Zacks Investment Management Has $9.57 Million Position in Toast, Inc. (NYSE:TOST)

Zacks Investment Management raised its stake in Toast, Inc. (NYSE:TOST - Free Report) by 14.2% in the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 338,017 shares of the company's stock after buying an additional 42,100 shares during the period. Zacks Investment Management owned approximately 0.07% of Toast worth $9,569,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently modified their holdings of the stock. iA Global Asset Management Inc. purchased a new position in Toast during the 3rd quarter valued at about $332,000. Worldquant Millennium Advisors LLC grew its stake in shares of Toast by 1,475.0% in the third quarter. Worldquant Millennium Advisors LLC now owns 850,965 shares of the company's stock valued at $24,091,000 after buying an additional 796,936 shares in the last quarter. Wallace Capital Management Inc. purchased a new stake in shares of Toast during the 3rd quarter valued at about $201,000. State Street Corp raised its holdings in shares of Toast by 2.5% during the 3rd quarter. State Street Corp now owns 8,325,292 shares of the company's stock valued at $235,689,000 after buying an additional 206,789 shares during the period. Finally, Motley Fool Asset Management LLC lifted its position in Toast by 0.4% during the 3rd quarter. Motley Fool Asset Management LLC now owns 389,456 shares of the company's stock worth $11,123,000 after acquiring an additional 1,630 shares in the last quarter. 82.91% of the stock is currently owned by institutional investors and hedge funds.

Toast Price Performance

Shares of Toast stock traded up $0.79 on Friday, hitting $38.81. The company had a trading volume of 6,389,998 shares, compared to its average volume of 11,023,042. Toast, Inc. has a 52 week low of $14.75 and a 52 week high of $44.12. The company has a market cap of $18.28 billion, a PE ratio of -298.54, a PEG ratio of 48.60 and a beta of 1.93. The business has a 50-day simple moving average of $34.32 and a 200-day simple moving average of $28.23.

Insiders Place Their Bets

In other Toast news, CEO Aman Narang sold 10,106 shares of Toast stock in a transaction on Wednesday, October 2nd. The shares were sold at an average price of $27.77, for a total transaction of $280,643.62. Following the completion of the sale, the chief executive officer now owns 968,095 shares of the company's stock, valued at $26,883,998.15. This trade represents a 1.03 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. Also, 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 value of $4,989,439.02. Following the sale, 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 disclosure for this sale can be found here. Over the last three months, insiders have sold 1,688,321 shares of company stock worth $52,160,120. 13.32% of the stock is owned by corporate insiders.

Wall Street Analyst Weigh In

A number of research firms have recently issued reports on TOST. The Goldman Sachs Group reiterated a "neutral" rating and set a $45.00 price objective (up previously from $34.00) on shares of Toast in a research note on Monday, December 2nd. Piper Sandler increased their target price on Toast from $25.00 to $35.00 and gave the company a "neutral" rating in a research note on Monday, November 11th. Stephens lifted their price target on shares of Toast from $28.00 to $30.00 and gave the stock an "equal weight" rating in a research note on Friday, October 18th. BNP Paribas lowered shares of Toast from an "outperform" rating to a "neutral" rating and set a $37.00 target price on the stock. in a research note on Wednesday, November 20th. Finally, Deutsche Bank Aktiengesellschaft lifted their price target on Toast from $24.00 to $30.00 and gave the stock a "hold" rating in a research note on Monday, November 4th. One investment analyst has rated the stock with a sell rating, twelve have issued a hold rating and nine have assigned a buy rating to the company. According to MarketBeat.com, Toast has an average rating of "Hold" and a consensus target price of $34.14.

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.