FORA Capital LLC Invests $346,000 in Toast, Inc. (NYSE:TOST)

FORA Capital LLC purchased a new stake in Toast, Inc. (NYSE:TOST - Free Report) in the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm purchased 12,213 shares of the company's stock, valued at approximately $346,000.

Other large investors also recently modified their holdings of the company. Makena Capital Management LLC grew its stake 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 worth $7,768,000 after purchasing an additional 19,371 shares during the period. KBC Group NV lifted its position in shares of Toast by 66.5% during 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. Stephens Investment Management Group LLC grew its stake in Toast by 13.1% in the 3rd quarter. Stephens Investment Management Group LLC now owns 1,884,771 shares of the company's stock valued at $53,358,000 after buying an additional 218,959 shares in the last quarter. Qsemble Capital Management LP lifted its holdings in shares of Toast by 52.1% during the 3rd quarter. Qsemble Capital Management LP now owns 67,796 shares of the company's stock worth $1,919,000 after acquiring an additional 23,231 shares during the last quarter. Finally, Entropy Technologies LP bought a new position in shares of Toast during the third quarter valued at about $894,000. 82.91% of the stock is currently owned by hedge funds and other institutional investors.

Insider Transactions at Toast

In other news, President Stephen Fredette sold 101,574 shares of the company's stock in a transaction that occurred 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 ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO Aman Narang sold 10,106 shares of the company's stock in a transaction 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 completion of the sale, the chief executive officer now owns 968,095 shares of the company's stock, valued at $26,883,998.15. This represents a 1.03 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 1,688,321 shares of company stock valued at $52,160,120. 13.32% of the stock is currently owned by corporate insiders.

Analysts Set New Price Targets

Several research firms have commented on TOST. Royal Bank of Canada increased their price objective on shares of Toast from $27.00 to $40.00 and gave the company a "sector perform" rating in a research report on Friday, November 8th. Stephens lifted their target price on shares of Toast from $28.00 to $30.00 and gave the company an "equal weight" rating in a report on Friday, October 18th. Piper Sandler upped their price objective on shares of Toast from $25.00 to $35.00 and gave the company a "neutral" rating in a research note on Monday, November 11th. Wedbush boosted their price target on Toast from $35.00 to $45.00 and gave the company an "outperform" rating in a report on Friday, November 8th. Finally, Wells Fargo & Company upped their price target on Toast from $23.00 to $25.00 and gave the company an "underweight" rating in a research report on Friday, November 8th. One investment analyst has rated the stock with a sell rating, ten have given a hold rating and eleven have assigned a buy rating to the stock. According to MarketBeat, the stock has an average rating of "Hold" and a consensus target price of $33.86.

Toast Price Performance

TOST stock traded up $0.36 during trading hours on Friday, reaching $43.54. The stock had a trading volume of 2,298,247 shares, 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 stock has a market capitalization of $20.51 billion, a PE ratio of -334.92, a price-to-earnings-growth ratio of 55.03 and a beta of 1.74. The stock has a 50-day simple moving average of $33.09 and a 200 day simple moving average of $27.77.

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.