CIBC Asset Management Inc Has $357,000 Stock Holdings in Toast, Inc. (NYSE:TOST)

CIBC Asset Management Inc boosted its stake in Toast, Inc. (NYSE:TOST) by 3.7% during the 3rd quarter, HoldingsChannel.com reports. The fund owned 12,614 shares of the company’s stock after acquiring an additional 448 shares during the period. CIBC Asset Management Inc’s holdings in Toast were worth $357,000 at the end of the most recent quarter.

Several other institutional investors have also added to or reduced their stakes in the stock. Price T Rowe Associates Inc. MD lifted its position in shares of Toast by 21.4% in the 1st quarter. Price T Rowe Associates Inc. MD now owns 19,524,700 shares of the company’s stock worth $486,557,000 after purchasing an additional 3,445,788 shares during the period. Whale Rock Capital Management LLC bought a new position in Toast during the first quarter worth $179,111,000. XN LP raised its stake in Toast by 40.9% during the first quarter. XN LP now owns 5,055,225 shares of the company’s stock worth $125,976,000 after buying an additional 1,467,339 shares during the last quarter. Assenagon Asset Management S.A. lifted its holdings in Toast by 2,889.8% in 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. Finally, Marshall Wace LLP boosted its position in Toast by 175.8% during the second quarter. Marshall Wace LLP now owns 2,517,288 shares of the company’s stock valued at $64,871,000 after acquiring an additional 1,604,716 shares during the last quarter. 82.91% of the stock is currently owned by institutional investors.

Insiders Place Their Bets

In other Toast news, President Stephen Fredette sold 101,574 shares of Toast stock in a transaction dated Thursday, September 12th. The shares were sold at an average price of $25.73, for a total value of $2,613,499.02. Following the sale, the president now owns 2,395,685 shares of the company’s stock, valued at approximately $61,640,975.05. The trade was a 4.07 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, Director Richard Kent Bennett sold 100,000 shares of the firm’s stock in a transaction on Tuesday, November 12th. The stock was sold at an average price of $36.67, for a total value of $3,667,000.00. Following the completion of the sale, the director now directly owns 418,591 shares of the company’s stock, valued at $15,349,731.97. This represents a 19.28 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 1,475,651 shares of company stock valued at $43,037,212 in the last three months. 13.32% of the stock is currently owned by insiders.

Toast Trading Down 0.3 %

Shares of Toast stock opened at $42.36 on Friday. The company has a market capitalization of $19.95 billion, a P/E ratio of -325.85, a price-to-earnings-growth ratio of 54.16 and a beta of 1.74. The stock has a fifty day simple moving average of $30.80 and a 200 day simple moving average of $26.94. Toast, Inc. has a 12-month low of $13.77 and a 12-month high of $43.29.

Analyst Upgrades and Downgrades

Several equities research analysts recently commented on the company. The Goldman Sachs Group upped their target price on Toast from $29.00 to $33.00 and gave the company a “buy” rating in a research report on Monday, October 14th. Robert W. Baird raised their price objective 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. Stephens lifted their price objective on shares of Toast from $28.00 to $30.00 and gave the company an “equal weight” rating in a research note on Friday, October 18th. Wedbush increased their target price on shares of Toast from $35.00 to $45.00 and gave the stock an “outperform” rating in a research note on Friday, November 8th. Finally, JPMorgan Chase & Co. lifted their price target on shares of Toast from $28.00 to $36.00 and gave the company a “neutral” rating in a research note on Friday, November 8th. One research analyst has rated the stock with a sell rating, ten have issued a hold rating and eleven have given a buy rating to the stock. According to MarketBeat, Toast currently has an average rating of “Hold” and an average price target of $33.86.

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.