HighTower Advisors LLC Sells 79,525 Shares of Toast, Inc. (NYSE:TOST)

HighTower Advisors LLC lowered its stake in shares of Toast, Inc. (NYSE:TOST - Free Report) by 29.1% during the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 194,223 shares of the company's stock after selling 79,525 shares during the period. HighTower Advisors LLC's holdings in Toast were worth $5,500,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors also recently modified their holdings of TOST. D.A. Davidson & CO. raised its stake in Toast by 1.9% during the 3rd quarter. D.A. Davidson & CO. now owns 22,100 shares of the company's stock worth $626,000 after buying an additional 409 shares during the period. Northwestern Mutual Wealth Management Co. raised its position in shares of Toast by 1.2% during the second quarter. Northwestern Mutual Wealth Management Co. now owns 35,968 shares of the company's stock worth $927,000 after purchasing an additional 421 shares during the period. Private Advisor Group LLC lifted its holdings in shares of Toast by 1.6% during the 3rd quarter. Private Advisor Group LLC now owns 28,151 shares of the company's stock valued at $797,000 after purchasing an additional 441 shares in the last quarter. CIBC Asset Management Inc grew its position in shares of Toast by 3.7% in the 3rd quarter. CIBC Asset Management Inc now owns 12,614 shares of the company's stock valued at $357,000 after purchasing an additional 448 shares during the period. Finally, Farther Finance Advisors LLC increased its stake 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 purchasing an additional 496 shares in the last quarter. 82.91% of the stock is currently owned by institutional investors and hedge funds.

Toast Price Performance

Toast stock traded up $0.14 during mid-day trading on Wednesday, hitting $38.41. 5,438,110 shares of the company's stock traded hands, compared to its average volume of 7,422,881. Toast, Inc. has a fifty-two week low of $15.15 and a fifty-two week high of $44.12. The stock has a market cap of $18.09 billion, a price-to-earnings ratio of -295.46, a P/E/G ratio of 23.81 and a beta of 1.92. The firm has a 50 day simple moving average of $34.94 and a two-hundred day simple moving average of $28.48.

Insider Transactions at Toast

In other Toast news, Director David Yuan sold 189,785 shares of the stock in a transaction on 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 transaction, the director now owns 198,829 shares in the company, valued at $8,551,635.29. This trade represents a 48.84 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, President Stephen Fredette sold 144,238 shares of the company's stock in a transaction dated Friday, September 20th. The shares were sold at an average price of $27.34, for a total transaction of $3,943,466.92. Following the completion of the transaction, the president now owns 2,160,499 shares in the company, valued at $59,068,042.66. This trade represents a 6.26 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders sold 1,476,635 shares of company stock worth $47,170,681. 13.32% of the stock is owned by insiders.

Analyst Ratings Changes

Several research analysts have recently weighed in on TOST shares. BNP Paribas cut shares of Toast from an "outperform" rating to a "neutral" rating and set a $37.00 price target for the company. in a report on Wednesday, November 20th. The Goldman Sachs Group reaffirmed a "neutral" rating and issued a $45.00 target price (up from $34.00) on shares of Toast in a research note on Monday, December 2nd. DA Davidson reissued a "neutral" rating and issued a $38.00 price target (down previously from $44.00) on shares of Toast in a research note on Thursday, December 5th. Robert W. Baird upped their price objective on Toast from $30.00 to $38.00 and gave the stock a "neutral" rating in a research report on Friday, November 8th. Finally, Wells Fargo & Company increased their price objective on Toast from $23.00 to $25.00 and gave the stock an "underweight" rating in a report on Friday, November 8th. One investment analyst has rated the stock with a sell rating, twelve have issued a hold rating and nine have assigned a buy rating to the stock. According to MarketBeat.com, Toast currently has a consensus rating of "Hold" and a consensus price target of $34.81.

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.