KBC Group NV Decreases Stock Position in Toast, Inc. $TOST

Key Points

• KBC Group cut its stake in Toast by 36.8% in Q4, selling 406,013 shares and leaving it with 697,544 shares worth about $24.77 million (≈0.14% of the company).
• Company insiders, including CFO Elena Gomez and General Counsel Brian Elworthy, sold shares on April 2; insiders have sold 46,030 shares in the last 90 days (≈$1.23 million) and now own 12.14% of the stock.
• Analysts rate Toast a consensus "Moderate Buy" with an average price target of $39.88; the company recently missed EPS expectations ($0.16 vs. $0.24) while reporting revenue up 22% year‑over‑year and a market cap of $15.26 billion.

KBC Group NV lessened its stake in shares of Toast, Inc. (NYSE:TOST - Free Report) by 36.8% during the 4th quarter, according to its most recent 13F filing with the SEC. The firm owned 697,544 shares of the company's stock after selling 406,013 shares during the period. KBC Group NV owned approximately 0.14% of Toast worth $24,769,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently bought and sold shares of TOST. Allianz Asset Management GmbH increased its stake in Toast by 322.0% in the third quarter. Allianz Asset Management GmbH now owns 362,765 shares of the company's stock worth $13,245,000 after purchasing an additional 276,803 shares during the period. Candriam S.C.A. increased its stake in Toast by 10.9% in the third quarter. Candriam S.C.A. now owns 602,200 shares of the company's stock worth $21,986,000 after purchasing an additional 59,045 shares during the period. Nordea Investment Management AB increased its stake in Toast by 49.5% in the third quarter. Nordea Investment Management AB now owns 138,619 shares of the company's stock worth $4,988,000 after purchasing an additional 45,898 shares during the period. Citigroup Inc. increased its stake in Toast by 17.2% in the third quarter. Citigroup Inc. now owns 1,042,102 shares of the company's stock worth $38,047,000 after purchasing an additional 152,807 shares during the period. Finally, Quantbot Technologies LP purchased a new stake in Toast in the third quarter worth $2,891,000. Hedge funds and other institutional investors own 82.91% of the company's stock.

Insider Activity

In other news, CFO Elena Gomez sold 8,929 shares of the firm's stock in a transaction on Thursday, April 2nd. The stock was sold at an average price of $26.19, for a total transaction of $233,850.51. Following the transaction, the chief financial officer owned 173,064 shares in the company, valued at approximately $4,532,546.16. This trade represents a 4.91% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through this link. Also, General Counsel Brian R. Elworthy sold 3,664 shares of the firm's stock in a transaction on Thursday, April 2nd. The shares were sold at an average price of $26.19, for a total value of $95,960.16. Following the transaction, the general counsel owned 243,642 shares in the company, valued at approximately $6,380,983.98. This represents a 1.48% decrease in their position. The disclosure for this sale is available in the SEC filing. In the last 90 days, insiders have sold 46,030 shares of company stock valued at $1,231,451. Company insiders own 12.14% of the company's stock.

Wall Street Analysts Forecast Growth

A number of research firms have weighed in on TOST. Evercore upgraded Toast from an "in-line" rating to an "outperform" rating and set a $40.00 target price on the stock in a research note on Tuesday, January 20th. Stephens set a $42.00 target price on Toast in a research note on Friday, January 16th. Weiss Ratings reiterated a "hold (c-)" rating on shares of Toast in a research note on Monday, December 29th. Needham & Company LLC reduced their target price on Toast from $60.00 to $35.00 and set a "buy" rating on the stock in a research note on Friday, February 13th. Finally, Canaccord Genuity Group set a $37.00 target price on Toast in a research note on Friday, February 13th. Seventeen investment analysts have rated the stock with a Buy rating and eight have issued a Hold rating to the company. Based on data from MarketBeat.com, Toast currently has an average rating of "Moderate Buy" and a consensus price target of $39.88.

Toast Trading Up 2.2%

Shares of Toast stock opened at $29.12 on Friday. The firm has a market cap of $15.26 billion, a P/E ratio of 53.92 and a beta of 1.90. Toast, Inc. has a 12 month low of $24.35 and a 12 month high of $49.66. The stock's fifty day moving average price is $27.46 and its 200-day moving average price is $32.49.

Toast (NYSE:TOST - Get Free Report) last announced its quarterly earnings results on Thursday, February 12th. The company reported $0.16 EPS for the quarter, missing the consensus estimate of $0.24 by ($0.08). The firm had revenue of $1.63 billion for the quarter, compared to analysts' expectations of $1.62 billion. Toast had a net margin of 5.56% and a return on equity of 18.14%. The business's quarterly revenue was up 22.0% on a year-over-year basis. During the same quarter in the prior year, the business posted $0.05 EPS. Analysts forecast that Toast, Inc. will post 0.39 earnings per share for the current year.

Toast declared that its Board of Directors has approved a stock repurchase plan on Thursday, February 12th that permits the company to buyback $0.00 in outstanding shares. This buyback authorization permits the company to reacquire shares of its stock through open market purchases. Stock buyback plans are typically an indication that the company's management believes its stock is undervalued.

Toast Company Profile

Toast, Inc NYSE: TOST is a technology company that builds a cloud-based platform for restaurants and other foodservice businesses. Headquartered in Boston, Massachusetts, Toast offers integrated point-of-sale (POS) systems and a suite of software and hardware designed to streamline front-of-house and back-of-house operations. The company went public in 2021 and has positioned itself as a vertically integrated provider for the restaurant industry.

Toast's product portfolio includes touchscreen POS terminals and handheld order-and-pay devices, kitchen display systems, and peripherals tailored for high-volume foodservice environments.

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