Bridgewater Associates LP Has $15.87 Million Stock Position in Toast, Inc. (NYSE:TOST)

Bridgewater Associates LP boosted its stake in shares of Toast, Inc. (NYSE:TOST) by 1,027.5% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 560,729 shares of the company’s stock after purchasing an additional 510,998 shares during the quarter. Bridgewater Associates LP owned 0.12% of Toast worth $15,874,000 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 bought a new stake in shares of Toast during the second quarter valued at approximately $26,000. LRI Investments LLC acquired a new stake in shares of Toast during the 1st quarter valued at about $27,000. Toth Financial Advisory Corp bought a new stake in Toast in the third quarter valued at about $28,000. Thurston Springer Miller Herd & Titak Inc. acquired a new position in Toast in the second quarter worth about $33,000. Finally, 1620 Investment Advisors Inc. bought a new position in Toast during the second quarter worth about $34,000. 82.91% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

A number of brokerages have recently issued reports on TOST. Bank of America increased their target price on Toast from $26.00 to $28.00 and gave the stock a “neutral” rating in a report on Tuesday, September 17th. Wells Fargo & Company increased their target price on shares of Toast from $23.00 to $25.00 and gave the stock an “underweight” rating in a research report on Friday, November 8th. Compass Point assumed coverage on shares of Toast in a research report on Wednesday, November 20th. They issued a “buy” rating and a $49.00 price target on the stock. Deutsche Bank Aktiengesellschaft raised their price objective on shares of Toast from $24.00 to $30.00 and gave the stock a “hold” rating in a report on Monday, November 4th. Finally, Needham & Company LLC reiterated a “buy” rating and set a $30.00 target price on shares of Toast in a research report on Wednesday, August 7th. One equities research analyst has rated the stock with a sell rating, ten have given a hold rating and eleven have issued a buy rating to the stock. Based on data from MarketBeat, the company has an average rating of “Hold” and a consensus price target of $33.86.

Insider Activity at Toast

In other Toast news, Director David Yuan sold 189,785 shares of the company’s stock in a transaction 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 sale, the director now directly owns 198,829 shares of the company’s stock, valued at approximately $8,551,635.29. This represents a 48.84 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, President Stephen Fredette sold 101,574 shares of Toast stock in a transaction dated Thursday, September 12th. The stock was sold at an average price of $25.73, for a total value of $2,613,499.02. Following the transaction, the president now owns 2,395,685 shares of the company’s stock, valued at $61,640,975.05. The trade was a 4.07 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 1,688,321 shares of company stock valued at $52,160,120. 13.32% of the stock is owned by insiders.

Toast Trading Down 0.1 %

Shares of TOST stock opened at $43.17 on Thursday. The firm’s fifty day moving average price is $32.11 and its two-hundred day moving average price is $27.43. Toast, Inc. has a 1 year low of $14.00 and a 1 year high of $44.12. The firm has a market capitalization of $20.33 billion, a P/E ratio of -332.08, a PEG ratio of 54.80 and a beta of 1.74.

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.