Citigroup Inc. Acquires 21,675 Shares of Toast, Inc. (NYSE:TOST)

Citigroup Inc. increased its holdings in Toast, Inc. (NYSE:TOST - Free Report) by 8.5% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 276,974 shares of the company's stock after acquiring an additional 21,675 shares during the period. Citigroup Inc. owned about 0.06% of Toast worth $7,841,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently made changes to their positions in TOST. LRI Investments LLC bought a new stake in Toast in the first quarter worth approximately $27,000. West Branch Capital LLC bought a new stake in Toast in the second quarter worth $26,000. Toth Financial Advisory Corp acquired a new position in Toast during the third quarter worth $28,000. Thurston Springer Miller Herd & Titak Inc. bought a new position in Toast during the second quarter valued at about $33,000. Finally, 1620 Investment Advisors Inc. bought a new position in shares of Toast in the 2nd quarter valued at approximately $34,000. 82.91% of the stock is owned by hedge funds and other institutional investors.

Insider Transactions at Toast

In other Toast news, Director David Yuan sold 189,785 shares of the stock in a transaction dated Monday, November 25th. The stock was sold at an average price of $43.01, for a total transaction of $8,162,652.85. Following the completion of the transaction, the director now owns 198,829 shares in the company, valued at approximately $8,551,635.29. This represents a 48.84 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, President Stephen Fredette sold 101,574 shares of the business's stock in a transaction dated Thursday, September 12th. The shares were sold at an average price of $25.73, for a total value of $2,613,499.02. Following the completion of the sale, the president now owns 2,395,685 shares in the company, valued at approximately $61,640,975.05. This trade represents a 4.07 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 1,688,321 shares of company stock valued at $52,160,120 over the last 90 days. 13.32% of the stock is owned by company insiders.

Analyst Upgrades and Downgrades

TOST has been the subject of a number of research analyst reports. Bank of America boosted their target price on shares of Toast from $26.00 to $28.00 and gave the stock a "neutral" rating in a research report on Tuesday, September 17th. Wells Fargo & Company raised their target price on Toast from $23.00 to $25.00 and gave the stock an "underweight" rating in a research report on Friday, November 8th. Piper Sandler lifted their price objective on Toast from $25.00 to $35.00 and gave the company a "neutral" rating in a report on Monday, November 11th. Morgan Stanley upped their target price on shares of Toast from $30.00 to $33.00 and gave the stock an "overweight" rating in a report on Tuesday, October 22nd. Finally, Deutsche Bank Aktiengesellschaft lifted their price target on shares of Toast from $24.00 to $30.00 and gave the company a "hold" rating in a report on Monday, November 4th. One analyst has rated the stock with a sell rating, ten have given a hold rating and eleven have issued a buy rating to the company's stock. According to MarketBeat, the stock has a consensus rating of "Hold" and a consensus target price of $33.86.

Toast Stock Up 0.8 %

Toast stock traded up $0.36 during mid-day trading on Friday, hitting $43.54. 2,298,247 shares of the company's stock were exchanged, compared to its average volume of 7,393,077. Toast, Inc. has a fifty-two week low of $14.45 and a fifty-two week high of $44.12. The firm has a market capitalization of $20.51 billion, a P/E ratio of -334.92, a PEG ratio of 55.03 and a beta of 1.74. The company's 50 day simple moving average is $33.09 and its 200-day simple moving average is $27.77.

About Toast

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.