Toast, Inc. (NYSE:TOST) Stock Holdings Increased by IPG Investment Advisors LLC

IPG Investment Advisors LLC boosted its stake in shares of Toast, Inc. (NYSE:TOSTFree Report) by 19.8% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 37,500 shares of the company’s stock after purchasing an additional 6,200 shares during the quarter. IPG Investment Advisors LLC’s holdings in Toast were worth $702,000 at the end of the most recent quarter.

Several other large investors have also recently bought and sold shares of the stock. Vanguard Group Inc. raised its stake in shares of Toast by 23.6% in the 3rd quarter. Vanguard Group Inc. now owns 27,413,189 shares of the company’s stock valued at $458,348,000 after buying an additional 5,232,858 shares in the last quarter. Capital International Investors increased its position in shares of Toast by 40.0% during the 2nd quarter. Capital International Investors now owns 23,305,137 shares of the company’s stock worth $526,000,000 after purchasing an additional 6,655,409 shares in the last quarter. BlackRock Inc. increased its position in shares of Toast by 26.7% during the 2nd quarter. BlackRock Inc. now owns 18,546,558 shares of the company’s stock worth $418,596,000 after purchasing an additional 3,907,219 shares in the last quarter. Altimeter Capital Management LP increased its position in shares of Toast by 3,508.4% during the 1st quarter. Altimeter Capital Management LP now owns 18,041,796 shares of the company’s stock worth $3,933,007,000 after purchasing an additional 17,541,796 shares in the last quarter. Finally, Durable Capital Partners LP increased its position in shares of Toast by 0.7% during the 2nd quarter. Durable Capital Partners LP now owns 11,926,931 shares of the company’s stock worth $269,191,000 after purchasing an additional 85,321 shares in the last quarter. 60.29% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of equities research analysts recently issued reports on the stock. Royal Bank of Canada began coverage on shares of Toast in a research report on Wednesday, January 31st. They set a “sector perform” rating and a $19.00 target price for the company. UBS Group reaffirmed a “buy” rating and issued a $24.00 target price on shares of Toast in a research note on Friday, October 20th. Bank of America lowered shares of Toast from a “buy” rating to a “neutral” rating and reduced their target price for the company from $22.00 to $16.00 in a research note on Wednesday, December 6th. JPMorgan Chase & Co. reduced their price objective on shares of Toast from $26.00 to $19.00 and set a “neutral” rating on the stock in a research note on Wednesday, November 8th. Finally, Redburn Atlantic raised shares of Toast from a “neutral” rating to a “buy” rating and set a $28.00 price objective on the stock in a research note on Wednesday, February 7th. One research analyst has rated the stock with a sell rating, eleven have given a hold rating and nine have issued a buy rating to the stock. According to MarketBeat.com, the company currently has an average rating of “Hold” and a consensus target price of $21.15.

Read Our Latest Research Report on TOST

Insider Activity at Toast

In other Toast news, insider James Michael Matlock sold 5,804 shares of Toast stock in a transaction on Friday, February 2nd. The shares were sold at an average price of $18.72, for a total transaction of $108,650.88. Following the completion of the transaction, the insider now directly owns 43,884 shares of the company’s stock, valued at $821,508.48. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. In other Toast news, insider James Michael Matlock sold 5,804 shares of Toast stock in a transaction on Friday, February 2nd. The shares were sold at an average price of $18.72, for a total transaction of $108,650.88. Following the completion of the transaction, the insider now directly owns 43,884 shares of the company’s stock, valued at $821,508.48. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, General Counsel Brian R. Elworthy sold 1,722 shares of Toast stock in a transaction on Wednesday, January 3rd. The stock was sold at an average price of $17.39, for a total transaction of $29,945.58. Following the transaction, the general counsel now directly owns 383,188 shares of the company’s stock, valued at $6,663,639.32. The disclosure for this sale can be found here. Over the last three months, insiders sold 707,513 shares of company stock valued at $12,292,808. 13.70% of the stock is owned by corporate insiders.

Toast Trading Up 4.1 %

Shares of NYSE TOST traded up $0.80 during midday trading on Monday, reaching $20.08. The company’s stock had a trading volume of 6,121,077 shares, compared to its average volume of 8,581,329. Toast, Inc. has a fifty-two week low of $13.77 and a fifty-two week high of $27.00. The stock has a 50 day simple moving average of $17.58 and a 200-day simple moving average of $18.28. The stock has a market capitalization of $8.54 billion, a price-to-earnings ratio of -30.60 and a beta of 1.65.

About Toast

(Free Report)

Toast, Inc operates a cloud-based digital technology platform for the restaurant industry in the United States and Ireland. The company offers Toast POS, a software module that integrates payment processing with point of sale functionality; Toast Invoicing that allows restaurants to send invoices and collect payment; Toast Mobile Order & Pay, which allows guests to scan a QR code to browse the menu, order, and pay from mobile; Kitchen Display System software that connects the house with the kitchen staff; and Multi-Location Management, a tool to manage operations and configure menus across multiple locations and channels.

Further Reading

Want to see what other hedge funds are holding TOST? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Toast, Inc. (NYSE:TOSTFree Report).

Institutional Ownership by Quarter for Toast (NYSE:TOST)

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