Federated Hermes Inc. Grows Position in Toast, Inc. (NYSE:TOST)

Federated Hermes Inc. lifted its stake in shares of Toast, Inc. (NYSE:TOST - Free Report) by 9.5% during the 1st quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 2,520,435 shares of the company's stock after acquiring an additional 218,229 shares during the period. Federated Hermes Inc. owned 0.51% of Toast worth $83,603,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors have also modified their holdings of TOST. American Century Companies Inc. raised its holdings in Toast by 330.0% in the 4th quarter. American Century Companies Inc. now owns 335,965 shares of the company's stock valued at $12,246,000 after buying an additional 257,831 shares during the period. Prudential Financial Inc. grew its position in Toast by 72.9% in the 4th quarter. Prudential Financial Inc. now owns 29,500 shares of the company's stock valued at $1,075,000 after acquiring an additional 12,440 shares in the last quarter. Korea Investment CORP grew its position in Toast by 2,350.0% in the 4th quarter. Korea Investment CORP now owns 236,868 shares of the company's stock valued at $8,634,000 after acquiring an additional 227,200 shares in the last quarter. Mitsubishi UFJ Asset Management Co. Ltd. grew its position in Toast by 20.9% in the 4th quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 361,512 shares of the company's stock valued at $13,593,000 after acquiring an additional 62,421 shares in the last quarter. Finally, Nomura Asset Management Co. Ltd. grew its position in Toast by 0.8% in the 4th quarter. Nomura Asset Management Co. Ltd. now owns 103,670 shares of the company's stock valued at $3,779,000 after acquiring an additional 870 shares in the last quarter. Hedge funds and other institutional investors own 82.91% of the company's stock.

Insider Buying and Selling at Toast

In related news, CEO Aman Narang sold 13,829 shares of the stock in a transaction on Wednesday, July 2nd. The stock was sold at an average price of $42.59, for a total transaction of $588,977.11. Following the sale, the chief executive officer owned 302,498 shares of the company's stock, valued at $12,883,389.82. This trade represents a 4.37% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, President Stephen Fredette sold 7,647 shares of the stock in a transaction dated Wednesday, July 2nd. The stock was sold at an average price of $42.59, for a total value of $325,685.73. Following the transaction, the president owned 889,017 shares in the company, valued at $37,863,234.03. This trade represents a 0.85% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 466,131 shares of company stock valued at $20,048,851. 13.32% of the stock is owned by company insiders.

Wall Street Analysts Forecast Growth

Several equities analysts have weighed in on the company. Wall Street Zen downgraded Toast from a "buy" rating to a "hold" rating in a research report on Saturday, July 5th. Piper Sandler upped their price target on Toast from $35.00 to $37.00 and gave the company a "neutral" rating in a report on Friday, May 9th. DA Davidson upped their price target on Toast from $40.00 to $46.00 and gave the company a "neutral" rating in a report on Tuesday. Wells Fargo & Company initiated coverage on Toast in a report on Wednesday, July 16th. They issued a "buy" rating for the company. Finally, Truist Financial boosted 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. Twelve investment analysts have rated the stock with a hold rating and fifteen have issued a buy rating to the company's stock. Based on data from MarketBeat, the company has an average rating of "Moderate Buy" and an average target price of $43.42.

Toast Price Performance

Toast stock traded down $2.10 during trading hours on Friday, hitting $46.74. The stock had a trading volume of 8,977,786 shares, compared to its average volume of 7,162,285. The stock has a market capitalization of $23.28 billion, a price-to-earnings ratio of 203.22 and a beta of 2.00. Toast, Inc. has a 1-year low of $22.10 and a 1-year high of $49.56. The stock's fifty day moving average is $44.07 and its two-hundred day moving average is $39.50.

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.