Prime Capital Investment Advisors LLC cut its position in shares of Toast, Inc. (NYSE:TOST – Free Report) by 10.9% in the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 5,386 shares of the company’s stock after selling 657 shares during the period. Prime Capital Investment Advisors LLC’s holdings in Toast were worth $239,000 as of its most recent SEC filing.
A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Vanguard Group Inc. boosted its stake in Toast by 3.5% during the first quarter. Vanguard Group Inc. now owns 43,945,584 shares of the company’s stock valued at $1,457,675,000 after buying an additional 1,471,352 shares during the last quarter. Price T Rowe Associates Inc. MD boosted its stake in Toast by 17.5% during the first quarter. Price T Rowe Associates Inc. MD now owns 23,454,209 shares of the company’s stock valued at $777,978,000 after buying an additional 3,490,686 shares during the last quarter. T. Rowe Price Investment Management Inc. boosted its stake in Toast by 7.5% during the first quarter. T. Rowe Price Investment Management Inc. now owns 15,520,360 shares of the company’s stock valued at $514,811,000 after buying an additional 1,082,958 shares during the last quarter. Sumitomo Mitsui Trust Group Inc. boosted its stake in Toast by 2.9% during the first quarter. Sumitomo Mitsui Trust Group Inc. now owns 5,755,872 shares of the company’s stock valued at $190,922,000 after buying an additional 160,088 shares during the last quarter. Finally, Principal Financial Group Inc. boosted its stake in Toast by 14,258.8% during the first quarter. Principal Financial Group Inc. now owns 5,474,443 shares of the company’s stock valued at $181,587,000 after buying an additional 5,436,317 shares during the last quarter. 82.91% of the stock is owned by institutional investors.
Toast Price Performance
NYSE:TOST opened at $35.04 on Monday. The firm has a market capitalization of $17.87 billion, a price-to-earnings ratio of 103.04 and a beta of 1.94. Toast, Inc. has a 1 year low of $27.65 and a 1 year high of $49.66. The business has a 50 day simple moving average of $41.14 and a 200-day simple moving average of $40.88.
Insider Transactions at Toast
In other news, President Stephen Fredette sold 7,550 shares of the stock in a transaction that occurred on Thursday, October 2nd. The stock was sold at an average price of $35.56, for a total value of $268,478.00. Following the sale, the president directly owned 898,475 shares in the company, valued at approximately $31,949,771. This represents a 0.83% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, CFO Elena Gomez sold 9,054 shares of the stock in a transaction that occurred on Thursday, October 2nd. The stock was sold at an average price of $35.56, for a total value of $321,960.24. Following the completion of the sale, the chief financial officer owned 149,572 shares in the company, valued at approximately $5,318,780.32. The trade was a 5.71% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders sold 62,196 shares of company stock valued at $2,398,513. Company insiders own 12.14% of the company’s stock.
Analysts Set New Price Targets
A number of equities analysts recently commented on TOST shares. Jefferies Financial Group increased their price target on Toast from $50.00 to $54.00 and gave the company a “buy” rating in a research note on Friday, July 18th. Citigroup reissued a “buy” rating on shares of Toast in a research note on Wednesday, July 16th. Truist Financial raised their price objective on Toast from $48.00 to $50.00 and gave the company a “buy” rating in a research note on Thursday, July 17th. Keefe, Bruyette & Woods lowered their price objective on Toast from $50.00 to $42.00 and set a “market perform” rating for the company in a research note on Wednesday, October 1st. Finally, Deutsche Bank Aktiengesellschaft assumed coverage on Toast in a research note on Thursday, July 17th. They issued a “buy” rating and a $54.00 price objective for the company. Fifteen investment analysts have rated the stock with a Buy rating and eleven have issued a Hold rating to the stock. According to data from MarketBeat, Toast presently has an average rating of “Moderate Buy” and a consensus price target of $45.78.
View Our Latest Stock Report on TOST
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.
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