Edgestream Partners L.P. Makes New $2.35 Million Investment in Toast, Inc. (NYSE:TOST)

Edgestream Partners L.P. purchased a new position in shares of Toast, Inc. (NYSE:TOST - Free Report) in the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor purchased 82,918 shares of the company's stock, valued at approximately $2,347,000.

Other hedge funds and other institutional investors also recently bought and sold shares of the company. FMR LLC raised its stake in shares of Toast by 50.5% during the third quarter. FMR LLC now owns 24,449,743 shares of the company's stock worth $692,172,000 after purchasing an additional 8,205,053 shares during the last quarter. Assenagon Asset Management S.A. raised its position in Toast by 2,889.8% during the 3rd quarter. Assenagon Asset Management S.A. now owns 3,829,995 shares of the company's stock worth $108,427,000 after buying an additional 3,701,893 shares during the last quarter. Charles Schwab Investment Management Inc. lifted its stake in shares of Toast by 4.3% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 2,783,041 shares of the company's stock worth $78,788,000 after acquiring an additional 113,995 shares during the period. Marshall Wace LLP boosted its holdings in shares of Toast by 175.8% in the second quarter. Marshall Wace LLP now owns 2,517,288 shares of the company's stock valued at $64,871,000 after acquiring an additional 1,604,716 shares in the last quarter. Finally, Bank of New York Mellon Corp increased its stake in shares of Toast by 22.2% during the second quarter. Bank of New York Mellon Corp now owns 2,236,203 shares of the company's stock worth $57,627,000 after acquiring an additional 406,686 shares during the period. 82.91% of the stock is owned by hedge funds and other institutional investors.

Toast Stock Up 0.1 %

Shares of NYSE TOST traded up $0.06 during trading on Tuesday, reaching $42.43. 5,695,280 shares of the stock were exchanged, compared to its average volume of 7,384,674. The company has a market capitalization of $19.98 billion, a price-to-earnings ratio of -326.38, a price-to-earnings-growth ratio of 53.99 and a beta of 1.93. The business's 50-day moving average price is $33.67 and its 200 day moving average price is $27.99. Toast, Inc. has a twelve month low of $14.45 and a twelve month high of $44.12.

Insider Buying and Selling

In related news, CEO Aman Narang sold 10,106 shares of the company's 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 sale, the chief executive officer now directly owns 968,095 shares of the company's stock, valued at approximately $26,883,998.15. This represents a 1.03 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, President Stephen Fredette sold 101,574 shares of Toast stock in a transaction on Thursday, September 12th. The stock was sold at an average price of $25.73, for a total transaction of $2,613,499.02. Following the completion of the transaction, the president now directly owns 2,395,685 shares of the company's stock, valued at approximately $61,640,975.05. This represents a 4.07 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders sold 1,688,321 shares of company stock worth $52,160,120. Insiders own 13.32% of the company's stock.

Analyst Upgrades and Downgrades

TOST has been the topic of several recent analyst reports. DA Davidson boosted their target price on Toast from $35.00 to $44.00 and gave the stock a "buy" rating in a research report on Tuesday, November 12th. BNP Paribas cut Toast from an "outperform" rating to a "neutral" rating and set a $37.00 price target for the company. in a research report on Wednesday, November 20th. Needham & Company LLC reaffirmed a "buy" rating and set a $30.00 price target on shares of Toast in a research note on Wednesday, August 7th. Stephens increased their price objective on shares of Toast from $28.00 to $30.00 and gave the company an "equal weight" rating in a research note on Friday, October 18th. Finally, Deutsche Bank Aktiengesellschaft lifted their target price 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. One analyst has rated the stock with a sell rating, eleven have issued a hold rating and ten have issued a buy rating to the stock. According to data from MarketBeat.com, the stock currently has a consensus rating of "Hold" and a consensus target price of $34.43.

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.