Rhumbline Advisers Has $19.97 Million Stake in Toast, Inc. (NYSE:TOST)

Rhumbline Advisers raised its stake in Toast, Inc. (NYSE:TOST - Free Report) by 3.3% in the 1st quarter, according to its most recent disclosure with the SEC. The fund owned 602,083 shares of the company's stock after purchasing an additional 19,457 shares during the quarter. Rhumbline Advisers owned 0.12% of Toast worth $19,971,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently bought and sold shares of the stock. Sumitomo Mitsui DS Asset Management Company Ltd raised its holdings in shares of Toast by 0.8% during the fourth quarter. Sumitomo Mitsui DS Asset Management Company Ltd now owns 38,632 shares of the company's stock valued at $1,408,000 after acquiring an additional 301 shares in the last quarter. Keel Point LLC grew its stake in Toast by 2.7% in the fourth quarter. Keel Point LLC now owns 12,269 shares of the company's stock worth $447,000 after purchasing an additional 326 shares during the period. EverSource Wealth Advisors LLC grew its stake in Toast by 11.6% in the fourth quarter. EverSource Wealth Advisors LLC now owns 3,435 shares of the company's stock worth $125,000 after purchasing an additional 358 shares during the period. Blue Trust Inc. grew its stake in Toast by 120.4% in the fourth quarter. Blue Trust Inc. now owns 692 shares of the company's stock worth $25,000 after purchasing an additional 378 shares during the period. Finally, Farther Finance Advisors LLC grew its stake in Toast by 19.8% in the fourth quarter. Farther Finance Advisors LLC now owns 2,435 shares of the company's stock worth $89,000 after purchasing an additional 402 shares during the period. Institutional investors own 82.91% of the company's stock.

Analyst Upgrades and Downgrades

A number of research firms have recently commented on TOST. Wall Street Zen cut Toast from a "strong-buy" rating to a "buy" rating in a research note on Sunday, June 1st. Piper Sandler lifted their target price on Toast from $35.00 to $37.00 and gave the company a "neutral" rating in a research report on Friday, May 9th. BNP Paribas set a $37.00 target price on Toast and gave the stock a "neutral" rating in a research note on Wednesday, February 19th. Morgan Stanley boosted their target price on Toast from $46.00 to $50.00 and gave the stock an "overweight" rating in a research note on Friday, May 9th. Finally, Truist Financial began coverage on Toast in a research note on Monday, June 2nd. They set a "buy" rating and a $48.00 price target on the stock. Twelve research analysts have rated the stock with a hold rating and thirteen have given a buy rating to the company's stock. According to data from MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and an average target price of $41.21.

Insider Buying and Selling at Toast

In other Toast news, President Stephen Fredette sold 44,056 shares of the business's stock in a transaction dated Wednesday, March 19th. The shares were sold at an average price of $35.15, for a total value of $1,548,568.40. Following the transaction, the president now directly owns 1,447,717 shares in the company, valued at $50,887,252.55. The trade was a 2.95% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Deval L. Patrick sold 34,222 shares of the business's stock in a transaction dated Thursday, March 13th. The shares were sold at an average price of $33.01, for a total transaction of $1,129,668.22. Following the completion of the transaction, the director now owns 13,260 shares in the company, valued at approximately $437,712.60. This trade represents a 72.07% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders sold 646,651 shares of company stock valued at $25,640,334. 13.32% of the stock is currently owned by company insiders.

Toast Trading Up 2.9%

NYSE TOST traded up $1.24 on Friday, reaching $44.06. The company's stock had a trading volume of 5,613,436 shares, compared to its average volume of 6,785,482. The firm has a market cap of $21.94 billion, a PE ratio of -4,401.60, a price-to-earnings-growth ratio of 2.16 and a beta of 2.02. The business has a 50-day moving average price of $37.97 and a 200 day moving average price of $38.05. Toast, Inc. has a 52 week low of $21.32 and a 52 week high of $45.56.

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.