank Purchases Shares of 5,648,498 Toast, Inc. (NYSE:TOST)

Norges Bank acquired a new position in Toast, Inc. (NYSE:TOST) in the fourth quarter, HoldingsChannel reports. The firm acquired 5,648,498 shares of the company’s stock, valued at approximately $205,888,000.

A number of other institutional investors also recently made changes to their positions in TOST. Sumitomo Mitsui DS Asset Management Company Ltd raised its position in Toast by 0.8% in the 4th quarter. Sumitomo Mitsui DS Asset Management Company Ltd now owns 38,632 shares of the company’s stock worth $1,408,000 after purchasing an additional 301 shares during the period. EverSource Wealth Advisors LLC increased its holdings in shares of Toast by 11.6% in the fourth quarter. EverSource Wealth Advisors LLC now owns 3,435 shares of the company’s stock worth $125,000 after buying an additional 358 shares during the period. Mirador Capital Partners LP lifted its stake in shares of Toast by 0.9% in the 4th quarter. Mirador Capital Partners LP now owns 41,938 shares of the company’s stock valued at $1,529,000 after acquiring an additional 360 shares during the last quarter. Blue Trust Inc. lifted its stake in shares of Toast by 120.4% in the 4th quarter. Blue Trust Inc. now owns 692 shares of the company’s stock valued at $25,000 after acquiring an additional 378 shares during the last quarter. Finally, Farther Finance Advisors LLC grew its position in Toast by 19.8% during the 4th quarter. Farther Finance Advisors LLC now owns 2,435 shares of the company’s stock worth $89,000 after acquiring an additional 402 shares during the last quarter. Hedge funds and other institutional investors own 82.91% of the company’s stock.

Toast Stock Performance

Shares of NYSE TOST opened at $33.53 on Monday. The company has a 50 day simple moving average of $37.72 and a two-hundred day simple moving average of $35.48. Toast, Inc. has a fifty-two week low of $21.32 and a fifty-two week high of $44.12. The company has a market capitalization of $16.56 billion, a price-to-earnings ratio of -3,349.25, a P/E/G ratio of 2.16 and a beta of 1.99.

Toast (NYSE:TOST) last posted its quarterly earnings data on Wednesday, February 19th. The company reported $0.05 earnings per share for the quarter, missing analysts’ consensus estimates of $0.06 by ($0.01). Toast had a net margin of 0.40% and a return on equity of 1.54%. The company had revenue of $1.34 billion for the quarter, compared to the consensus estimate of $1.32 billion. On average, analysts forecast that Toast, Inc. will post 0.39 earnings per share for the current fiscal year.

Analysts Set New Price Targets

Several analysts have weighed in on TOST shares. Canaccord Genuity Group boosted their price objective on Toast from $43.00 to $48.00 and gave the company a “buy” rating in a research report on Thursday, February 20th. Morgan Stanley raised their price target on shares of Toast from $46.00 to $50.00 and gave the stock an “overweight” rating in a report on Thursday, February 20th. JPMorgan Chase & Co. upped their price objective on shares of Toast from $36.00 to $42.00 and gave the company a “neutral” rating in a research note on Thursday, February 20th. BMO Capital Markets raised their target price on Toast from $46.00 to $48.00 and gave the stock an “outperform” rating in a research note on Thursday, February 20th. Finally, Wells Fargo & Company upped their price target on Toast from $25.00 to $30.00 and gave the company an “underweight” rating in a research report on Thursday, January 16th. One investment analyst has rated the stock with a sell rating, twelve have issued a hold rating and nine have assigned a buy rating to the company. According to data from MarketBeat, Toast presently has an average rating of “Hold” and an average price target of $40.48.

Insider Transactions at Toast

In related news, Director Christopher P. Comparato sold 70,000 shares of the business’s stock in a transaction that occurred on Thursday, March 20th. The shares were sold at an average price of $35.71, for a total value of $2,499,700.00. Following the completion of the transaction, the director now directly owns 164,796 shares in the company, valued at $5,884,865.16. The trade was a 29.81 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, General Counsel Brian R. Elworthy sold 653 shares of the company’s stock in a transaction that occurred on Tuesday, February 4th. The shares were sold at an average price of $39.63, for a total value of $25,878.39. Following the completion of the transaction, the general counsel now directly owns 209,206 shares in the company, valued at $8,290,833.78. This trade represents a 0.31 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 270,770 shares of company stock valued at $9,409,211 in the last quarter. 13.32% of the stock is owned by insiders.

About Toast

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.