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

Richard Bernstein Advisors LLC acquired a new position in Toast, Inc. (NYSE:TOST - Free Report) during the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund acquired 79,573 shares of the company's stock, valued at approximately $2,639,000.

A number of other institutional investors and hedge funds also recently bought and sold shares of the business. Vanguard Group Inc. boosted 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 in the last quarter. Capital International Investors raised its position in shares of Toast by 1.9% during the fourth quarter. Capital International Investors now owns 41,961,233 shares of the company's stock worth $1,529,657,000 after acquiring an additional 785,641 shares during the last quarter. FMR LLC raised 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 acquiring an additional 5,403,896 shares during the last quarter. Arrowstreet Capital Limited Partnership bought a new stake in shares of Toast during the fourth quarter worth $282,010,000. Finally, Geode Capital Management LLC raised its position in shares of Toast by 2.9% during the fourth quarter. Geode Capital Management LLC now owns 7,061,739 shares of the company's stock worth $256,970,000 after acquiring an additional 195,805 shares during the last quarter. Institutional investors and hedge funds own 82.91% of the company's stock.

Insider Buying and Selling at Toast

In related news, Director Christopher P. Comparato sold 70,000 shares of the stock in a transaction that occurred on Wednesday, May 14th. The stock was sold at an average price of $44.74, for a total transaction of $3,131,800.00. Following the completion of the transaction, the director directly owned 187,140 shares of the company's stock, valued at approximately $8,372,643.60. This represents a 27.22% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, General Counsel Brian R. Elworthy sold 300,000 shares of the stock in a transaction that occurred on 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 transaction, the general counsel directly owned 216,156 shares of the company's stock, valued at $9,208,245.60. This trade represents a 58.12% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 536,131 shares of company stock valued at $22,443,551 in the last 90 days. 13.32% of the stock is currently owned by corporate insiders.

Toast Stock Down 1.9%

Shares of NYSE:TOST traded down $0.86 during mid-day trading on Friday, reaching $43.40. 6,307,710 shares of the stock were exchanged, compared to its average volume of 6,798,094. The company has a market cap of $21.61 billion, a P/E ratio of 188.70 and a beta of 2.00. Toast, Inc. has a one year low of $22.10 and a one year high of $46.57. The stock's 50 day simple moving average is $42.57 and its 200-day simple moving average is $38.61.

Wall Street Analyst Weigh In

TOST has been the subject of a number of recent research reports. Truist Financial initiated coverage on Toast in a research report on Monday, June 2nd. They set a "buy" rating and a $48.00 target price for the company. BMO Capital Markets boosted 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. DA Davidson dropped their target price on Toast from $42.00 to $40.00 and set a "neutral" rating for the company in a research report on Wednesday, April 30th. Wall Street Zen downgraded Toast from a "buy" rating to a "hold" rating in a research report on Saturday, July 5th. Finally, Wolfe Research upgraded Toast from a "peer perform" rating to an "outperform" rating and set a $44.00 price objective for the company in a report on Wednesday, April 23rd. Thirteen research analysts have rated the stock with a hold rating and twelve have issued a buy rating to the stock. According to MarketBeat.com, the company presently has an average rating of "Hold" and an average price target 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.