BNP Paribas Financial Markets Raises Holdings in Toast, Inc. $TOST

BNP Paribas Financial Markets grew its position in shares of Toast, Inc. (NYSE:TOST) by 17.6% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 1,824,558 shares of the company’s stock after purchasing an additional 273,084 shares during the period. BNP Paribas Financial Markets’ holdings in Toast were worth $64,790,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently made changes to their positions in TOST. Central Pacific Bank Trust Division grew its position in shares of Toast by 123.5% during the fourth quarter. Central Pacific Bank Trust Division now owns 943 shares of the company’s stock valued at $33,000 after purchasing an additional 521 shares in the last quarter. Smartleaf Asset Management LLC grew its position in shares of Toast by 59.1% during the third quarter. Smartleaf Asset Management LLC now owns 1,182 shares of the company’s stock valued at $44,000 after purchasing an additional 439 shares in the last quarter. Cornerstone Planning Group LLC grew its position in shares of Toast by 8,807.1% during the fourth quarter. Cornerstone Planning Group LLC now owns 1,247 shares of the company’s stock valued at $44,000 after purchasing an additional 1,233 shares in the last quarter. Kohmann Bosshard Financial Services LLC purchased a new position in shares of Toast during the fourth quarter valued at about $45,000. Finally, GHP Investment Advisors Inc. grew its position in shares of Toast by 40.0% during the fourth quarter. GHP Investment Advisors Inc. now owns 1,400 shares of the company’s stock valued at $50,000 after purchasing an additional 400 shares in the last quarter. Hedge funds and other institutional investors own 82.91% of the company’s stock.

Toast Price Performance

Shares of NYSE TOST opened at $27.66 on Tuesday. The company has a market cap of $14.27 billion, a P/E ratio of 42.56 and a beta of 1.76. Toast, Inc. has a 1 year low of $22.26 and a 1 year high of $49.66. The firm has a 50-day simple moving average of $26.28 and a two-hundred day simple moving average of $30.16.

Toast announced that its board has authorized a stock buyback plan on Thursday, February 12th that authorizes the company to buyback $0.00 in shares. This buyback authorization authorizes the company to buy shares of its stock through open market purchases. Shares buyback plans are typically a sign that the company’s board believes its stock is undervalued.

Insiders Place Their Bets

In other Toast news, CRO Jonathan Vassil sold 6,438 shares of the firm’s stock in a transaction dated Thursday, April 2nd. The shares were sold at an average price of $26.19, for a total value of $168,611.22. Following the completion of the sale, the executive owned 146,618 shares of the company’s stock, valued at $3,839,925.42. This trade represents a 4.21% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, CFO Elena Gomez sold 8,929 shares of the firm’s stock in a transaction dated Thursday, April 2nd. The stock was sold at an average price of $26.19, for a total transaction of $233,850.51. Following the completion of the sale, the chief financial officer directly owned 173,064 shares of the company’s stock, valued at approximately $4,532,546.16. The trade was a 4.91% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold 39,783 shares of company stock valued at $1,041,917 over the last quarter. Corporate insiders own 10.03% of the company’s stock.

Analysts Set New Price Targets

A number of brokerages have recently weighed in on TOST. BMO Capital Markets restated an “outperform” rating on shares of Toast in a research report on Monday. Truist Financial lowered their price target on shares of Toast from $36.00 to $30.00 and set a “buy” rating for the company in a report on Tuesday, May 12th. Oppenheimer reaffirmed an “outperform” rating and issued a $36.00 price target on shares of Toast in a report on Friday, May 8th. Wall Street Zen downgraded shares of Toast from a “buy” rating to a “hold” rating in a report on Saturday, May 9th. Finally, Mizuho lowered their price target on shares of Toast from $45.00 to $38.00 and set an “outperform” rating for the company in a report on Tuesday, May 12th. One investment analyst has rated the stock with a Strong Buy rating, seventeen have given a Buy rating and eight have issued a Hold rating to the stock. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $37.84.

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.