Wellington Management Group LLP Sells 12,353 Shares of Toast, Inc. (NYSE:TOST)

Wellington Management Group LLP reduced its stake in shares of Toast, Inc. (NYSE:TOST) by 27.7% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 32,320 shares of the company’s stock after selling 12,353 shares during the quarter. Wellington Management Group LLP’s holdings in Toast were worth $915,000 at the end of the most recent quarter.

Other hedge funds have also recently bought and sold shares of the company. West Branch Capital LLC acquired a new stake in shares of Toast during the 2nd quarter worth approximately $26,000. Toth Financial Advisory Corp acquired a new stake in Toast during the third quarter worth $28,000. 1620 Investment Advisors Inc. bought a new stake in Toast in the 2nd quarter valued at $34,000. Raleigh Capital Management Inc. raised its stake in shares of Toast by 93.4% in the 3rd quarter. Raleigh Capital Management Inc. now owns 1,491 shares of the company’s stock valued at $42,000 after buying an additional 720 shares in the last quarter. Finally, Farther Finance Advisors LLC lifted its holdings in shares of Toast by 32.3% during the 3rd quarter. Farther Finance Advisors LLC now owns 2,033 shares of the company’s stock worth $58,000 after acquiring an additional 496 shares during the period. 82.91% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

A number of equities research analysts have weighed in on the company. Wells Fargo & Company lifted 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. Piper Sandler upped their price target on Toast from $25.00 to $35.00 and gave the company a “neutral” rating in a research report on Monday, November 11th. DA Davidson reissued a “neutral” rating and set a $38.00 price objective (down from $44.00) on shares of Toast in a report on Thursday, December 5th. Keefe, Bruyette & Woods upped their target price on shares of Toast from $29.00 to $40.00 and gave the stock a “market perform” rating in a report on Monday, December 9th. Finally, The Goldman Sachs Group reissued a “neutral” rating and set a $45.00 price target (up from $34.00) on shares of Toast in a report on Monday, December 2nd. One analyst has rated the stock with a sell rating, twelve have assigned a hold rating and nine have issued a buy rating to the stock. Based on data from MarketBeat.com, Toast currently has a consensus rating of “Hold” and a consensus target price of $34.81.

Toast Stock Performance

Shares of Toast stock opened at $35.93 on Friday. Toast, Inc. has a 52-week low of $16.13 and a 52-week high of $44.12. The business’s 50 day simple moving average is $36.04 and its 200 day simple moving average is $29.01. The firm has a market cap of $16.92 billion, a PE ratio of -276.38, a P/E/G ratio of 23.40 and a beta of 1.93.

Insider Activity

In other news, President Stephen Fredette sold 181,304 shares of the company’s stock in a transaction that occurred on Friday, September 27th. The stock was sold at an average price of $28.56, for a total transaction of $5,178,042.24. Following the sale, the president now owns 1,897,378 shares in the company, valued at $54,189,115.68. This represents a 8.72 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this link. Also, General Counsel Brian R. Elworthy sold 300,000 shares of the stock in a transaction that occurred on Friday, October 18th. The shares were sold at an average price of $30.39, for a total value of $9,117,000.00. Following the completion of the sale, the general counsel now directly owns 177,836 shares of the company’s stock, valued at approximately $5,404,436.04. The trade was a 62.78 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 1,230,023 shares of company stock worth $40,592,115 over the last ninety days. Insiders own 13.32% of the company’s stock.

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.