BNP PARIBAS ASSET MANAGEMENT Holding S.A. Sells 360,270 Shares of Toast, Inc. $TOST

BNP PARIBAS ASSET MANAGEMENT Holding S.A. cut its position in shares of Toast, Inc. (NYSE:TOST) by 9.4% during the 2nd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 3,457,544 shares of the company’s stock after selling 360,270 shares during the quarter. BNP PARIBAS ASSET MANAGEMENT Holding S.A. owned about 0.69% of Toast worth $153,135,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors also recently modified their holdings of the business. Cherry Creek Investment Advisors Inc. bought a new position in shares of Toast in the 2nd quarter worth about $221,000. Bryce Point Capital LLC bought a new position in shares of Toast in the 2nd quarter worth about $1,061,000. K.J. Harrison & Partners Inc bought a new position in shares of Toast in the 2nd quarter worth about $1,329,000. Bank of Montreal Can increased its stake in shares of Toast by 860.0% in the 2nd quarter. Bank of Montreal Can now owns 251,153 shares of the company’s stock worth $11,124,000 after acquiring an additional 224,991 shares in the last quarter. Finally, Regal Partners Ltd bought a new position in shares of Toast in the 2nd quarter worth about $221,000. 82.91% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

TOST has been the subject of several research reports. Keefe, Bruyette & Woods decreased their price target on shares of Toast from $50.00 to $42.00 and set a “market perform” rating for the company in a research note on Wednesday, October 1st. Weiss Ratings reissued a “hold (c)” rating on shares of Toast in a report on Wednesday, October 8th. Deutsche Bank Aktiengesellschaft began coverage on Toast in a report on Thursday, July 17th. They issued a “buy” rating and a $54.00 target price on the stock. Citigroup raised Toast to a “strong-buy” rating in a report on Thursday, October 23rd. Finally, Truist Financial set a $47.00 target price on Toast in a report on Friday, October 24th. Two investment analysts have rated the stock with a Strong Buy rating, thirteen have assigned a Buy rating and ten have given a Hold rating to the company. Based on data from MarketBeat.com, Toast presently has an average rating of “Moderate Buy” and a consensus price target of $46.17.

Toast Stock Down 0.1%

Shares of NYSE TOST opened at $35.69 on Wednesday. The firm’s 50-day moving average price is $38.76 and its 200-day moving average price is $41.40. The company has a market cap of $18.20 billion, a PE ratio of 104.98 and a beta of 1.94. Toast, Inc. has a 52-week low of $28.12 and a 52-week high of $49.66.

Toast (NYSE:TOST) last announced its quarterly earnings results on Tuesday, November 4th. The company reported $0.16 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.24 by ($0.08). The company had revenue of $1.63 billion for the quarter, compared to analysts’ expectations of $1.58 billion. Toast had a net margin of 4.07% and a return on equity of 14.19%. The business’s revenue was up 25.1% compared to the same quarter last year. During the same period in the previous year, the business earned $0.07 EPS. As a group, equities research analysts anticipate that Toast, Inc. will post 0.39 EPS for the current fiscal year.

Insider Activity at Toast

In related news, General Counsel Brian R. Elworthy sold 4,987 shares of the company’s stock in a transaction on Thursday, October 2nd. The stock was sold at an average price of $35.56, for a total transaction of $177,337.72. Following the completion of the sale, the general counsel owned 227,924 shares in the company, valued at approximately $8,104,977.44. This represents a 2.14% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO Aman Narang sold 13,652 shares of the company’s stock in a transaction on Thursday, October 2nd. The shares were sold at an average price of $35.56, for a total value of $485,465.12. Following the sale, the chief executive officer owned 318,150 shares of the company’s stock, valued at approximately $11,313,414. This trade represents a 4.11% decrease in their position. The SEC filing for this sale provides additional information. Insiders have sold 54,273 shares of company stock valued at $2,015,198 in the last 90 days. 12.14% of the stock is owned by company insiders.

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.