BNP Paribas Financial Markets Invests $83.68 Million in Toast, Inc. (NYSE:TOST)

BNP Paribas Financial Markets purchased a new stake in Toast, Inc. (NYSE:TOST - Free Report) in the 4th quarter, according to the company in its most recent Form 13F filing with the SEC. The fund purchased 2,295,846 shares of the company's stock, valued at approximately $83,684,000. BNP Paribas Financial Markets owned approximately 0.49% of Toast as of its most recent filing with the SEC.

A number of other hedge funds have also recently added to or reduced their stakes in TOST. Arrowstreet Capital Limited Partnership bought a new stake in Toast in the fourth quarter worth approximately $282,010,000. Norges Bank bought a new stake in Toast in the fourth quarter worth $205,888,000. FMR LLC increased its position in Toast by 22.1% during the fourth quarter. FMR LLC now owns 29,853,639 shares of the company's stock worth $1,088,165,000 after buying an additional 5,403,896 shares during the last quarter. Vanguard Group Inc. raised its holdings in Toast by 10.8% during the fourth quarter. Vanguard Group Inc. now owns 42,474,232 shares of the company's stock valued at $1,548,186,000 after buying an additional 4,147,430 shares in the last quarter. Finally, Renaissance Technologies LLC lifted its position in shares of Toast by 255.0% in the fourth quarter. Renaissance Technologies LLC now owns 3,504,212 shares of the company's stock worth $127,729,000 after buying an additional 2,517,012 shares during the last quarter. Institutional investors and hedge funds own 82.91% of the company's stock.

Toast Stock Down 0.4 %

Shares of TOST opened at $35.87 on Tuesday. Toast, Inc. has a twelve month low of $21.32 and a twelve month high of $44.12. The stock has a market capitalization of $17.84 billion, a P/E ratio of -3,583.52, a P/E/G ratio of 2.16 and a beta of 1.98. The company has a 50 day moving average of $34.56 and a 200-day moving average of $36.70.

Toast (NYSE:TOST - Get Free Report) last issued its quarterly earnings results on Wednesday, February 19th. The company reported $0.05 earnings per share (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 analyst estimates of $1.32 billion. On average, sell-side analysts anticipate that Toast, Inc. will post 0.39 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

TOST has been the topic of a number of recent analyst reports. Oppenheimer assumed coverage on Toast in a research note on Friday, January 24th. They issued an "outperform" rating and a $46.00 price objective on the stock. Evercore ISI began coverage on shares of Toast in a research note on Wednesday, April 9th. They issued an "in-line" rating and a $29.00 price objective for the company. Needham & Company LLC reaffirmed a "buy" rating and set a $50.00 price objective on shares of Toast in a report on Thursday, February 20th. Wolfe Research upgraded shares of Toast from a "peer perform" rating to an "outperform" rating and set a $44.00 target price on the stock in a report on Wednesday, April 23rd. Finally, JPMorgan Chase & Co. upped their price target on shares of Toast from $36.00 to $42.00 and gave the company a "neutral" rating in a report on Thursday, February 20th. Thirteen analysts have rated the stock with a hold rating and eleven have issued a buy rating to the company's stock. According to MarketBeat.com, the company has a consensus rating of "Hold" and an average target price of $40.35.

Insider Buying and Selling

In other news, Director Christopher P. Comparato sold 70,000 shares of Toast stock in a transaction dated Thursday, April 17th. The shares were sold at an average price of $34.21, for a total value of $2,394,700.00. Following the completion of the transaction, the director now owns 179,316 shares of the company's stock, valued at $6,134,400.36. This trade represents a 28.08 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, President Stephen Fredette sold 70,340 shares of the company's stock in a transaction dated Friday, March 7th. The shares were sold at an average price of $33.87, for a total transaction of $2,382,415.80. Following the completion of the sale, the president now directly owns 1,574,316 shares in the company, valued at approximately $53,322,082.92. The trade was a 4.28 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 335,991 shares of company stock worth $11,614,520. Corporate 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.

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