Investment Management Corp VA ADV Buys Shares of 10,413 Toast, Inc. (NYSE:TOST)

Investment Management Corp VA ADV bought a new position in shares of Toast, Inc. (NYSE:TOST - Free Report) in the fourth quarter, according to the company in its most recent filing with the SEC. The fund bought 10,413 shares of the company's stock, valued at approximately $380,000.

A number of other institutional investors and hedge funds have also recently bought and sold shares of TOST. Vanguard Group Inc. raised its position in Toast by 10.8% in the fourth quarter. Vanguard Group Inc. now owns 42,474,232 shares of the company's stock valued at $1,548,186,000 after purchasing an additional 4,147,430 shares during the period. Capital International Investors grew its stake in shares of Toast by 1.9% in the fourth quarter. Capital International Investors now owns 41,961,233 shares of the company's stock valued at $1,529,657,000 after buying an additional 785,641 shares in the last quarter. FMR LLC grew its stake in shares of Toast by 22.1% in the fourth 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. Arrowstreet Capital Limited Partnership purchased a new stake in shares of Toast during the 4th quarter valued at about $282,010,000. Finally, Geode Capital Management LLC lifted its position in Toast by 2.9% during the 4th quarter. Geode Capital Management LLC now owns 7,061,739 shares of the company's stock worth $256,970,000 after acquiring an additional 195,805 shares in the last quarter. Institutional investors and hedge funds own 82.91% of the company's stock.

Insider Transactions at Toast

In related news, President Stephen Fredette sold 70,340 shares of the company's stock in a transaction on Friday, March 7th. The stock was sold at an average price of $33.87, for a total transaction of $2,382,415.80. Following the completion of the transaction, the president now directly owns 1,574,316 shares in the company, valued at $53,322,082.92. This represents a 4.28% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Paul D. Bell sold 11,000 shares of the stock in a transaction on Thursday, May 15th. The stock was sold at an average price of $45.13, for a total value of $496,430.00. Following the completion of the sale, the director now directly owns 229,680 shares in the company, valued at $10,365,458.40. This represents a 4.57% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 416,991 shares of company stock worth $15,242,750. 13.32% of the stock is currently owned by insiders.

Analyst Upgrades and Downgrades

TOST has been the subject of several recent research reports. Wall Street Zen raised shares of Toast from a "buy" rating to a "strong-buy" rating in a research report on Saturday. Needham & Company LLC reaffirmed a "buy" rating and set a $50.00 price target on shares of Toast in a report on Thursday, February 20th. Morgan Stanley lifted their price target on shares of Toast from $46.00 to $50.00 and gave the stock an "overweight" rating in a research note on Friday, May 9th. Piper Sandler upped their price objective on shares of Toast from $35.00 to $37.00 and gave the company a "neutral" rating in a research report on Friday, May 9th. Finally, Royal Bank of Canada raised their target price on Toast from $40.00 to $45.00 and gave the company a "sector perform" rating in a research note on Thursday, February 20th. Twelve investment analysts have rated the stock with a hold rating, eleven have given a buy rating and one has assigned a strong buy rating to the company's stock. Based on data from MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and an average target price of $40.91.

Toast Stock Down 1.0%

TOST stock traded down $0.43 during trading on Wednesday, hitting $42.31. 2,242,668 shares of the company's stock traded hands, compared to its average volume of 6,840,105. The stock has a market capitalization of $21.07 billion, a price-to-earnings ratio of -4,222.18, a price-to-earnings-growth ratio of 2.16 and a beta of 1.98. Toast, Inc. has a 52 week low of $21.32 and a 52 week high of $45.56. The stock has a fifty day moving average price of $36.77 and a two-hundred day moving average price of $37.90.

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.