Toast, Inc. (NYSE:TOST) Shares Bought by Stephens Investment Management Group LLC

Stephens Investment Management Group LLC boosted its position in Toast, Inc. (NYSE:TOST - Free Report) by 1.7% during the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 2,046,828 shares of the company's stock after buying an additional 33,510 shares during the period. Stephens Investment Management Group LLC owned approximately 0.41% of Toast worth $67,893,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of TOST. Arrowstreet Capital Limited Partnership acquired a new stake in Toast in the fourth quarter valued at $282,010,000. Norges Bank acquired a new stake in Toast in the fourth quarter valued at $205,888,000. Principal Financial Group Inc. lifted its holdings in Toast by 14,258.8% in the first quarter. Principal Financial Group Inc. now owns 5,474,443 shares of the company's stock valued at $181,587,000 after acquiring an additional 5,436,317 shares during the period. FMR LLC lifted its holdings in Toast by 22.1% in the fourth quarter. FMR LLC now owns 29,853,639 shares of the company's stock valued at $1,088,165,000 after acquiring an additional 5,403,896 shares during the period. Finally, Vanguard Group Inc. lifted its holdings in 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 during the period. 82.91% of the stock is currently owned by hedge funds and other 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 transaction of $12,780,000.00. Following the completion of the transaction, the general counsel owned 216,156 shares of the company's stock, valued at $9,208,245.60. This represents a 58.12% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, CFO Elena Gomez sold 34,170 shares of the company's stock in a transaction dated Wednesday, July 2nd. The shares were sold at an average price of $42.56, for a total transaction of $1,454,275.20. Following the transaction, the chief financial officer directly owned 139,357 shares of the company's stock, valued at approximately $5,931,033.92. This represents a 19.69% decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 536,131 shares of company stock worth $22,443,551 in the last ninety days. Company insiders own 13.32% of the company's stock.

Toast Stock Performance

TOST stock traded down $0.86 during trading on Friday, hitting $43.40. The stock had a trading volume of 6,307,710 shares, compared to its average volume of 6,804,199. The company's 50 day moving average price is $42.57 and its two-hundred day moving average price is $38.61. Toast, Inc. has a 1-year low of $22.10 and a 1-year high of $46.57. The stock has a market cap of $21.61 billion, a price-to-earnings ratio of 188.70 and a beta of 2.00.

Wall Street Analysts Forecast Growth

A number of equities research analysts have commented on the company. Wall Street Zen downgraded Toast from a "buy" rating to a "hold" rating in a report on Saturday, July 5th. DA Davidson reduced their target price on Toast from $42.00 to $40.00 and set a "neutral" rating for the company in a report on Wednesday, April 30th. Evercore ISI initiated coverage on Toast in a research note on Wednesday, April 9th. They set an "in-line" rating and a $29.00 price target for the company. The Goldman Sachs Group cut their price target on Toast from $43.00 to $38.00 and set a "neutral" rating for the company in a research note on Wednesday, April 2nd. Finally, Morgan Stanley lifted their price target on Toast from $46.00 to $50.00 and gave the stock an "overweight" rating in a research note on Friday, May 9th. Thirteen research analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the stock. According to MarketBeat, the company presently has an average rating of "Hold" and an average price target of $41.21.

Toast 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.