Allspring Global Investments Holdings LLC Has $75.47 Million Stake in Toast, Inc. (NYSE:TOST)

Allspring Global Investments Holdings LLC grew its stake in shares of Toast, Inc. (NYSE:TOST - Free Report) by 129,058.5% during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 2,074,286 shares of the company's stock after purchasing an additional 2,072,680 shares during the quarter. Allspring Global Investments Holdings LLC owned 0.44% of Toast worth $75,466,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors also recently modified their holdings of TOST. Makena Capital Management LLC grew its holdings in shares of Toast by 7.6% during the third quarter. Makena Capital Management LLC now owns 274,392 shares of the company's stock valued at $7,768,000 after purchasing an additional 19,371 shares during the last quarter. KBC Group NV grew its holdings in Toast by 66.5% in the 3rd quarter. KBC Group NV now owns 42,838 shares of the company's stock worth $1,213,000 after buying an additional 17,106 shares in the last quarter. Geode Capital Management LLC grew its holdings in Toast by 2.3% in the 3rd quarter. Geode Capital Management LLC now owns 6,865,934 shares of the company's stock worth $193,992,000 after buying an additional 155,212 shares in the last quarter. MML Investors Services LLC grew its holdings in Toast by 40.6% in the 3rd quarter. MML Investors Services LLC now owns 228,313 shares of the company's stock worth $6,464,000 after buying an additional 65,957 shares in the last quarter. Finally, Qsemble Capital Management LP grew its holdings in Toast by 52.1% in the 3rd quarter. Qsemble Capital Management LP now owns 67,796 shares of the company's stock worth $1,919,000 after buying an additional 23,231 shares in the last quarter. Institutional investors and hedge funds own 82.91% of the company's stock.

Insider Buying and Selling at Toast

In other news, Director David Yuan sold 189,785 shares of the company's stock in a transaction on Monday, November 25th. The shares were sold at an average price of $43.01, for a total value of $8,162,652.85. Following the transaction, the director now directly owns 198,829 shares of the company's stock, valued at approximately $8,551,635.29. This represents a 48.84 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, Director Richard Kent Bennett sold 22,885 shares of the company's stock in a transaction on Wednesday, November 20th. The stock was sold at an average price of $41.96, for a total transaction of $960,254.60. Following the completion of the transaction, the director now directly owns 395,706 shares in the company, valued at $16,603,823.76. This trade represents a 5.47 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 362,449 shares of company stock valued at $14,538,099 in the last three months. 13.32% of the stock is currently owned by company insiders.

Toast Trading Up 0.9 %

NYSE:TOST traded up $0.37 during trading hours on Friday, hitting $40.57. 8,107,949 shares of the stock traded hands, compared to its average volume of 4,935,838. The firm has a 50 day moving average price of $38.43 and a 200 day moving average price of $33.02. Toast, Inc. has a fifty-two week low of $18.47 and a fifty-two week high of $44.12. The firm has a market cap of $19.11 billion, a price-to-earnings ratio of -312.11, a PEG ratio of 2.25 and a beta of 1.98.

Wall Street Analyst Weigh In

A number of equities analysts recently issued reports on the company. Robert W. Baird increased their price objective on Toast from $30.00 to $38.00 and gave the stock a "neutral" rating in a report on Friday, November 8th. Morgan Stanley upped their target price on Toast from $30.00 to $33.00 and gave the stock an "overweight" rating in a research report on Tuesday, October 22nd. Wedbush upped their target price on Toast from $35.00 to $45.00 and gave the stock an "outperform" rating in a research report on Friday, November 8th. BMO Capital Markets initiated coverage on Toast in a research report on Monday, January 6th. They issued an "outperform" rating and a $45.00 target price for the company. Finally, Oppenheimer initiated coverage on Toast in a research report on Friday, January 24th. They issued an "outperform" rating and a $46.00 target price for the company. One analyst has rated the stock with a sell rating, twelve have given a hold rating and ten have issued a buy rating to the stock. Based on data from MarketBeat, the company has an average rating of "Hold" and a consensus target price of $36.09.

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.