OVERSEA CHINESE BANKING Corp Ltd Buys New Position in Toast, Inc. (NYSE:TOST)

OVERSEA CHINESE BANKING Corp Ltd bought a new stake in shares of Toast, Inc. (NYSE:TOST - Free Report) in the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm bought 6,127 shares of the company's stock, valued at approximately $203,000.

Several other hedge funds and other institutional investors have also made changes to their positions in TOST. PNC Financial Services Group Inc. boosted its stake in shares of Toast by 115.3% in the 4th quarter. PNC Financial Services Group Inc. now owns 6,988 shares of the company's stock valued at $255,000 after buying an additional 3,742 shares during the period. Farther Finance Advisors LLC boosted its stake in shares of Toast by 19.8% in the 4th quarter. Farther Finance Advisors LLC now owns 2,435 shares of the company's stock valued at $89,000 after buying an additional 402 shares during the period. Natixis Advisors LLC boosted its stake in shares of Toast by 10.2% in the 4th quarter. Natixis Advisors LLC now owns 90,614 shares of the company's stock valued at $3,303,000 after buying an additional 8,355 shares during the period. Envestnet Portfolio Solutions Inc. boosted its stake in shares of Toast by 6.6% in the 4th quarter. Envestnet Portfolio Solutions Inc. now owns 19,967 shares of the company's stock valued at $728,000 after buying an additional 1,236 shares during the period. Finally, Xponance Inc. boosted its stake in shares of Toast by 15.7% in the 4th quarter. Xponance Inc. now owns 84,667 shares of the company's stock valued at $3,086,000 after buying an additional 11,463 shares during the period. Hedge funds and other institutional investors own 82.91% of the company's stock.

Analyst Upgrades and Downgrades

TOST has been the topic of several research analyst reports. Wells Fargo & Company initiated coverage on Toast in a research report on Wednesday. They set a "buy" rating on the stock. DA Davidson cut their target price 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 raised their target price on Toast from $44.00 to $45.00 and gave the stock an "outperform" rating in a research report on Monday, May 12th. The Goldman Sachs Group cut 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. Finally, Wolfe Research raised Toast from a "peer perform" rating to an "outperform" rating and set a $44.00 target price on the stock in a research report on Wednesday, April 23rd. Thirteen analysts have rated the stock with a hold rating and fourteen have given a buy rating to the company. Based on data from MarketBeat.com, Toast presently has a consensus rating of "Moderate Buy" and a consensus price target of $41.21.

Insider Buying and Selling

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

Toast Price Performance

Shares of NYSE TOST opened at $45.13 on Thursday. Toast, Inc. has a 1-year low of $22.10 and a 1-year high of $47.25. The business has a 50-day moving average of $43.11 and a 200-day moving average of $38.75. The company has a market capitalization of $22.48 billion, a price-to-earnings ratio of 196.23 and a beta of 2.00.

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.

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