Principal Financial Group Inc. Boosts Stock Holdings in Toast, Inc. (NYSE:TOST)

Principal Financial Group Inc. boosted its stake in shares of Toast, Inc. (NYSE:TOST - Free Report) by 14,258.8% in the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 5,474,443 shares of the company's stock after buying an additional 5,436,317 shares during the quarter. Principal Financial Group Inc. owned approximately 1.11% of Toast worth $181,587,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also bought and sold shares of TOST. Xcel Wealth Management LLC purchased a new stake in Toast during the first quarter valued at approximately $2,465,000. Teacher Retirement System of Texas purchased a new position in shares of Toast during the 1st quarter valued at approximately $1,939,000. Kampmann Melissa S. increased its holdings in Toast by 1.2% in the first quarter. Kampmann Melissa S. now owns 50,345 shares of the company's stock valued at $1,670,000 after buying an additional 575 shares in the last quarter. Taylor Frigon Capital Management LLC increased its position in shares of Toast by 49.9% in the first quarter. Taylor Frigon Capital Management LLC now owns 60,655 shares of the company's stock valued at $2,012,000 after buying an additional 20,198 shares in the last quarter. Finally, Amalgamated Bank increased its holdings in Toast by 7.0% in the 1st quarter. Amalgamated Bank now owns 32,900 shares of the company's stock worth $1,091,000 after acquiring an additional 2,154 shares in the last quarter. 82.91% of the stock is owned by institutional investors.

Insider Transactions at Toast

In other news, General Counsel Brian R. Elworthy sold 300,000 shares of the company's stock in a transaction dated Monday, June 2nd. The shares were sold at an average price of $42.60, for a total value of $12,780,000.00. Following the completion of the sale, the general counsel directly owned 216,156 shares of the company's stock, valued at approximately $9,208,245.60. This represents a 58.12% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Paul D. Bell sold 11,000 shares of the company's stock in a transaction dated Thursday, May 15th. The shares were sold at an average price of $45.13, for a total transaction of $496,430.00. Following the completion of the sale, the director directly owned 229,680 shares of the company's stock, valued at $10,365,458.40. The trade was a 4.57% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 468,212 shares of company stock worth $19,551,906 over the last 90 days. Company insiders own 13.32% of the company's stock.

Toast Stock Performance

NYSE TOST traded up $1.04 on Friday, reaching $43.58. The stock had a trading volume of 3,304,047 shares, compared to its average volume of 6,725,563. The business's 50-day moving average price is $41.73 and its 200 day moving average price is $38.37. Toast, Inc. has a 12-month low of $22.10 and a 12-month high of $45.56. The stock has a market cap of $21.70 billion, a P/E ratio of 189.48 and a beta of 2.00.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently issued reports on TOST shares. Wolfe Research raised shares of Toast from a "peer perform" rating to an "outperform" rating and set a $44.00 target price for the company in a report on Wednesday, April 23rd. Truist Financial started coverage on shares of Toast in a research note on Monday, June 2nd. They set a "buy" rating and a $48.00 target price for the company. Morgan Stanley raised their price target on Toast from $46.00 to $50.00 and gave the stock an "overweight" rating in a research report on Friday, May 9th. DA Davidson decreased their price target on shares of Toast from $42.00 to $40.00 and set a "neutral" rating for the company in a research report on Wednesday, April 30th. Finally, The Goldman Sachs Group decreased their target price on Toast from $43.00 to $38.00 and set a "neutral" rating for the company in a report on Wednesday, April 2nd. Thirteen analysts have rated the stock with a hold rating and twelve have issued a buy rating to the company. Based on data from MarketBeat.com, Toast currently has a consensus rating of "Hold" and an average target price of $41.21.

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.