Zacks Investment Management Raises Position in Toast, Inc. (NYSE:TOST)

Zacks Investment Management increased its position in Toast, Inc. (NYSE:TOST) by 14.2% in the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 338,017 shares of the company’s stock after purchasing an additional 42,100 shares during the quarter. Zacks Investment Management’s holdings in Toast were worth $9,569,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors and hedge funds have also made changes to their positions in the company. D.A. Davidson & CO. lifted its holdings in Toast by 1.9% in the 3rd quarter. D.A. Davidson & CO. now owns 22,100 shares of the company’s stock worth $626,000 after buying an additional 409 shares in the last quarter. Northwestern Mutual Wealth Management Co. raised its position in shares of Toast by 1.2% in the 2nd quarter. Northwestern Mutual Wealth Management Co. now owns 35,968 shares of the company’s stock valued at $927,000 after purchasing an additional 421 shares in the last quarter. Private Advisor Group LLC raised its position in shares of Toast by 1.6% in the 3rd quarter. Private Advisor Group LLC now owns 28,151 shares of the company’s stock valued at $797,000 after purchasing an additional 441 shares in the last quarter. CIBC Asset Management Inc boosted its stake in shares of Toast by 3.7% during the 3rd quarter. CIBC Asset Management Inc now owns 12,614 shares of the company’s stock valued at $357,000 after buying an additional 448 shares during the last quarter. Finally, Farther Finance Advisors LLC grew its position in shares of Toast by 32.3% during the third quarter. Farther Finance Advisors LLC now owns 2,033 shares of the company’s stock worth $58,000 after buying an additional 496 shares in the last quarter. 82.91% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

TOST has been the topic of several recent analyst reports. Bank of America upped their price target on shares of Toast from $26.00 to $28.00 and gave the company a “neutral” rating in a report on Tuesday, September 17th. DA Davidson restated a “neutral” rating and set a $38.00 price objective (down from $44.00) on shares of Toast in a research note on Thursday. Royal Bank of Canada increased their target price on shares of Toast from $27.00 to $40.00 and gave the stock a “sector perform” rating in a report on Friday, November 8th. Deutsche Bank Aktiengesellschaft raised their price target on shares of Toast from $24.00 to $30.00 and gave the stock a “hold” rating in a research report on Monday, November 4th. Finally, BNP Paribas downgraded shares of Toast from an “outperform” rating to a “neutral” rating and set a $37.00 price objective for the company. in a research report on Wednesday, November 20th. One analyst has rated the stock with a sell rating, twelve have given a hold rating and nine have given a buy rating to the stock. According to MarketBeat.com, the stock has a consensus rating of “Hold” and an average target price of $34.14.

Toast Price Performance

Shares of NYSE:TOST opened at $38.81 on Friday. The stock has a market cap of $18.28 billion, a price-to-earnings ratio of -298.54, a PEG ratio of 48.60 and a beta of 1.93. Toast, Inc. has a 12 month low of $14.75 and a 12 month high of $44.12. The stock’s 50 day moving average price is $34.32 and its 200 day moving average price is $28.22.

Insider Activity

In other news, President Stephen Fredette sold 211,686 shares of the firm’s stock in a transaction dated Tuesday, September 10th. The shares were sold at an average price of $23.57, for a total transaction of $4,989,439.02. Following the completion of the transaction, the president now owns 2,638,023 shares in the company, valued at approximately $62,178,202.11. This trade represents a 7.43 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. Also, CEO Aman Narang sold 10,106 shares of Toast stock in a transaction that occurred on Wednesday, October 2nd. The stock was sold at an average price of $27.77, for a total transaction of $280,643.62. Following the completion of the transaction, the chief executive officer now directly owns 968,095 shares in the company, valued at $26,883,998.15. This represents a 1.03 % decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 1,688,321 shares of company stock worth $52,160,120. 13.32% of the stock is owned by company insiders.

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.