Romano Brothers AND Company Cuts Holdings in Toast, Inc. (NYSE:TOST)

Romano Brothers AND Company cut its stake in Toast, Inc. (NYSE:TOST - Free Report) by 28.4% in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 25,000 shares of the company's stock after selling 9,900 shares during the quarter. Romano Brothers AND Company's holdings in Toast were worth $911,000 at the end of the most recent reporting period.

A number of other large investors also recently bought and sold shares of the stock. ValueAct Holdings L.P. acquired a new stake in shares of Toast during the 3rd quarter valued at about $438,301,000. FMR LLC grew its holdings in Toast by 50.5% in the third quarter. FMR LLC now owns 24,449,743 shares of the company's stock valued at $692,172,000 after purchasing an additional 8,205,053 shares during the period. Assenagon Asset Management S.A. grew its holdings in Toast by 2,889.8% in the third quarter. Assenagon Asset Management S.A. now owns 3,829,995 shares of the company's stock valued at $108,427,000 after purchasing an additional 3,701,893 shares during the period. Marshall Wace LLP increased its position in shares of Toast by 175.8% in the second quarter. Marshall Wace LLP now owns 2,517,288 shares of the company's stock valued at $64,871,000 after buying an additional 1,604,716 shares in the last quarter. Finally, Worldquant Millennium Advisors LLC raised its stake in shares of Toast by 1,475.0% during the 3rd quarter. Worldquant Millennium Advisors LLC now owns 850,965 shares of the company's stock worth $24,091,000 after buying an additional 796,936 shares during the period. 82.91% of the stock is owned by institutional investors and hedge funds.

Insider Activity

In other news, CEO Aman Narang sold 1,646 shares of the company's stock in a transaction that occurred on Monday, November 4th. The shares were sold at an average price of $31.08, for a total value of $51,157.68. Following the transaction, the chief executive officer now directly owns 969,970 shares in the company, valued at approximately $30,146,667.60. This represents a 0.17 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, CRO Jonathan Vassil sold 1,367 shares of the stock in a transaction that occurred on Monday, November 4th. The stock was sold at an average price of $31.08, for a total transaction of $42,486.36. Following the transaction, the executive now directly owns 39,834 shares of the company's stock, valued at $1,238,040.72. The trade was a 3.32 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 562,600 shares of company stock valued at $21,823,932 in the last quarter. Insiders own 13.32% of the company's stock.

Wall Street Analyst Weigh In

A number of equities research analysts recently issued reports on the stock. JPMorgan Chase & Co. lifted their price target on shares of Toast from $28.00 to $36.00 and gave the company a "neutral" rating in a research note on Friday, November 8th. Royal Bank of Canada lifted their target price 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. Wedbush upped their price target on shares of Toast from $35.00 to $45.00 and gave the stock an "outperform" rating in a research report on Friday, November 8th. Morgan Stanley lifted their price objective on Toast from $30.00 to $33.00 and gave the stock an "overweight" rating in a report on Tuesday, October 22nd. Finally, Wells Fargo & Company increased their target price on Toast from $25.00 to $30.00 and gave the company an "underweight" rating in a report on Thursday. One analyst has rated the stock with a sell rating, twelve have issued a hold rating and ten have issued a buy rating to the company. According to data from MarketBeat, the stock presently has a consensus rating of "Hold" and an average target price of $35.27.

Toast Price Performance

TOST traded up $0.87 during trading hours on Friday, reaching $37.76. The company's stock had a trading volume of 4,470,806 shares, compared to its average volume of 4,041,725. The stock has a market cap of $17.78 billion, a PE ratio of -290.46, a P/E/G ratio of 1.83 and a beta of 1.97. Toast, Inc. has a fifty-two week low of $16.13 and a fifty-two week high of $44.12. The business's 50-day moving average is $38.91 and its 200-day moving average is $31.02.

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.