Swiss National Bank Acquires 40,600 Shares of Toast, Inc. (NYSE:TOST)

Swiss National Bank grew its stake in Toast, Inc. (NYSE:TOST - Free Report) by 3.9% during the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 1,075,600 shares of the company's stock after purchasing an additional 40,600 shares during the period. Swiss National Bank owned approximately 0.23% of Toast worth $30,450,000 as of its most recent filing with the Securities and Exchange Commission.

Other large investors also recently modified their holdings of the company. KBC Group NV grew its position in Toast by 66.5% during the 3rd quarter. KBC Group NV now owns 42,838 shares of the company's stock worth $1,213,000 after acquiring an additional 17,106 shares during the last quarter. Stephens Investment Management Group LLC grew its position in Toast by 13.1% during the 3rd quarter. Stephens Investment Management Group LLC now owns 1,884,771 shares of the company's stock worth $53,358,000 after acquiring an additional 218,959 shares during the last quarter. Entropy Technologies LP bought a new position in Toast in the 3rd quarter valued at $894,000. QRG Capital Management Inc. boosted its position in Toast by 39.7% in the 2nd quarter. QRG Capital Management Inc. now owns 84,967 shares of the company's stock valued at $2,190,000 after buying an additional 24,164 shares during the last quarter. Finally, Epoch Investment Partners Inc. bought a new position in Toast in the 1st quarter valued at $633,000. 82.91% of the stock is currently owned by institutional investors.

Toast Price Performance

NYSE TOST traded down $0.17 during trading on Thursday, reaching $42.33. 4,238,114 shares of the company's stock were exchanged, compared to its average volume of 7,332,345. The business has a 50 day moving average price of $30.45 and a 200-day moving average price of $26.83. Toast, Inc. has a fifty-two week low of $13.77 and a fifty-two week high of $42.85.

Wall Street Analyst Weigh In

A number of brokerages have commented on TOST. Deutsche Bank Aktiengesellschaft increased their price objective on Toast from $24.00 to $30.00 and gave the company a "hold" rating in a research report on Monday, November 4th. BNP Paribas lowered Toast from an "outperform" rating to a "neutral" rating and set a $37.00 price objective on the stock. in a research report on Wednesday. Stephens increased their price objective on Toast from $28.00 to $30.00 and gave the company an "equal weight" rating in a research report on Friday, October 18th. Needham & Company LLC restated a "buy" rating and issued a $30.00 price target on shares of Toast in a research report on Wednesday, August 7th. Finally, Wells Fargo & Company raised their price target on Toast from $23.00 to $25.00 and gave the stock an "underweight" rating in a research report on Friday, November 8th. One investment analyst has rated the stock with a sell rating, ten have assigned a hold rating and eleven have issued a buy rating to the stock. According to data from MarketBeat.com, the stock has a consensus rating of "Hold" and an average target price of $33.86.

Insiders Place Their Bets

In other news, President Stephen Fredette sold 211,686 shares of the company's stock in a transaction that occurred on Tuesday, September 10th. The stock was 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 of the company's stock, valued at approximately $62,178,202.11. This represents a 7.43 % 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, General Counsel Brian R. Elworthy sold 2,878 shares of the business's stock in a transaction that occurred on Wednesday, October 2nd. The shares were sold at an average price of $27.77, for a total value of $79,922.06. Following the completion of the sale, the general counsel now owns 177,836 shares of the company's stock, valued at approximately $4,938,505.72. This trade represents a 1.59 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 1,475,651 shares of company stock valued at $43,037,212 over the last 90 days. 13.32% of the stock is currently owned by insiders.

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.