Toast, Inc. (NYSE:TOST) Stock Position Lifted by Allianz Asset Management GmbH

Allianz Asset Management GmbH increased its stake in Toast, Inc. (NYSE:TOST - Free Report) by 408.8% in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 106,672 shares of the company's stock after acquiring an additional 85,705 shares during the period. Allianz Asset Management GmbH's holdings in Toast were worth $3,538,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in TOST. Montag A & Associates Inc. boosted its position in shares of Toast by 1,210.8% during the first quarter. Montag A & Associates Inc. now owns 1,704 shares of the company's stock valued at $57,000 after buying an additional 1,574 shares during the period. IFP Advisors Inc boosted its position in shares of Toast by 46.4% during the first quarter. IFP Advisors Inc now owns 14,641 shares of the company's stock valued at $486,000 after buying an additional 4,639 shares during the period. Morse Asset Management Inc purchased a new position in shares of Toast during the first quarter valued at approximately $212,000. Kestra Private Wealth Services LLC lifted its holdings in Toast by 15.5% during the first quarter. Kestra Private Wealth Services LLC now owns 40,781 shares of the company's stock worth $1,353,000 after buying an additional 5,477 shares during the period. Finally, Financial Harvest LLC purchased a new stake in Toast during the first quarter worth $15,785,000. Hedge funds and other institutional investors own 82.91% of the company's stock.

Analyst Ratings Changes

TOST has been the topic of a number of recent analyst reports. BMO Capital Markets upped their price target on Toast from $44.00 to $45.00 and gave the stock an "outperform" rating in a research report on Monday, May 12th. Piper Sandler upped their price target on Toast from $35.00 to $37.00 and gave the stock a "neutral" rating in a research report on Friday, May 9th. Wolfe Research raised Toast from a "peer perform" rating to an "outperform" rating and set a $44.00 price target on the stock in a research report on Wednesday, April 23rd. Jefferies Financial Group upped their target price on Toast from $50.00 to $54.00 and gave the company a "buy" rating in a research report on Friday, July 18th. Finally, Wall Street Zen downgraded Toast from a "buy" rating to a "hold" rating in a research report on Saturday, July 5th. Twelve analysts have rated the stock with a hold rating and fifteen have assigned a buy rating to the company. Based on data from MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and an average price target of $43.42.

Toast Stock Performance

Shares of NYSE TOST traded down $2.10 during midday trading on Friday, hitting $46.74. The company's stock had a trading volume of 8,977,786 shares, compared to its average volume of 7,162,285. Toast, Inc. has a 1-year low of $22.10 and a 1-year high of $49.56. The firm's fifty day moving average price is $44.07 and its 200-day moving average price is $39.50. The firm has a market cap of $23.28 billion, a P/E ratio of 203.22 and a beta of 2.00.

Insiders Place Their Bets

In other Toast news, General Counsel Brian R. Elworthy sold 300,000 shares of the business'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 directly owned 216,156 shares of the company's stock, valued at $9,208,245.60. The trade was a 58.12% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CFO Elena Gomez sold 34,170 shares of the business's stock in a transaction that occurred on Wednesday, July 2nd. The stock was sold at an average price of $42.56, for a total transaction of $1,454,275.20. Following the completion of the sale, the chief financial officer owned 139,357 shares in the company, valued at $5,931,033.92. The trade was a 19.69% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders sold 466,131 shares of company stock worth $20,048,851. Corporate insiders own 13.32% of the company's stock.

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.