Cerity Partners LLC Has $2.03 Million Stock Holdings in Toast, Inc. (NYSE:TOST)

Cerity Partners LLC raised its position in Toast, Inc. (NYSE:TOST) by 50.4% during the third quarter, Holdings Channel reports. The institutional investor owned 71,526 shares of the company’s stock after buying 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.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Makena Capital Management LLC grew its holdings in shares of Toast by 7.6% in the 3rd quarter. Makena Capital Management LLC now owns 274,392 shares of the company’s stock valued at $7,768,000 after buying an additional 19,371 shares during the period. KBC Group NV increased its stake in Toast by 66.5% during the 3rd quarter. KBC Group NV now owns 42,838 shares of the company’s stock worth $1,213,000 after purchasing an additional 17,106 shares in the last quarter. Stephens Investment Management Group LLC raised its holdings in Toast by 13.1% during the 3rd quarter. Stephens Investment Management Group LLC now owns 1,884,771 shares of the company’s stock worth $53,358,000 after buying an additional 218,959 shares during the period. Entropy Technologies LP bought a new position in Toast in the third quarter valued at approximately $894,000. Finally, Quest Partners LLC acquired a new position in shares of Toast in the third quarter valued at approximately $1,391,000. 82.91% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

TOST has been the topic of a number of research reports. BNP Paribas lowered Toast from an “outperform” rating to a “neutral” rating and set a $37.00 price target on the stock. in a report on Wednesday, November 20th. Wedbush lifted their price target on shares of Toast from $35.00 to $45.00 and gave the company an “outperform” rating in a research note on Friday, November 8th. The Goldman Sachs Group increased their price objective on shares of Toast from $29.00 to $33.00 and gave the stock a “buy” rating in a research note on Monday, October 14th. Wells Fargo & Company raised their price objective on Toast from $23.00 to $25.00 and gave the company an “underweight” rating in a report on Friday, November 8th. Finally, Royal Bank of Canada increased 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. One investment analyst has rated the stock with a sell rating, ten have given a hold rating and eleven have issued a buy rating to the company. According to MarketBeat.com, the company has a consensus rating of “Hold” and an average price target of $33.86.

Toast Stock Up 0.8 %

Shares of TOST stock opened at $43.54 on Monday. Toast, Inc. has a twelve month low of $14.45 and a twelve month high of $44.12. The stock’s fifty day simple moving average is $33.09 and its 200 day simple moving average is $27.77. The firm has a market capitalization of $20.51 billion, a P/E ratio of -334.92, a P/E/G ratio of 55.49 and a beta of 1.74.

Insider Activity

In other news, Director David Yuan sold 189,785 shares of the stock in a transaction on Monday, November 25th. The shares were sold at an average price of $43.01, for a total transaction of $8,162,652.85. Following the completion of the sale, the director now directly owns 198,829 shares in the company, valued at $8,551,635.29. This represents a 48.84 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, CEO Aman Narang sold 10,106 shares of Toast stock in a transaction on Wednesday, October 2nd. The stock was sold at an average price of $27.77, for a total transaction of $280,643.62. Following the transaction, the chief executive officer now directly owns 968,095 shares of the company’s stock, valued at $26,883,998.15. This represents a 1.03 % decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders have sold 1,688,321 shares of company stock valued at $52,160,120. 13.32% of the stock is currently owned by corporate insiders.

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.