Makena Capital Management LLC Acquires 19,371 Shares of Toast, Inc. (NYSE:TOST)

Makena Capital Management LLC increased its stake in shares of Toast, Inc. (NYSE:TOST - Free Report) by 7.6% in the 3rd quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 274,392 shares of the company's stock after purchasing an additional 19,371 shares during the quarter. Makena Capital Management LLC owned approximately 0.06% of Toast worth $7,768,000 as of its most recent filing with the SEC.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in TOST. KBC Group NV raised its stake in shares of 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 purchasing an additional 17,106 shares in the last quarter. Stephens Investment Management Group LLC raised its position in Toast by 13.1% during the third quarter. Stephens Investment Management Group LLC now owns 1,884,771 shares of the company's stock valued at $53,358,000 after acquiring an additional 218,959 shares in the last quarter. Entropy Technologies LP acquired a new stake in Toast in the third quarter valued at approximately $894,000. QRG Capital Management Inc. grew its position in Toast by 39.7% in the second quarter. QRG Capital Management Inc. now owns 84,967 shares of the company's stock worth $2,190,000 after acquiring an additional 24,164 shares in the last quarter. Finally, Epoch Investment Partners Inc. acquired a new position in shares of Toast during the 1st quarter worth $633,000. 82.91% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several equities research analysts recently issued reports on the stock. DA Davidson lifted their price objective on shares of Toast from $35.00 to $44.00 and gave the company a "buy" rating in a research note on Tuesday, November 12th. BNP Paribas cut Toast from an "outperform" rating to a "neutral" rating and set a $37.00 price target for the company. in a research report on Wednesday. Morgan Stanley upped their price target on Toast from $30.00 to $33.00 and gave the stock an "overweight" rating in a research note on Tuesday, October 22nd. Needham & Company LLC restated a "buy" rating and issued a $30.00 target price on shares of Toast in a report on Wednesday, August 7th. Finally, Wedbush upped their target price on Toast from $35.00 to $45.00 and gave the stock an "outperform" rating in a research report on Friday, November 8th. One research analyst has rated the stock with a sell rating, ten have given a hold rating and eleven have given a buy rating to the company's stock. According to data from MarketBeat.com, Toast presently has a consensus rating of "Hold" and an average price target of $33.86.

Toast Stock Performance

Shares of TOST stock traded down $0.14 during mid-day trading on Thursday, reaching $42.36. The company's stock had a trading volume of 15,690,756 shares, compared to its average volume of 7,383,020. The firm's 50-day moving average is $30.80 and its two-hundred day moving average is $26.94. The company has a market cap of $19.95 billion, a P/E ratio of -331.62, a PEG ratio of 54.16 and a beta of 1.74. Toast, Inc. has a 1-year low of $13.77 and a 1-year high of $43.29.

Insiders Place Their Bets

In other Toast news, President Stephen Fredette sold 211,686 shares of the stock in a transaction on Tuesday, September 10th. The stock was sold at an average price of $23.57, for a total transaction of $4,989,439.02. Following the completion of the transaction, the president now directly owns 2,638,023 shares in the company, valued at $62,178,202.11. This represents a 7.43 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, Director Richard Kent Bennett sold 100,000 shares of the business's stock in a transaction on Tuesday, November 12th. The shares were sold at an average price of $36.67, for a total transaction of $3,667,000.00. Following the completion of the sale, the director now owns 418,591 shares in the company, valued at $15,349,731.97. This represents a 19.28 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 1,475,651 shares of company stock worth $43,037,212 over the last quarter. Company insiders own 13.32% of the company's stock.

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.