Deutsche Bank AG Boosts Stock Position in Toast, Inc. (NYSE:TOST)

Deutsche Bank AG grew its stake in Toast, Inc. (NYSE:TOST) by 32.1% during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 1,066,985 shares of the company’s stock after acquiring an additional 259,331 shares during the quarter. Deutsche Bank AG owned 0.23% of Toast worth $38,892,000 at the end of the most recent quarter.

A number of other institutional investors have also recently modified their holdings of TOST. Vanguard Group Inc. boosted its stake in Toast by 10.8% in the 4th quarter. Vanguard Group Inc. now owns 42,474,232 shares of the company’s stock worth $1,548,186,000 after purchasing an additional 4,147,430 shares in the last quarter. Capital International Investors lifted its stake in shares of Toast by 1.9% in the fourth quarter. Capital International Investors now owns 41,961,233 shares of the company’s stock worth $1,529,657,000 after buying an additional 785,641 shares in the last quarter. FMR LLC grew its holdings in shares of Toast by 22.1% during the fourth quarter. FMR LLC now owns 29,853,639 shares of the company’s stock valued at $1,088,165,000 after buying an additional 5,403,896 shares during the last quarter. Arrowstreet Capital Limited Partnership purchased a new stake in shares of Toast during the fourth quarter valued at approximately $282,010,000. Finally, Geode Capital Management LLC raised its holdings in Toast by 2.9% in the 4th quarter. Geode Capital Management LLC now owns 7,061,739 shares of the company’s stock worth $256,970,000 after acquiring an additional 195,805 shares during the last quarter. 82.91% of the stock is owned by hedge funds and other institutional investors.

Toast Stock Performance

TOST opened at $43.95 on Wednesday. The stock has a market cap of $21.86 billion, a price-to-earnings ratio of -4,390.61, a price-to-earnings-growth ratio of 2.16 and a beta of 1.98. The firm’s fifty day moving average is $34.89 and its 200 day moving average is $37.05. Toast, Inc. has a fifty-two week low of $21.32 and a fifty-two week high of $45.56.

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

Wall Street Analysts Forecast Growth

Several equities research analysts recently commented on TOST shares. The Goldman Sachs Group dropped their price objective on Toast from $43.00 to $38.00 and set a “neutral” rating on the stock in a research report on Wednesday, April 2nd. Morgan Stanley lifted their price target on shares of Toast from $46.00 to $50.00 and gave the stock an “overweight” rating in a research note on Friday, May 9th. JPMorgan Chase & Co. increased their price objective on shares of Toast from $36.00 to $42.00 and gave the company a “neutral” rating in a research report on Thursday, February 20th. Wolfe Research raised shares of Toast from a “peer perform” rating to an “outperform” rating and set a $44.00 target price for the company in a research report on Wednesday, April 23rd. Finally, Wells Fargo & Company boosted their target price on shares of Toast from $39.00 to $46.00 and gave the company an “overweight” rating in a research note on Friday, May 9th. Thirteen research analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the company. According to data from MarketBeat, the company presently has an average rating of “Hold” and a consensus price target of $40.91.

Insider Activity

In other news, President Stephen Fredette sold 70,340 shares of the company’s stock in a transaction that occurred on Friday, March 7th. The stock was sold at an average price of $33.87, for a total transaction of $2,382,415.80. Following the sale, the president now directly owns 1,574,316 shares of the company’s stock, valued at $53,322,082.92. This represents a 4.28% 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, Director Christopher P. Comparato sold 70,000 shares of the 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 transaction, the director now owns 164,796 shares of the company’s stock, valued at $5,884,865.16. This represents a 29.81% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 335,991 shares of company stock worth $11,614,520 over the last quarter. Insiders own 13.32% of the company’s stock.

Toast Company 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.