Quantbot Technologies LP Decreases Stake in Toast, Inc. (NYSE:TOST)

Quantbot Technologies LP cut its holdings in Toast, Inc. (NYSE:TOST - Free Report) by 97.4% during the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 2,169 shares of the company's stock after selling 82,377 shares during the period. Quantbot Technologies LP's holdings in Toast were worth $61,000 as of its most recent SEC filing.

Several other institutional investors have also added to or reduced their stakes in TOST. D.A. Davidson & CO. raised its position in shares of Toast by 1.9% during the 3rd quarter. D.A. Davidson & CO. now owns 22,100 shares of the company's stock valued at $626,000 after purchasing an additional 409 shares during the period. FMR LLC grew its stake in Toast by 50.5% during the third quarter. FMR LLC now owns 24,449,743 shares of the company's stock valued at $692,172,000 after acquiring an additional 8,205,053 shares in the last quarter. West Tower Group LLC purchased a new position in Toast during the third quarter valued at $198,000. Qsemble Capital Management LP grew its stake in Toast by 52.1% during the third quarter. Qsemble Capital Management LP now owns 67,796 shares of the company's stock valued at $1,919,000 after acquiring an additional 23,231 shares in the last quarter. Finally, Bank of Montreal Can grew its stake in Toast by 6.5% during the third quarter. Bank of Montreal Can now owns 65,607 shares of the company's stock valued at $1,837,000 after acquiring an additional 3,996 shares in the last quarter. 82.91% of the stock is currently owned by institutional investors.

Insider Buying and Selling

In other news, CEO Aman Narang sold 10,106 shares of the stock in a transaction that occurred 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 transaction, the chief executive officer now owns 968,095 shares in the company, valued at $26,883,998.15. This trade represents a 1.03 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, President Stephen Fredette sold 211,686 shares of the stock in a transaction that occurred on Tuesday, September 10th. The shares were sold at an average price of $23.57, for a total value of $4,989,439.02. Following the transaction, the president now owns 2,638,023 shares in the company, valued at $62,178,202.11. This trade represents a 7.43 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders have sold 1,688,321 shares of company stock worth $52,160,120. 13.32% of the stock is owned by company insiders.

Analyst Upgrades and Downgrades

Several research firms recently weighed in on TOST. Wedbush raised their target price on shares of Toast from $35.00 to $45.00 and gave the company an "outperform" rating in a research note on Friday, November 8th. Piper Sandler upped their price objective on Toast from $25.00 to $35.00 and gave the company a "neutral" rating in a research report on Monday, November 11th. Bank of America boosted their target price on shares of Toast from $26.00 to $28.00 and gave the company a "neutral" rating in a research note on Tuesday, September 17th. JPMorgan Chase & Co. upped their price objective on shares of Toast from $28.00 to $36.00 and gave the stock a "neutral" rating in a research note on Friday, November 8th. Finally, Morgan Stanley upped their price objective on shares of Toast from $30.00 to $33.00 and gave the stock an "overweight" rating in a research note on Tuesday, October 22nd. One research analyst has rated the stock with a sell rating, twelve have given a hold rating and nine have issued a buy rating to the company. Based on data from MarketBeat.com, the company has a consensus rating of "Hold" and a consensus price target of $34.14.

Toast Price Performance

NYSE:TOST traded up $0.79 during midday trading on Friday, hitting $38.81. The company's stock had a trading volume of 6,389,998 shares, compared to its average volume of 11,023,042. Toast, Inc. has a fifty-two week low of $14.75 and a fifty-two week high of $44.12. The firm's 50 day moving average is $34.32 and its 200-day moving average is $28.22. The firm has a market cap of $18.28 billion, a P/E ratio of -298.54, a P/E/G ratio of 48.60 and a beta of 1.93.

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.