Toast, Inc. $TOST Stock Position Raised by Candriam S.C.A.

Candriam S.C.A. increased its holdings in shares of Toast, Inc. (NYSE:TOST) by 10.9% during the 3rd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 602,200 shares of the company’s stock after acquiring an additional 59,045 shares during the quarter. Candriam S.C.A. owned approximately 0.12% of Toast worth $21,986,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors also recently bought and sold shares of the stock. Allianz Asset Management GmbH boosted its stake in shares of Toast by 322.0% during the 3rd quarter. Allianz Asset Management GmbH now owns 362,765 shares of the company’s stock worth $13,245,000 after buying an additional 276,803 shares during the last quarter. K.J. Harrison & Partners Inc acquired a new stake in shares of Toast in the second quarter valued at about $1,329,000. Nordea Investment Management AB raised its holdings in Toast by 49.5% during the third quarter. Nordea Investment Management AB now owns 138,619 shares of the company’s stock worth $4,988,000 after acquiring an additional 45,898 shares in the last quarter. Reliant Investment Partners LLC acquired a new position in Toast during the second quarter valued at approximately $472,000. Finally, Jennison Associates LLC grew its stake in Toast by 74.4% in the third quarter. Jennison Associates LLC now owns 15,000,561 shares of the company’s stock valued at $547,670,000 after purchasing an additional 6,398,674 shares in the last quarter. 82.91% of the stock is currently owned by institutional investors and hedge funds.

Toast Stock Performance

Shares of TOST stock opened at $28.67 on Tuesday. Toast, Inc. has a 52 week low of $26.92 and a 52 week high of $49.66. The company has a market capitalization of $14.77 billion, a price-to-earnings ratio of 66.67 and a beta of 1.93. The company has a 50-day simple moving average of $34.13 and a 200 day simple moving average of $37.71.

Insider Activity at Toast

In other Toast news, CEO Aman Narang sold 8,591 shares of the stock in a transaction on Monday, January 5th. The stock was sold at an average price of $34.38, for a total transaction of $295,358.58. Following the transaction, the chief executive officer owned 338,850 shares in the company, valued at $11,649,663. This trade represents a 2.47% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CRO Jonathan Vassil sold 66,390 shares of the business’s stock in a transaction dated Friday, January 2nd. The shares were sold at an average price of $35.86, for a total transaction of $2,380,745.40. Following the completion of the sale, the executive directly owned 84,589 shares of the company’s stock, valued at approximately $3,033,361.54. The trade was a 43.97% decrease in their position. The SEC filing for this sale provides additional information. Insiders have sold 100,856 shares of company stock valued at $3,540,449 in the last 90 days. Corporate insiders own 12.14% of the company’s stock.

Analyst Ratings Changes

Several research firms have recently commented on TOST. Wolfe Research downgraded Toast from an “outperform” rating to a “peer perform” rating in a report on Thursday, January 8th. DA Davidson cut their price target on shares of Toast from $42.00 to $36.00 and set a “neutral” rating for the company in a research note on Monday, February 2nd. Evercore raised shares of Toast from an “in-line” rating to an “outperform” rating and set a $40.00 price objective for the company in a research report on Tuesday, January 20th. UBS Group reaffirmed a “buy” rating on shares of Toast in a report on Thursday, December 18th. Finally, BNP Paribas Exane upgraded Toast from a “hold” rating to an “outperform” rating and set a $40.00 price target for the company in a report on Monday, December 1st. Two equities research analysts have rated the stock with a Strong Buy rating, thirteen have issued a Buy rating and eight have assigned a Hold rating to the stock. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $45.55.

About Toast

Toast, Inc (NYSE: TOST) is a technology company that builds a cloud-based platform for restaurants and other foodservice businesses. Headquartered in Boston, Massachusetts, Toast offers integrated point-of-sale (POS) systems and a suite of software and hardware designed to streamline front-of-house and back-of-house operations. The company went public in 2021 and has positioned itself as a vertically integrated provider for the restaurant industry.

Toast’s product portfolio includes touchscreen POS terminals and handheld order-and-pay devices, kitchen display systems, and peripherals tailored for high-volume foodservice environments.