BNP PARIBAS ASSET MANAGEMENT Holding S.A. Lowers Position in Toast, Inc. $TOST

Key Points

• BNP PARIBAS ASSET MANAGEMENT reduced its holdings in Toast, Inc. by 1.8%, owning approximately 0.77% of the company valued at $126.6 million after selling 71,537 shares in the first quarter.
• Multiple analysts have raised their price targets for Toast, with Needham & Company recently increasing their target from $50.00 to $60.00, reflecting strong market support and a predominantly positive outlook.
• Toast, Inc. reported earnings of $0.13 EPS for the last quarter, missing expectations, but showed a revenue increase of 24.8% year-over-year.

BNP PARIBAS ASSET MANAGEMENT Holding S.A. decreased its stake in Toast, Inc. (NYSE:TOST - Free Report) by 1.8% in the 1st quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 3,817,814 shares of the company's stock after selling 71,537 shares during the period. BNP PARIBAS ASSET MANAGEMENT Holding S.A. owned approximately 0.77% of Toast worth $126,636,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently made changes to their positions in the stock. Vanguard Group Inc. lifted its stake in shares of Toast by 3.5% in the first quarter. Vanguard Group Inc. now owns 43,945,584 shares of the company's stock valued at $1,457,675,000 after purchasing an additional 1,471,352 shares during the period. Sumitomo Mitsui Trust Group Inc. lifted its stake in shares of Toast by 2.9% in the first quarter. Sumitomo Mitsui Trust Group Inc. now owns 5,755,872 shares of the company's stock valued at $190,922,000 after purchasing an additional 160,088 shares during the period. Principal Financial Group Inc. lifted its stake in shares of Toast by 14,258.8% in the first quarter. Principal Financial Group Inc. now owns 5,474,443 shares of the company's stock valued at $181,587,000 after purchasing an additional 5,436,317 shares during the period. Nikko Asset Management Americas Inc. lifted its stake in shares of Toast by 3.2% in the first quarter. Nikko Asset Management Americas Inc. now owns 5,002,752 shares of the company's stock valued at $165,941,000 after purchasing an additional 155,831 shares during the period. Finally, Gilder Gagnon Howe & Co. LLC lifted its stake in shares of Toast by 12.4% in the fourth quarter. Gilder Gagnon Howe & Co. LLC now owns 4,039,303 shares of the company's stock valued at $147,233,000 after purchasing an additional 445,916 shares during the period. Institutional investors and hedge funds own 82.91% of the company's stock.

Insiders Place Their Bets

In related news, CFO Elena Gomez sold 34,170 shares of the business's stock in a transaction that occurred on Wednesday, July 2nd. The shares were sold at an average price of $42.56, for a total value of $1,454,275.20. Following the completion of the sale, the chief financial officer directly owned 139,357 shares in the company, valued at approximately $5,931,033.92. The trade was a 19.69% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO Aman Narang sold 13,829 shares of the business's stock in a transaction that occurred on Wednesday, July 2nd. The shares were sold at an average price of $42.59, for a total transaction of $588,977.11. Following the completion of the sale, the chief executive officer owned 302,498 shares of the company's stock, valued at approximately $12,883,389.82. The trade was a 4.37% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 393,054 shares of company stock valued at $16,803,936. 12.14% of the stock is currently owned by insiders.

Wall Street Analysts Forecast Growth

A number of brokerages have issued reports on TOST. Jefferies Financial Group lifted their target price on shares of Toast from $50.00 to $54.00 and gave the stock a "buy" rating in a research report on Friday, July 18th. Canaccord Genuity Group lifted their target price on shares of Toast from $48.00 to $54.00 and gave the stock a "buy" rating in a research report on Wednesday, August 6th. Keefe, Bruyette & Woods lifted their target price on shares of Toast from $47.00 to $50.00 and gave the stock a "market perform" rating in a research report on Wednesday, August 6th. Piper Sandler lifted their target price on shares of Toast from $35.00 to $37.00 and gave the stock a "neutral" rating in a research report on Friday, May 9th. Finally, Needham & Company LLC lifted their target price on shares of Toast from $50.00 to $60.00 and gave the stock a "buy" rating in a research report on Wednesday, August 6th. Fifteen research analysts have rated the stock with a Buy rating and eleven have given a Hold rating to the stock. According to MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and a consensus target price of $45.54.

Toast Stock Up 1.2%

Shares of NYSE:TOST traded up $0.4950 during trading on Wednesday, reaching $42.5050. The stock had a trading volume of 10,060,213 shares, compared to its average volume of 8,756,194. The business has a fifty day moving average price of $44.71 and a 200-day moving average price of $40.16. The stock has a market cap of $21.68 billion, a P/E ratio of 125.01 and a beta of 2.01. Toast, Inc. has a fifty-two week low of $22.91 and a fifty-two week high of $49.66.

Toast (NYSE:TOST - Get Free Report) last posted its quarterly earnings data on Tuesday, August 5th. The company reported $0.13 earnings per share for the quarter, missing analysts' consensus estimates of $0.23 by ($0.10). The firm had revenue of $1.55 billion during the quarter, compared to analyst estimates of $1.52 billion. Toast had a net margin of 4.07% and a return on equity of 14.19%. The business's quarterly revenue was up 24.8% on a year-over-year basis. During the same period in the prior year, the firm earned $0.02 EPS. As a group, equities analysts forecast that Toast, Inc. will post 0.39 EPS for the current year.

Toast 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.