Genus Capital Management Inc. Invests $1.75 Million in Toast, Inc. (NYSE:TOST)

Genus Capital Management Inc. bought a new position in Toast, Inc. (NYSE:TOST - Free Report) during the first quarter, according to its most recent Form 13F filing with the SEC. The firm bought 52,700 shares of the company's stock, valued at approximately $1,748,000.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in TOST. Arrowstreet Capital Limited Partnership purchased a new stake in shares of Toast in the 4th quarter valued at $282,010,000. Norges Bank acquired a new stake in Toast in the fourth quarter valued at $205,888,000. Principal Financial Group Inc. raised its position in shares of Toast by 14,258.8% during the 1st quarter. Principal Financial Group Inc. now owns 5,474,443 shares of the company's stock worth $181,587,000 after acquiring an additional 5,436,317 shares in the last quarter. FMR LLC boosted its holdings in shares of Toast by 22.1% in the 4th quarter. FMR LLC now owns 29,853,639 shares of the company's stock valued at $1,088,165,000 after buying an additional 5,403,896 shares in the last quarter. Finally, Vanguard Group Inc. grew its position in shares of Toast by 10.8% in the 4th quarter. Vanguard Group Inc. now owns 42,474,232 shares of the company's stock valued at $1,548,186,000 after buying an additional 4,147,430 shares during the last quarter. Institutional investors and hedge funds own 82.91% of the company's stock.

Toast Stock Up 2.5%

NYSE TOST traded up $1.09 on Monday, hitting $44.48. The stock had a trading volume of 6,854,027 shares, compared to its average volume of 7,024,579. The company's 50-day moving average is $42.57 and its two-hundred day moving average is $38.62. Toast, Inc. has a one year low of $22.10 and a one year high of $46.57. The stock has a market cap of $22.15 billion, a price-to-earnings ratio of 193.37 and a beta of 2.00.

Analyst Upgrades and Downgrades

A number of brokerages have recently commented on TOST. The Goldman Sachs Group cut their target price on shares of Toast from $43.00 to $38.00 and set a "neutral" rating on the stock in a report on Wednesday, April 2nd. Morgan Stanley boosted their price objective on shares of Toast from $46.00 to $50.00 and gave the stock an "overweight" rating in a report on Friday, May 9th. Wolfe Research raised shares of Toast from a "peer perform" rating to an "outperform" rating and set a $44.00 price objective on the stock in a research note on Wednesday, April 23rd. Wall Street Zen cut Toast from a "buy" rating to a "hold" rating in a report on Saturday, July 5th. Finally, DA Davidson decreased their price target on Toast from $42.00 to $40.00 and set a "neutral" rating on the stock in a research note on Wednesday, April 30th. Thirteen equities research analysts have rated the stock with a hold rating and twelve have given a buy rating to the company. According to data from MarketBeat, Toast has a consensus rating of "Hold" and an average price target of $41.21.

Insider Activity at Toast

In related news, Director Christopher P. Comparato sold 70,000 shares of the firm's stock in a transaction that occurred on Wednesday, May 14th. The shares were sold at an average price of $44.74, for a total transaction of $3,131,800.00. Following the transaction, the director owned 187,140 shares in the company, valued at $8,372,643.60. This trade represents a 27.22% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, General Counsel Brian R. Elworthy sold 300,000 shares of the firm's stock in a transaction dated Monday, June 2nd. The shares were sold at an average price of $42.60, for a total transaction of $12,780,000.00. Following the transaction, the general counsel owned 216,156 shares of the company's stock, valued at approximately $9,208,245.60. This trade represents a 58.12% decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 536,131 shares of company stock worth $22,443,551 in the last ninety days. 13.32% of the stock is currently owned by corporate insiders.

Toast Company Profile

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.