Victory Capital Management Inc. boosted its stake in Toast, Inc. (NYSE:TOST – Free Report) by 1.3% during the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 49,663 shares of the company’s stock after acquiring an additional 661 shares during the quarter. Victory Capital Management Inc.’s holdings in Toast were worth $1,406,000 as of its most recent SEC filing.
Other institutional investors and hedge funds also recently modified their holdings of the company. Stephens Investment Management Group LLC raised its stake in shares of Toast by 13.1% during the 3rd quarter. Stephens Investment Management Group LLC now owns 1,884,771 shares of the company’s stock worth $53,358,000 after purchasing an additional 218,959 shares in the last quarter. Entropy Technologies LP acquired a new stake in shares of Toast during the third quarter worth $894,000. QRG Capital Management Inc. boosted its holdings in Toast by 39.7% in the 2nd quarter. QRG Capital Management Inc. now owns 84,967 shares of the company’s stock valued at $2,190,000 after purchasing an additional 24,164 shares during the period. Harbor Capital Advisors Inc. boosted its stake in shares of Toast by 29.3% in the third quarter. Harbor Capital Advisors Inc. now owns 103,110 shares of the company’s stock valued at $2,919,000 after buying an additional 23,345 shares during the period. Finally, International Assets Investment Management LLC grew its holdings in shares of Toast by 2,731.0% during the 3rd quarter. International Assets Investment Management LLC now owns 95,971 shares of the company’s stock worth $2,717,000 after purchasing an additional 92,581 shares in the last quarter. 82.91% of the stock is owned by institutional investors and hedge funds.
Wall Street Analysts Forecast Growth
A number of research analysts recently issued reports on the stock. Robert W. Baird lifted their price objective on shares of Toast from $30.00 to $38.00 and gave the company a “neutral” rating in a research note on Friday, November 8th. BNP Paribas downgraded Toast from an “outperform” rating to a “neutral” rating and set a $37.00 price objective for the company. in a report on Wednesday, November 20th. Piper Sandler raised their price target on shares of Toast from $25.00 to $35.00 and gave the stock a “neutral” rating in a report on Monday, November 11th. Bank of America boosted their price objective on Toast from $26.00 to $28.00 and gave the company a “neutral” rating in a research note on Tuesday, September 17th. Finally, Morgan Stanley increased their target price on shares of Toast from $30.00 to $33.00 and gave the stock an “overweight” rating in a research note on Tuesday, October 22nd. One equities research analyst has rated the stock with a sell rating, ten have assigned a hold rating and eleven have issued a buy rating to the stock. According to data from MarketBeat.com, Toast presently has an average rating of “Hold” and an average price target of $33.86.
Insider Buying and Selling
In other news, General Counsel Brian R. Elworthy sold 300,000 shares of Toast stock in a transaction dated Friday, October 18th. The shares were sold at an average price of $30.39, for a total value of $9,117,000.00. Following the completion of the transaction, the general counsel now owns 177,836 shares in the company, valued at $5,404,436.04. This trade represents a 62.78 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Richard Kent Bennett sold 22,885 shares of the stock in a transaction on Wednesday, November 20th. The stock was sold at an average price of $41.96, for a total value of $960,254.60. Following the sale, the director now owns 395,706 shares in the company, valued at approximately $16,603,823.76. This represents a 5.47 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 1,498,536 shares of company stock worth $43,997,467. Insiders own 13.32% of the company’s stock.
Toast Price Performance
Shares of NYSE:TOST opened at $43.00 on Tuesday. The business has a fifty day moving average price of $31.45 and a two-hundred day moving average price of $27.21. The company has a market capitalization of $20.25 billion, a PE ratio of -332.38, a price-to-earnings-growth ratio of 54.47 and a beta of 1.74. Toast, Inc. has a 1 year low of $14.00 and a 1 year high of $43.62.
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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