Toast, Inc. (NYSE:TOST) Shares Bought by State Street Corp

State Street Corp lifted its position in Toast, Inc. (NYSE:TOST - Free Report) by 2.5% in the third quarter, according to its most recent Form 13F filing with the SEC. The firm owned 8,325,292 shares of the company's stock after purchasing an additional 206,789 shares during the period. State Street Corp owned 1.77% of Toast worth $235,689,000 at the end of the most recent quarter.

A number of other large investors have also recently modified their holdings of TOST. D.A. Davidson & CO. raised its position in shares of Toast by 1.9% in the 3rd quarter. D.A. Davidson & CO. now owns 22,100 shares of the company's stock worth $626,000 after acquiring an additional 409 shares in the last quarter. Northwestern Mutual Wealth Management Co. raised its holdings in Toast by 1.2% in 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 in the last quarter. Private Advisor Group LLC lifted its position in shares of Toast by 1.6% during the third quarter. Private Advisor Group LLC now owns 28,151 shares of the company's stock valued at $797,000 after buying an additional 441 shares during the last quarter. CIBC Asset Management Inc boosted its holdings 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 buying an additional 448 shares in the last quarter. Finally, Farther Finance Advisors LLC grew its position in shares of Toast by 32.3% in the 3rd quarter. Farther Finance Advisors LLC now owns 2,033 shares of the company's stock worth $58,000 after buying an additional 496 shares during the last quarter. Hedge funds and other institutional investors own 82.91% of the company's stock.

Insiders Place Their Bets

In other news, Director David Yuan sold 189,785 shares of Toast stock in a transaction that occurred on Monday, November 25th. The shares were sold at an average price of $43.01, for a total transaction of $8,162,652.85. Following the sale, the director now owns 198,829 shares of the company's stock, valued at approximately $8,551,635.29. The trade was a 48.84 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, President Stephen Fredette sold 8,057 shares of the company's stock in a transaction that occurred on Monday, September 23rd. The shares were sold at an average price of $28.02, for a total value of $225,757.14. Following the completion of the transaction, the president now owns 2,152,442 shares in the company, valued at $60,311,424.84. This represents a 0.37 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 1,375,061 shares of company stock valued at $44,557,182 in the last ninety days. 13.32% of the stock is currently owned by corporate insiders.

Toast Stock Performance

Shares of NYSE:TOST traded up $1.19 during midday trading on Thursday, hitting $39.60. The company's stock had a trading volume of 5,623,968 shares, compared to its average volume of 7,415,387. The company has a market cap of $18.65 billion, a P/E ratio of -304.62, a price-to-earnings-growth ratio of 23.81 and a beta of 1.92. Toast, Inc. has a 12-month low of $15.17 and a 12-month high of $44.12. The business's 50 day simple moving average is $35.17 and its 200 day simple moving average is $28.56.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently commented on TOST shares. Bank of America increased their target price on shares of Toast from $26.00 to $28.00 and gave the company a "neutral" rating in a research report on Tuesday, September 17th. Wedbush increased their price objective on Toast from $35.00 to $45.00 and gave the company an "outperform" rating in a report on Friday, November 8th. The Goldman Sachs Group restated a "neutral" rating and set a $45.00 target price (up from $34.00) on shares of Toast in a research note on Monday, December 2nd. Deutsche Bank Aktiengesellschaft increased their price target on Toast from $24.00 to $30.00 and gave the company a "hold" rating in a research note on Monday, November 4th. Finally, DA Davidson restated a "neutral" rating and set a $38.00 price target (down previously from $44.00) on shares of Toast in a research note on Thursday, December 5th. One research analyst has rated the stock with a sell rating, twelve have assigned a hold rating and nine have issued a buy rating to the stock. According to data from MarketBeat, the stock currently has an average rating of "Hold" and a consensus price target of $34.81.

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.