Assenagon Asset Management S.A. Sells 3,588,968 Shares of Toast, Inc. (NYSE:TOST)

Assenagon Asset Management S.A. cut its stake in Toast, Inc. (NYSE:TOST - Free Report) by 93.7% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 241,027 shares of the company's stock after selling 3,588,968 shares during the quarter. Assenagon Asset Management S.A. owned about 0.05% of Toast worth $8,785,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently modified their holdings of the company. D.A. Davidson & CO. grew its holdings in Toast by 1.9% during the 3rd quarter. D.A. Davidson & CO. now owns 22,100 shares of the company's stock valued at $626,000 after purchasing an additional 409 shares in the last quarter. Northwestern Mutual Wealth Management Co. increased its stake in shares of Toast by 1.2% in the second quarter. Northwestern Mutual Wealth Management Co. now owns 35,968 shares of the company's stock worth $927,000 after buying an additional 421 shares during the last quarter. Private Advisor Group LLC raised its holdings in Toast by 1.6% in the third quarter. Private Advisor Group LLC now owns 28,151 shares of the company's stock valued at $797,000 after acquiring an additional 441 shares in the last quarter. CIBC Asset Management Inc boosted its stake in 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 acquiring an additional 448 shares during the last quarter. Finally, Farther Finance Advisors LLC grew its holdings in Toast by 32.3% during the 3rd quarter. Farther Finance Advisors LLC now owns 2,033 shares of the company's stock worth $58,000 after acquiring an additional 496 shares in the last quarter. Institutional investors and hedge funds own 82.91% of the company's stock.

Insiders Place Their Bets

In other news, CRO Jonathan Vassil sold 1,367 shares of Toast stock in a transaction dated Monday, November 4th. The stock was sold at an average price of $31.08, for a total value of $42,486.36. Following the transaction, the executive now directly owns 39,834 shares in the company, valued at approximately $1,238,040.72. The trade was a 3.32 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, Director Christopher P. Comparato sold 145,000 shares of the stock in a transaction that occurred on Thursday, December 19th. The shares were sold at an average price of $36.04, for a total value of $5,225,800.00. Following the sale, the director now owns 182,451 shares of the company's stock, valued at approximately $6,575,534.04. The trade was a 44.28 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 562,600 shares of company stock valued at $21,823,932 over the last 90 days. 13.32% of the stock is currently owned by company insiders.

Wall Street Analyst Weigh In

Several equities analysts recently issued reports on the company. Wedbush raised their price objective on Toast from $35.00 to $45.00 and gave the stock an "outperform" rating in a research note on Friday, November 8th. Stephens raised their target price on shares of Toast from $28.00 to $30.00 and gave the stock an "equal weight" rating in a report on Friday, October 18th. Compass Point initiated coverage on Toast in a report on Wednesday, November 20th. They issued a "buy" rating and a $49.00 price target on the stock. Robert W. Baird increased their target price on Toast from $30.00 to $38.00 and gave the stock a "neutral" rating in a research report on Friday, November 8th. Finally, Royal Bank of Canada boosted their price target on shares of Toast from $27.00 to $40.00 and gave the company a "sector perform" rating in a report on Friday, November 8th. One research analyst has rated the stock with a sell rating, twelve have given a hold rating and ten have given a buy rating to the company. According to data from MarketBeat.com, Toast has a consensus rating of "Hold" and an average price target of $35.27.

Toast Stock Up 2.4 %

Shares of TOST traded up $0.87 during mid-day trading on Monday, hitting $37.76. 4,470,806 shares of the company's stock were exchanged, compared to its average volume of 4,041,725. The stock has a market cap of $17.78 billion, a price-to-earnings ratio of -290.46, a P/E/G ratio of 1.83 and a beta of 1.97. Toast, Inc. has a twelve month low of $16.13 and a twelve month high of $44.12. The firm has a fifty day moving average of $38.91 and a two-hundred day moving average of $31.02.

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.