Richard Bernstein Advisors LLC Takes $2.64 Million Position in Toast, Inc. (NYSE:TOST)

Richard Bernstein Advisors LLC bought a new stake in Toast, Inc. (NYSE:TOST - Free Report) during the 1st quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm bought 79,573 shares of the company's stock, valued at approximately $2,639,000.

Several other large investors also recently bought and sold shares of the company. Arrowstreet Capital Limited Partnership purchased a new stake in shares of Toast in the fourth quarter valued at approximately $282,010,000. Norges Bank purchased a new position in shares of Toast during the fourth quarter worth $205,888,000. Principal Financial Group Inc. boosted its position in shares of Toast by 14,258.8% during the first quarter. Principal Financial Group Inc. now owns 5,474,443 shares of the company's stock worth $181,587,000 after buying an additional 5,436,317 shares during the period. FMR LLC boosted its position in shares of Toast by 22.1% during the fourth quarter. FMR LLC now owns 29,853,639 shares of the company's stock worth $1,088,165,000 after buying an additional 5,403,896 shares during the period. Finally, Vanguard Group Inc. raised its stake in shares of Toast by 10.8% in the fourth quarter. Vanguard Group Inc. now owns 42,474,232 shares of the company's stock valued at $1,548,186,000 after acquiring 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.

Insider Buying and Selling

In other Toast news, CFO Elena Gomez sold 34,170 shares of the business's stock in a transaction on Wednesday, July 2nd. The stock was sold at an average price of $42.56, for a total value of $1,454,275.20. Following the completion of the transaction, the chief financial officer directly owned 139,357 shares in the company, valued at approximately $5,931,033.92. The trade was a 19.69% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, Director Christopher P. Comparato sold 70,000 shares of the business's stock in a transaction on Wednesday, May 14th. The shares were sold at an average price of $44.74, for a total transaction of $3,131,800.00. Following the sale, the director directly owned 187,140 shares of the company's stock, valued at $8,372,643.60. This represents a 27.22% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 536,131 shares of company stock worth $22,443,551 in the last three months. 13.32% of the stock is currently owned by insiders.

Wall Street Analysts Forecast Growth

A number of analysts have weighed in on TOST shares. Wells Fargo & Company raised their price target on Toast from $39.00 to $46.00 and gave the company an "overweight" rating in a research note on Friday, May 9th. Morgan Stanley lifted their target price 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 lowered their price target on Toast from $42.00 to $40.00 and set a "neutral" rating on the stock in a report on Wednesday, April 30th. BMO Capital Markets lifted their price objective on Toast from $44.00 to $45.00 and gave the company an "outperform" rating in a report on Monday, May 12th. Finally, Evercore ISI initiated coverage on Toast in a report on Wednesday, April 9th. They issued an "in-line" rating and a $29.00 price objective on the stock. Thirteen research analysts have rated the stock with a hold rating and twelve have given a buy rating to the company. Based on data from MarketBeat.com, the company currently has a consensus rating of "Hold" and a consensus price target of $41.21.

Toast Price Performance

TOST traded down $1.30 during trading on Tuesday, hitting $43.53. The company's stock had a trading volume of 13,194,393 shares, compared to its average volume of 7,033,401. The firm's 50 day moving average price is $41.91 and its 200-day moving average price is $38.45. The stock has a market cap of $21.68 billion, a PE ratio of 189.26 and a beta of 2.00. Toast, Inc. has a twelve month low of $22.10 and a twelve month high of $46.57.

About Toast

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.