Toast, Inc. (NYSE:TOST) Shares Sold by Empowered Funds LLC

Empowered Funds LLC cut its holdings in shares of Toast, Inc. (NYSE:TOST) by 3.0% in the third quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 79,694 shares of the company’s stock after selling 2,461 shares during the period. Empowered Funds LLC’s holdings in Toast were worth $2,256,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in the stock. Mitsubishi UFJ Trust & Banking Corp grew its position in shares of Toast by 3.2% during the 1st quarter. Mitsubishi UFJ Trust & Banking Corp now owns 176,003 shares of the company’s stock valued at $4,382,000 after acquiring an additional 5,421 shares during the period. Covestor Ltd increased its position in shares of Toast by 487.7% in the first quarter. Covestor Ltd now owns 3,003 shares of the company’s stock valued at $75,000 after buying an additional 2,492 shares in the last quarter. UniSuper Management Pty Ltd increased its position in shares of Toast by 188.2% in the first quarter. UniSuper Management Pty Ltd now owns 4,900 shares of the company’s stock valued at $122,000 after buying an additional 3,200 shares in the last quarter. CANADA LIFE ASSURANCE Co raised its stake in shares of Toast by 13.8% during the 1st quarter. CANADA LIFE ASSURANCE Co now owns 314,519 shares of the company’s stock worth $7,833,000 after buying an additional 38,031 shares during the period. Finally, Advisors Asset Management Inc. lifted its position in shares of Toast by 38.2% during the 1st quarter. Advisors Asset Management Inc. now owns 4,086 shares of the company’s stock valued at $102,000 after buying an additional 1,130 shares in the last quarter. 82.91% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several research analysts recently weighed in on TOST shares. Deutsche Bank Aktiengesellschaft upped their price target on shares of Toast from $24.00 to $30.00 and gave the stock a “hold” rating in a research report on Monday, November 4th. Royal Bank of Canada increased their price objective on Toast from $27.00 to $40.00 and gave the company a “sector perform” rating in a research note on Friday, November 8th. DA Davidson lifted their target price on shares of Toast from $35.00 to $44.00 and gave the stock a “buy” rating in a research note on Tuesday, November 12th. Bank of America increased their target price on shares of Toast from $26.00 to $28.00 and gave the company a “neutral” rating in a research report on Tuesday, September 17th. Finally, Robert W. Baird boosted their price target on shares of Toast from $30.00 to $38.00 and gave the stock a “neutral” rating in a research report on Friday, November 8th. One research analyst has rated the stock with a sell rating, ten have assigned a hold rating and eleven have given a buy rating to the company. According to MarketBeat.com, Toast currently has a consensus rating of “Hold” and an average target price of $33.86.

Toast Stock Performance

Toast stock opened at $42.49 on Thursday. The firm 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. The company has a market capitalization of $20.01 billion, a PE ratio of -326.92, a price-to-earnings-growth ratio of 51.74 and a beta of 1.74.

Insider Activity

In other Toast news, CRO Jonathan Vassil sold 1,367 shares of Toast stock in a transaction dated Monday, November 4th. The stock was sold at an average price of $31.08, for a total value of $42,486.36. Following the completion of the transaction, the executive now directly owns 39,834 shares of the company’s stock, valued at $1,238,040.72. The trade was a 3.32 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, General Counsel Brian R. Elworthy sold 300,000 shares of the stock in a transaction dated Friday, October 18th. The stock was sold at an average price of $30.39, for a total transaction of $9,117,000.00. Following the sale, the general counsel now directly owns 177,836 shares in the company, valued at $5,404,436.04. This represents a 62.78 % decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 1,475,651 shares of company stock valued at $43,037,212. 13.32% of the stock is currently owned by corporate insiders.

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.