Park Avenue Securities LLC Reduces Position in Toast, Inc. (NYSE:TOST)

Park Avenue Securities LLC lowered its stake in Toast, Inc. (NYSE:TOST) by 31.2% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 34,754 shares of the company’s stock after selling 15,787 shares during the period. Park Avenue Securities LLC’s holdings in Toast were worth $1,267,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also made changes to their positions in the company. Makena Capital Management LLC increased its holdings in shares of Toast by 7.6% in the third quarter. Makena Capital Management LLC now owns 274,392 shares of the company’s stock valued at $7,768,000 after purchasing an additional 19,371 shares during the period. KBC Group NV increased its holdings in Toast by 66.5% in the 3rd quarter. KBC Group NV now owns 42,838 shares of the company’s stock worth $1,213,000 after buying an additional 17,106 shares during the period. Geode Capital Management LLC lifted its stake in Toast by 2.3% during the 3rd quarter. Geode Capital Management LLC now owns 6,865,934 shares of the company’s stock valued at $193,992,000 after acquiring an additional 155,212 shares during the period. MML Investors Services LLC boosted its holdings in shares of Toast by 40.6% in the 3rd quarter. MML Investors Services LLC now owns 228,313 shares of the company’s stock valued at $6,464,000 after acquiring an additional 65,957 shares during the last quarter. Finally, Qsemble Capital Management LP increased its stake in shares of Toast by 52.1% in the third quarter. Qsemble Capital Management LP now owns 67,796 shares of the company’s stock worth $1,919,000 after acquiring an additional 23,231 shares during the period. 82.91% of the stock is currently owned by institutional investors and hedge funds.

Insiders Place Their Bets

In other Toast news, Director Richard Kent Bennett sold 100,000 shares of the business’s stock in a transaction dated Tuesday, November 12th. The shares were sold at an average price of $36.67, for a total value of $3,667,000.00. Following the transaction, the director now directly owns 418,591 shares in the company, valued at $15,349,731.97. The trade was a 19.28 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, Director David Yuan sold 189,785 shares of the stock in a transaction that occurred 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 of the company’s stock, valued at approximately $8,551,635.29. This trade represents a 48.84 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 562,600 shares of company stock valued at $21,823,932 in the last ninety days. 13.32% of the stock is currently owned by corporate insiders.

Wall Street Analysts Forecast Growth

Several equities research analysts have weighed in on the company. BNP Paribas downgraded Toast from an “outperform” rating to a “neutral” rating and set a $37.00 price target on the stock. in a research report on Wednesday, November 20th. Wedbush boosted their price target on Toast from $35.00 to $45.00 and gave the company an “outperform” rating in a report on Friday, November 8th. Wells Fargo & Company lifted their target price on shares of Toast from $25.00 to $30.00 and gave the company an “underweight” rating in a report on Thursday. Morgan Stanley increased their price target on shares of Toast from $30.00 to $33.00 and gave the stock an “overweight” rating in a report on Tuesday, October 22nd. Finally, BMO Capital Markets started coverage on shares of Toast in a research report on Monday, January 6th. They issued an “outperform” rating and a $45.00 price objective for the company. One research analyst has rated the stock with a sell rating, twelve have given a hold rating and ten have assigned a buy rating to the company’s stock. According to MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus price target of $35.27.

Toast Trading Up 2.4 %

TOST opened at $37.76 on Monday. Toast, Inc. has a twelve month low of $16.13 and a twelve month high of $44.12. The firm has a market capitalization of $17.78 billion, a PE ratio of -290.46, a PEG ratio of 1.83 and a beta of 1.97. The firm’s 50-day moving average price is $38.91 and its 200 day moving average price is $31.02.

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.