Rockefeller Capital Management L.P. Purchases 21,806 Shares of Toast, Inc. (NYSE:TOST)

Rockefeller Capital Management L.P. increased its position in Toast, Inc. (NYSE:TOST - Free Report) by 23.7% in the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 113,974 shares of the company's stock after acquiring an additional 21,806 shares during the quarter. Rockefeller Capital Management L.P.'s holdings in Toast were worth $3,227,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in TOST. West Branch Capital LLC bought a new stake in shares of Toast during the 2nd quarter valued at $26,000. Toth Financial Advisory Corp purchased a new stake in Toast in the 3rd quarter worth $28,000. 1620 Investment Advisors Inc. bought a new stake in Toast during the second quarter valued at about $34,000. Raleigh Capital Management Inc. lifted its position in shares of Toast by 93.4% in the third quarter. Raleigh Capital Management Inc. now owns 1,491 shares of the company's stock valued at $42,000 after acquiring an additional 720 shares in the last quarter. Finally, Farther Finance Advisors LLC lifted its position in shares of Toast by 32.3% in the third quarter. Farther Finance Advisors LLC now owns 2,033 shares of the company's stock valued at $58,000 after acquiring an additional 496 shares in the last quarter. Institutional investors own 82.91% of the company's stock.

Toast Price Performance

Shares of TOST traded up $0.77 during midday trading on Friday, hitting $38.80. The stock had a trading volume of 6,387,536 shares, compared to its average volume of 7,446,186. The stock's 50 day moving average is $34.32 and its 200 day moving average is $28.21. The firm has a market cap of $18.27 billion, a PE ratio of -298.42, a price-to-earnings-growth ratio of 54.06 and a beta of 1.93. Toast, Inc. has a 1 year low of $14.75 and a 1 year high of $44.12.

Analyst Ratings Changes

Several brokerages recently issued reports on TOST. Piper Sandler lifted their target price on Toast from $25.00 to $35.00 and gave the company a "neutral" rating in a research note on Monday, November 11th. Compass Point started coverage on shares of Toast in a research report on Wednesday, November 20th. They set a "buy" rating and a $49.00 price objective on the stock. BNP Paribas downgraded shares of Toast from an "outperform" rating to a "neutral" rating and set a $37.00 target price on the stock. in a report on Wednesday, November 20th. Bank of America raised 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. Finally, DA Davidson reiterated 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. One equities research analyst has rated the stock with a sell rating, twelve have assigned a hold rating and nine have given a buy rating to the company's stock. Based on data from MarketBeat, Toast presently has a consensus rating of "Hold" and a consensus price target of $34.14.

Insider Buying and Selling

In other news, General Counsel Brian R. Elworthy sold 300,000 shares of Toast stock in a transaction on Friday, October 18th. The stock was sold at an average price of $30.39, for a total transaction of $9,117,000.00. Following the completion of the sale, the general counsel now directly owns 177,836 shares in the company, valued at approximately $5,404,436.04. This trade represents a 62.78 % 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 this link. Also, President Stephen Fredette sold 101,574 shares of the company's stock in a transaction dated 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 owns 2,395,685 shares in the company, valued at approximately $61,640,975.05. The trade was a 4.07 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 1,688,321 shares of company stock valued at $52,160,120 in the last ninety days. 13.32% of the stock is owned by company insiders.

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.