Toast, Inc. $TOST Shares Acquired by Assenagon Asset Management S.A.

Assenagon Asset Management S.A. lifted its holdings in Toast, Inc. (NYSE:TOST) by 106.5% in the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 658,722 shares of the company’s stock after purchasing an additional 339,762 shares during the quarter. Assenagon Asset Management S.A.’s holdings in Toast were worth $17,463,000 as of its most recent SEC filing.

Other institutional investors have also recently made changes to their positions in the company. NewEdge Advisors LLC boosted its holdings in Toast by 1,555.5% in the first quarter. NewEdge Advisors LLC now owns 17,432 shares of the company’s stock worth $578,000 after acquiring an additional 16,379 shares in the last quarter. Cerity Partners LLC raised its holdings in shares of Toast by 24.0% in the second quarter. Cerity Partners LLC now owns 81,574 shares of the company’s stock worth $3,613,000 after buying an additional 15,774 shares during the last quarter. State Street Corp raised its holdings in shares of Toast by 2.7% in the second quarter. State Street Corp now owns 9,212,889 shares of the company’s stock worth $408,039,000 after buying an additional 245,276 shares during the last quarter. Frontier Capital Management Co. LLC acquired a new stake in shares of Toast during the second quarter worth $4,479,000. Finally, Sei Investments Co. lifted its stake in shares of Toast by 24.6% during the second quarter. Sei Investments Co. now owns 1,030,007 shares of the company’s stock worth $45,619,000 after buying an additional 203,404 shares during the period. Institutional investors and hedge funds own 82.91% of the company’s stock.

Toast Stock Performance

NYSE:TOST opened at $27.16 on Friday. The firm’s fifty day moving average is $25.69 and its two-hundred day moving average is $28.94. The firm has a market cap of $14.01 billion, a price-to-earnings ratio of 41.78 and a beta of 1.76. Toast, Inc. has a one year low of $22.26 and a one year high of $49.66.

Analyst Ratings Changes

Several research firms recently issued reports on TOST. Oppenheimer reissued an “outperform” rating and issued a $36.00 target price on shares of Toast in a research report on Friday, May 8th. UBS Group dropped their price target on Toast from $40.00 to $34.00 and set a “buy” rating on the stock in a research note on Friday, May 8th. Wall Street Zen upgraded Toast from a “hold” rating to a “buy” rating in a research note on Saturday, June 13th. Morgan Stanley set a $45.00 price objective on Toast in a report on Friday, May 8th. Finally, Citigroup reduced their price objective on Toast from $42.00 to $36.00 and set a “buy” rating for the company in a research note on Friday, May 8th. Two research analysts have rated the stock with a Strong Buy rating, seventeen have assigned a Buy rating and eight have assigned a Hold rating to the stock. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average price target of $37.62.

Insiders Place Their Bets

In related news, CFO Elena Gomez sold 8,929 shares of Toast stock in a transaction that occurred on Thursday, April 2nd. The stock was sold at an average price of $26.19, for a total transaction of $233,850.51. Following the completion of the transaction, the chief financial officer directly owned 173,064 shares in the company, valued at approximately $4,532,546.16. This trade represents a 4.91% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, President Stephen Fredette sold 7,289 shares of the business’s stock in a transaction that occurred on Thursday, April 2nd. The shares were sold at an average price of $26.19, for a total value of $190,898.91. Following the completion of the transaction, the president directly owned 920,985 shares of the company’s stock, valued at $24,120,597.15. The trade was a 0.79% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Over the last quarter, insiders have sold 147,783 shares of company stock worth $3,838,037. 10.03% of the stock is currently owned by company insiders.

Toast Profile

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.