Knights of Columbus Asset Advisors LLC Grows Stake in Toast, Inc. (NYSE:TOST)

Key Points

• Knights of Columbus Asset Advisors LLC increased its stake in Toast, Inc. by 36.9%, now owning a total of 59,695 shares valued at approximately $1,980,000.
• Multiple hedge funds, including Arrowstreet Capital and Vanguard Group, have significantly increased their holdings in Toast, with hedge funds now owning about 82.91% of the stock.
• An average of twenty-seven analysts rate Toast stock with a consensus price target of $43.17, indicating positive sentiment despite varied individual ratings.

Knights of Columbus Asset Advisors LLC raised its position in shares of Toast, Inc. (NYSE:TOST - Free Report) by 36.9% in the first quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 59,695 shares of the company's stock after purchasing an additional 16,099 shares during the period. Knights of Columbus Asset Advisors LLC's holdings in Toast were worth $1,980,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds have also made changes to their positions in TOST. Arrowstreet Capital Limited Partnership bought a new stake in shares of Toast in the fourth quarter valued at about $282,010,000. Norges Bank bought a new stake in shares of Toast in the 4th quarter valued at about $205,888,000. Principal Financial Group Inc. raised its holdings in shares of Toast by 14,258.8% in the 1st quarter. Principal Financial Group Inc. now owns 5,474,443 shares of the company's stock valued at $181,587,000 after purchasing an additional 5,436,317 shares in the last quarter. FMR LLC lifted its position in shares of Toast by 22.1% in the 4th quarter. FMR LLC now owns 29,853,639 shares of the company's stock worth $1,088,165,000 after purchasing an additional 5,403,896 shares during the period. Finally, Vanguard Group Inc. boosted its stake in shares of Toast by 10.8% during 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 in the last quarter. 82.91% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

A number of equities analysts recently commented on TOST shares. Barclays reissued an "overweight" rating on shares of Toast in a research note on Wednesday, July 16th. DA Davidson reduced their price target on Toast from $42.00 to $40.00 and set a "neutral" rating for the company in a research report on Wednesday, April 30th. Truist Financial upped their price objective on Toast from $48.00 to $50.00 and gave the stock a "buy" rating in a research note on Thursday, July 17th. Wolfe Research upgraded Toast from a "peer perform" rating to an "outperform" rating and set a $44.00 target price on the stock in a research note on Wednesday, April 23rd. Finally, Deutsche Bank Aktiengesellschaft started coverage on shares of Toast in a research report on Thursday, July 17th. They set a "buy" rating and a $54.00 price target for the company. Twelve analysts have rated the stock with a hold rating and fifteen have issued a buy rating to the company. According to MarketBeat, the stock currently has an average rating of "Moderate Buy" and a consensus price target of $43.17.

Toast Stock Performance

Shares of TOST opened at $48.76 on Friday. The business's 50-day moving average is $43.78 and its two-hundred day moving average is $39.25. The company has a market capitalization of $24.28 billion, a P/E ratio of 211.98 and a beta of 2.00. Toast, Inc. has a fifty-two week low of $22.10 and a fifty-two week high of $49.20.

Insider Transactions at Toast

In other news, CEO Aman Narang sold 13,829 shares of the firm's stock in a transaction that occurred on Wednesday, July 2nd. The shares were 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 position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, CRO Jonathan Vassil sold 6,592 shares of Toast stock in a transaction that occurred on Wednesday, July 2nd. The shares were sold at an average price of $42.59, for a total transaction of $280,753.28. Following the transaction, the executive directly owned 61,791 shares of the company's stock, valued at approximately $2,631,678.69. This trade represents a 9.64% decrease in their ownership of the stock. 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 owned by insiders.

Toast 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.

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