Empowered Funds LLC Has $8.56 Million Stake in Toast, Inc. (NYSE:TOST)

Empowered Funds LLC lifted its stake in Toast, Inc. (NYSE:TOST - Free Report) by 194.5% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 234,707 shares of the company's stock after acquiring an additional 155,013 shares during the quarter. Empowered Funds LLC's holdings in Toast were worth $8,555,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds and other institutional investors have also modified their holdings of the company. FMR LLC increased its position in Toast by 50.5% in the 3rd 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. ValueAct Holdings L.P. bought a new stake in shares of Toast in the 3rd quarter valued at approximately $438,301,000. State Street Corp increased its holdings in Toast by 2.5% in the third quarter. State Street Corp now owns 8,325,292 shares of the company's stock worth $235,689,000 after buying an additional 206,789 shares during the last quarter. Geode Capital Management LLC raised its position in Toast by 2.3% during the third quarter. Geode Capital Management LLC now owns 6,865,934 shares of the company's stock valued at $193,992,000 after acquiring an additional 155,212 shares in the last quarter. Finally, Assenagon Asset Management S.A. grew its position in Toast by 2,889.8% in the third quarter. Assenagon Asset Management S.A. now owns 3,829,995 shares of the company's stock worth $108,427,000 after acquiring an additional 3,701,893 shares in the last quarter. 82.91% of the stock is currently owned by hedge funds and other institutional investors.

Toast Stock Performance

Shares of TOST stock traded up $0.51 during trading hours on Thursday, hitting $40.26. The company had a trading volume of 4,773,278 shares, compared to its average volume of 5,131,265. Toast, Inc. has a 12 month low of $18.47 and a 12 month high of $44.12. The firm's fifty day moving average is $38.35 and its 200 day moving average is $32.77. The firm has a market capitalization of $18.96 billion, a price-to-earnings ratio of -309.68, a PEG ratio of 2.25 and a beta of 1.98.

Analysts Set New Price Targets

A number of equities research analysts recently issued reports on the stock. Piper Sandler upped their price objective on shares of Toast from $25.00 to $35.00 and gave the stock a "neutral" rating in a report on Monday, November 11th. Stephens upped their target price on Toast from $28.00 to $30.00 and gave the stock an "equal weight" rating in a research report on Friday, October 18th. Oppenheimer assumed coverage on shares of Toast in a report on Friday, January 24th. They set an "outperform" rating and a $46.00 price objective for the company. Wells Fargo & Company lifted their target price on shares of Toast from $25.00 to $30.00 and gave the stock an "underweight" rating in a report on Thursday, January 16th. Finally, Keefe, Bruyette & Woods raised their price target on Toast from $29.00 to $40.00 and gave the company a "market perform" rating in a research report on Monday, December 9th. One equities research analyst has rated the stock with a sell rating, twelve have given a hold rating and ten have assigned a buy rating to the stock. According to MarketBeat, Toast currently has an average rating of "Hold" and an average target price of $36.09.

Insider Buying and Selling at Toast

In other Toast news, General Counsel Brian R. Elworthy sold 653 shares of the business's stock in a transaction dated Tuesday, February 4th. The shares were sold at an average price of $39.63, for a total value of $25,878.39. Following the transaction, the general counsel now directly owns 209,206 shares in the company, valued at $8,290,833.78. The trade was a 0.31 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, President Stephen Fredette sold 1,068 shares of the firm's stock in a transaction that occurred on Tuesday, February 4th. The stock was sold at an average price of $39.63, for a total transaction of $42,324.84. Following the sale, the president now directly owns 1,644,656 shares of the company's stock, valued at approximately $65,177,717.28. The trade was a 0.06 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 362,449 shares of company stock worth $14,538,099 over the last three months. Company insiders own 13.32% of the company's stock.

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.