JPMorgan Chase & Co. Sells 1,034,576 Shares of Toast, Inc. (NYSE:TOST)

JPMorgan Chase & Co. lowered its stake in shares of Toast, Inc. (NYSE:TOST - Free Report) by 18.2% during the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 4,656,760 shares of the company's stock after selling 1,034,576 shares during the quarter. JPMorgan Chase & Co. owned about 0.99% of Toast worth $131,833,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors also recently bought and sold shares of TOST. Synovus Financial Corp purchased a new stake in Toast in the third quarter worth about $425,000. Tidal Investments LLC grew its stake in shares of Toast by 5.4% in the 3rd quarter. Tidal Investments LLC now owns 14,310 shares of the company's stock worth $405,000 after buying an additional 734 shares during the last quarter. Wilmington Savings Fund Society FSB bought a new position in Toast during the 3rd quarter valued at approximately $59,000. Sanctuary Advisors LLC purchased a new position in Toast during the third quarter valued at $327,000. Finally, Toronto Dominion Bank boosted its holdings in Toast by 35.4% in the third quarter. Toronto Dominion Bank now owns 46,319 shares of the company's stock worth $1,311,000 after acquiring an additional 12,118 shares in the last quarter. 82.91% of the stock is owned by institutional investors.

Insider Buying and Selling at Toast

In related news, Director Christopher P. Comparato sold 145,000 shares of the stock in a transaction dated 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 completion of the transaction, the director now owns 182,451 shares of the company's stock, valued at approximately $6,575,534.04. This trade represents a 44.28 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CEO Aman Narang sold 1,646 shares of the business's stock in a transaction that occurred on Monday, November 4th. The stock was sold at an average price of $31.08, for a total value of $51,157.68. Following the sale, the chief executive officer now directly owns 969,970 shares in the company, valued at $30,146,667.60. The trade was a 0.17 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 1,149,075 shares of company stock worth $39,389,680 in the last quarter. 13.32% of the stock is owned by corporate insiders.

Toast Stock Down 0.2 %

NYSE TOST traded down $0.07 on Thursday, reaching $36.38. The company had a trading volume of 6,366,457 shares, compared to its average volume of 7,290,083. The firm's 50 day moving average price is $37.66 and its 200 day moving average price is $30.04. Toast, Inc. has a 12 month low of $16.13 and a 12 month high of $44.12. The stock has a market capitalization of $17.13 billion, a PE ratio of -279.85, a price-to-earnings-growth ratio of 23.40 and a beta of 1.93.

Analyst Ratings Changes

Several research firms have recently issued reports on TOST. JPMorgan Chase & Co. lifted their price target on Toast from $28.00 to $36.00 and gave the stock a "neutral" rating in a research report on Friday, November 8th. Robert W. Baird upped their target price on shares of Toast from $30.00 to $38.00 and gave the company a "neutral" rating in a research note on Friday, November 8th. Deutsche Bank Aktiengesellschaft increased their price target on Toast from $24.00 to $30.00 and gave the company a "hold" rating in a report on Monday, November 4th. Stephens lifted their price objective on Toast from $28.00 to $30.00 and gave the stock an "equal weight" rating in a report on Friday, October 18th. Finally, Compass Point started coverage on Toast in a research report on Wednesday, November 20th. They issued a "buy" rating and a $49.00 target price on the stock. One investment analyst has rated the stock with a sell rating, twelve have given a hold rating and nine have given a buy rating to the company's stock. According to data from MarketBeat, Toast has a consensus rating of "Hold" and a consensus target price of $34.81.

Toast 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.