Toast, Inc. (NYSE:TOST) Stake Boosted by Jennison Associates LLC

Jennison Associates LLC boosted its holdings in shares of Toast, Inc. (NYSE:TOST - Free Report) by 466.9% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 1,995,642 shares of the company's stock after buying an additional 1,643,594 shares during the period. Jennison Associates LLC owned approximately 0.40% of Toast worth $66,195,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors have also recently modified their holdings of the company. Procyon Advisors LLC acquired a new stake in Toast during the first quarter worth about $242,000. Wealth Enhancement Advisory Services LLC boosted its position in Toast by 19.5% during the fourth quarter. Wealth Enhancement Advisory Services LLC now owns 22,751 shares of the company's stock worth $829,000 after purchasing an additional 3,713 shares in the last quarter. Yorktown Management & Research Co Inc purchased a new position in Toast during the first quarter worth approximately $252,000. Principal Financial Group Inc. boosted its position in Toast by 14,258.8% during the first quarter. Principal Financial Group Inc. now owns 5,474,443 shares of the company's stock worth $181,587,000 after purchasing an additional 5,436,317 shares in the last quarter. Finally, BNP Paribas Financial Markets purchased a new position in Toast during the fourth quarter worth approximately $83,684,000. 82.91% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling at Toast

In other news, CRO Jonathan Vassil sold 6,592 shares of the firm's stock in a transaction on Wednesday, July 2nd. The stock was sold at an average price of $42.59, for a total transaction of $280,753.28. Following the sale, the executive owned 61,791 shares in the company, valued at $2,631,678.69. This trade represents a 9.64% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, President Stephen Fredette sold 7,647 shares of Toast stock in a transaction on Wednesday, July 2nd. The shares were sold at an average price of $42.59, for a total value of $325,685.73. Following the completion of the transaction, the president owned 889,017 shares in the company, valued at $37,863,234.03. The trade was a 0.85% decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 466,131 shares of company stock valued at $20,048,851. 13.32% of the stock is currently owned by insiders.

Wall Street Analysts Forecast Growth

Several equities analysts have recently weighed in on TOST shares. The Goldman Sachs Group decreased their target price on Toast from $43.00 to $38.00 and set a "neutral" rating on the stock in a research report on Wednesday, April 2nd. Evercore ISI began coverage on Toast in a research report on Wednesday, April 9th. They set an "in-line" rating and a $29.00 price objective on the stock. DA Davidson reduced their price objective on Toast from $42.00 to $40.00 and set a "neutral" rating on the stock in a research report on Wednesday, April 30th. BMO Capital Markets lifted their price objective on Toast from $44.00 to $45.00 and gave the stock an "outperform" rating in a research report on Monday, May 12th. Finally, Jefferies Financial Group lifted their price objective on Toast from $50.00 to $54.00 and gave the stock a "buy" rating in a research report on Friday. Twelve analysts have rated the stock with a hold rating and fifteen have issued a buy rating to the company's stock. According to MarketBeat, the stock has an average rating of "Moderate Buy" and a consensus target price of $43.17.

Toast Trading Down 0.1%

Shares of NYSE TOST traded down $0.06 during trading on Friday, reaching $46.56. The company had a trading volume of 7,395,108 shares, compared to its average volume of 6,818,042. Toast, Inc. has a twelve month low of $22.10 and a twelve month high of $47.50. The stock has a market capitalization of $23.19 billion, a PE ratio of 202.43 and a beta of 2.00. The stock has a 50-day moving average price of $43.43 and a two-hundred day moving average price of $38.90.

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.