Deutsche Bank AG Sells 101,956 Shares of Toast, Inc. (NYSE:TOST)

Deutsche Bank AG reduced its stake in Toast, Inc. (NYSE:TOST) by 9.6% during the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 965,029 shares of the company’s stock after selling 101,956 shares during the period. Deutsche Bank AG’s holdings in Toast were worth $32,010,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. SBI Securities Co. Ltd. increased its stake in shares of Toast by 29.2% in the first quarter. SBI Securities Co. Ltd. now owns 1,257 shares of the company’s stock worth $42,000 after buying an additional 284 shares during the period. Stonekeep Investments LLC grew its holdings in Toast by 4.0% in the 1st quarter. Stonekeep Investments LLC now owns 7,791 shares of the company’s stock worth $258,000 after acquiring an additional 297 shares during the last quarter. Keel Point LLC increased its position in shares of Toast by 2.7% in the fourth quarter. Keel Point LLC now owns 12,269 shares of the company’s stock valued at $447,000 after acquiring an additional 326 shares during the period. Piscataqua Savings Bank increased its position in shares of Toast by 57.1% in the first quarter. Piscataqua Savings Bank now owns 1,100 shares of the company’s stock valued at $36,000 after acquiring an additional 400 shares during the period. Finally, Legacy Advisors LLC raised its stake in shares of Toast by 1.7% during the first quarter. Legacy Advisors LLC now owns 26,318 shares of the company’s stock valued at $873,000 after acquiring an additional 438 shares during the last quarter. Institutional investors own 82.91% of the company’s stock.

Wall Street Analyst Weigh In

Several analysts recently issued reports on TOST shares. Deutsche Bank Aktiengesellschaft began coverage on Toast in a research note on Thursday, July 17th. They issued a “buy” rating and a $54.00 target price on the stock. Barclays reiterated an “overweight” rating on shares of Toast in a research report on Wednesday, July 16th. Jefferies Financial Group boosted their target price on Toast from $50.00 to $54.00 and gave the company a “buy” rating in a research note on Friday, July 18th. Piper Sandler raised their price target on Toast from $35.00 to $37.00 and gave the stock a “neutral” rating in a research note on Friday, May 9th. Finally, Needham & Company LLC lifted their price target on shares of Toast from $50.00 to $60.00 and gave the company a “buy” rating in a report on Wednesday, August 6th. Eleven research analysts have rated the stock with a hold rating and sixteen have issued a buy rating to the stock. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $45.54.

Insider Activity

In other Toast news, General Counsel Brian R. Elworthy sold 300,000 shares of Toast stock in a transaction dated Monday, June 2nd. The shares were sold at an average price of $42.60, for a total value of $12,780,000.00. Following the completion of the transaction, the general counsel directly owned 216,156 shares of the company’s stock, valued at approximately $9,208,245.60. The trade was a 58.12% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, Director Richard Kent Bennett sold 9,712 shares of the stock in a transaction that occurred on Tuesday, June 10th. The shares were sold at an average price of $43.14, for a total transaction of $418,975.68. Following the sale, the director owned 534,167 shares in the company, valued at approximately $23,043,964.38. The trade was a 1.79% decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders sold 404,054 shares of company stock valued at $17,300,366. 12.14% of the stock is currently owned by insiders.

Toast Stock Performance

TOST stock opened at $44.11 on Wednesday. The firm has a 50 day moving average price of $44.74 and a 200-day moving average price of $40.04. Toast, Inc. has a 52-week low of $22.91 and a 52-week high of $49.66. The firm has a market capitalization of $22.50 billion, a price-to-earnings ratio of 129.74 and a beta of 2.01.

Toast (NYSE:TOST) 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). Toast had a net margin of 4.07% and a return on equity of 14.19%. The company had revenue of $1.55 billion for the quarter, compared to the consensus estimate of $1.52 billion. During the same period last year, the business earned $0.02 EPS. The firm’s quarterly revenue was up 24.8% on a year-over-year basis. As a group, sell-side analysts forecast that Toast, Inc. will post 0.39 earnings per share for the current fiscal year.

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.