Northeast Investment Management Acquires 22,034 Shares of Toast, Inc. (NYSE:TOST)

Northeast Investment Management increased its stake in shares of Toast, Inc. (NYSE:TOST - Free Report) by 72.7% during the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 52,325 shares of the company's stock after acquiring an additional 22,034 shares during the quarter. Northeast Investment Management's holdings in Toast were worth $1,736,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors and hedge funds have also bought and sold shares of the stock. Vanguard Group Inc. grew its stake in Toast by 10.8% in the fourth quarter. Vanguard Group Inc. now owns 42,474,232 shares of the company's stock worth $1,548,186,000 after purchasing an additional 4,147,430 shares during the period. Capital International Investors raised its stake in Toast by 1.9% during 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 during the last quarter. FMR LLC raised its stake in Toast by 22.1% during 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 during the last quarter. Arrowstreet Capital Limited Partnership bought a new stake in shares of Toast in the 4th quarter worth $282,010,000. Finally, Geode Capital Management LLC increased its holdings in shares of Toast by 2.9% in the 4th quarter. Geode Capital Management LLC now owns 7,061,739 shares of the company's stock worth $256,970,000 after purchasing an additional 195,805 shares in the last quarter. 82.91% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

Several brokerages recently commented on TOST. BMO Capital Markets lifted their price objective on Toast from $44.00 to $45.00 and gave the stock an "outperform" rating in a report on Monday, May 12th. Truist Financial began coverage on Toast in a report on Monday, June 2nd. They set a "buy" rating and a $48.00 price target for the company. Wolfe Research raised Toast from a "peer perform" rating to an "outperform" rating and set a $44.00 price target for the company in a report on Wednesday, April 23rd. Evercore ISI began coverage on Toast in a report on Wednesday, April 9th. They set an "in-line" rating and a $29.00 price target for the company. Finally, UBS Group boosted their price target on Toast from $41.00 to $47.00 and gave the company a "buy" rating in a report on Thursday, February 20th. Twelve research analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the stock. Based on data from MarketBeat, Toast currently has a consensus rating of "Moderate Buy" and an average price target of $41.21.

Insider Buying and Selling at Toast

In other Toast news, Director Susan Chapman-Hughes sold 7,500 shares of the company's stock in a transaction that occurred on Friday, June 6th. The stock was sold at an average price of $44.00, for a total transaction of $330,000.00. Following the sale, the director now directly owns 23,030 shares in the company, valued at $1,013,320. This represents a 24.57% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at this link. Also, Director Richard Kent Bennett sold 9,712 shares of the company's stock in a transaction that occurred on Tuesday, June 10th. The shares were sold at an average price of $43.14, for a total value of $418,975.68. Following the transaction, the director now directly owns 534,167 shares in the company, valued at approximately $23,043,964.38. This represents a 1.79% decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 629,341 shares of company stock worth $25,249,141 over the last ninety days. Company insiders own 13.32% of the company's stock.

Toast Stock Performance

TOST stock traded down $1.04 during midday trading on Friday, reaching $41.50. 6,244,296 shares of the company traded hands, compared to its average volume of 6,718,374. Toast, Inc. has a 52-week low of $22.10 and a 52-week high of $45.56. The business has a 50 day moving average of $39.06 and a 200-day moving average of $38.01. The firm has a market capitalization of $20.67 billion, a price-to-earnings ratio of -4,145.85, a P/E/G ratio of 2.16 and a beta of 2.02.

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.