Diversified Trust Co Lowers Stock Position in Toast, Inc. (NYSE:TOST)

Diversified Trust Co cut its stake in shares of Toast, Inc. (NYSE:TOST - Free Report) by 41.5% in the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 21,368 shares of the company's stock after selling 15,150 shares during the quarter. Diversified Trust Co's holdings in Toast were worth $779,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors and hedge funds have also bought and sold shares of the company. FMR LLC raised its holdings in shares of Toast by 50.5% during the third quarter. FMR LLC now owns 24,449,743 shares of the company's stock valued at $692,172,000 after acquiring an additional 8,205,053 shares in the last quarter. ValueAct Holdings L.P. bought a new position in Toast in the 3rd quarter worth $438,301,000. State Street Corp lifted its position in shares of Toast by 2.5% in the 3rd quarter. State Street Corp now owns 8,325,292 shares of the company's stock worth $235,689,000 after purchasing an additional 206,789 shares during the period. Geode Capital Management LLC boosted its stake in shares of Toast by 2.3% during the 3rd quarter. Geode Capital Management LLC now owns 6,865,934 shares of the company's stock valued at $193,992,000 after purchasing an additional 155,212 shares in the last quarter. Finally, Assenagon Asset Management S.A. increased its position in shares of Toast by 2,889.8% during 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 buying an additional 3,701,893 shares during the period. 82.91% of the stock is currently owned by institutional investors.

Toast Price Performance

Toast stock traded down $1.49 during midday trading on Friday, reaching $35.72. 5,395,214 shares of the company traded hands, compared to its average volume of 4,803,302. Toast, Inc. has a 12 month low of $16.13 and a 12 month high of $44.12. The business has a 50 day moving average of $38.43 and a two-hundred day moving average of $30.50. The firm has a market capitalization of $16.82 billion, a price-to-earnings ratio of -274.77, a price-to-earnings-growth ratio of 23.40 and a beta of 1.97.

Analyst Ratings Changes

Several research firms have weighed in on TOST. Compass Point initiated coverage on Toast in a research report on Wednesday, November 20th. They set a "buy" rating and a $49.00 price objective on the stock. Royal Bank of Canada lifted their price target on Toast from $27.00 to $40.00 and gave the company a "sector perform" rating in a research report on Friday, November 8th. Deutsche Bank Aktiengesellschaft raised 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. Wells Fargo & Company upped their target price on shares of Toast from $23.00 to $25.00 and gave the stock an "underweight" rating in a research report on Friday, November 8th. Finally, The Goldman Sachs Group lowered their price target on shares of Toast from $45.00 to $40.00 and set a "neutral" rating for the company in a research report on Friday. One investment analyst has rated the stock with a sell rating, twelve have assigned a hold rating and ten have issued a buy rating to the company's stock. Based on data from MarketBeat.com, the company presently has a consensus rating of "Hold" and an average price target of $35.05.

Insider Buying and Selling at Toast

In other Toast news, General Counsel Brian R. Elworthy sold 300,000 shares of the company's stock in a transaction that occurred on Friday, October 18th. The shares were 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 of the company's stock, valued at approximately $5,404,436.04. This represents a 62.78 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, President Stephen Fredette sold 40,459 shares of the stock in a transaction that occurred on Wednesday, October 16th. The stock was sold at an average price of $29.04, for a total transaction of $1,174,929.36. Following the completion of the transaction, the president now owns 1,700,282 shares in the company, valued at $49,376,189.28. The trade was a 2.32 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 1,109,307 shares of company stock worth $38,235,613. Insiders own 13.32% of the company's stock.

About Toast

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.