Cerity Partners LLC Buys 23,955 Shares of Toast, Inc. (NYSE:TOST)

Cerity Partners LLC grew its stake in shares of Toast, Inc. (NYSE:TOST - Free Report) by 50.4% in the third quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 71,526 shares of the company's stock after purchasing an additional 23,955 shares during the quarter. Cerity Partners LLC's holdings in Toast were worth $2,025,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently made changes to their positions in TOST. Tidal Investments LLC purchased a new position in Toast during the 1st quarter valued at about $244,000. Comerica Bank raised its holdings in shares of Toast by 10.9% during the first quarter. Comerica Bank now owns 6,167 shares of the company's stock valued at $154,000 after acquiring an additional 607 shares in the last quarter. DekaBank Deutsche Girozentrale lifted its stake in Toast by 33.4% in the first quarter. DekaBank Deutsche Girozentrale now owns 36,483 shares of the company's stock worth $880,000 after acquiring an additional 9,140 shares during the period. DNB Asset Management AS boosted its holdings in Toast by 21.6% in the second quarter. DNB Asset Management AS now owns 56,818 shares of the company's stock valued at $1,464,000 after acquiring an additional 10,097 shares in the last quarter. Finally, Thurston Springer Miller Herd & Titak Inc. bought a new position in Toast in the 2nd quarter worth $33,000. Institutional investors own 82.91% of the company's stock.

Insider Buying and Selling

In other news, President Stephen Fredette sold 211,686 shares of the stock in a transaction that occurred on Tuesday, September 10th. The shares were 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 in the company, valued at $62,178,202.11. This represents a 7.43 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, CFO Elena Gomez sold 12,500 shares of the firm's stock in a transaction that occurred on Tuesday, October 1st. The stock was sold at an average price of $28.41, for a total transaction of $355,125.00. Following the completion of the transaction, the chief financial officer now directly owns 207,518 shares in the company, valued at approximately $5,895,586.38. The trade was a 5.68 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 1,688,321 shares of company stock worth $52,160,120. 13.32% of the stock is owned by insiders.

Analysts Set New Price Targets

Several equities analysts recently issued reports on the stock. Piper Sandler boosted their price target on shares of Toast from $25.00 to $35.00 and gave the company a "neutral" rating in a research report on Monday, November 11th. Deutsche Bank Aktiengesellschaft increased their target price on Toast from $24.00 to $30.00 and gave the stock a "hold" rating in a research report on Monday, November 4th. BNP Paribas cut Toast from an "outperform" rating to a "neutral" rating and set a $37.00 price target on the stock. in a research note on Wednesday, November 20th. Royal Bank of Canada raised their price objective on Toast from $27.00 to $40.00 and gave the company a "sector perform" rating in a research report on Friday, November 8th. Finally, Morgan Stanley upped their target price on shares of Toast from $30.00 to $33.00 and gave the stock an "overweight" rating in a research report on Tuesday, October 22nd. One research analyst has rated the stock with a sell rating, eleven have given a hold rating and ten have given a buy rating to the stock. According to MarketBeat.com, the company currently has an average rating of "Hold" and an average price target of $34.43.

Toast Stock Performance

Shares of TOST stock traded down $1.18 during trading hours on Monday, reaching $42.36. The company had a trading volume of 7,131,908 shares, compared to its average volume of 7,391,949. The business has a fifty day moving average price of $33.38 and a 200-day moving average price of $27.88. Toast, Inc. has a one year low of $14.45 and a one year high of $44.12. The firm has a market cap of $19.95 billion, a PE ratio of -325.85, a price-to-earnings-growth ratio of 55.49 and a beta of 1.74.

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.