Assenagon Asset Management S.A. Trims Stake in Toast, Inc. (NYSE:TOST)

Assenagon Asset Management S.A. cut its holdings in Toast, Inc. (NYSE:TOST - Free Report) by 27.2% during the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 175,571 shares of the company's stock after selling 65,456 shares during the quarter. Assenagon Asset Management S.A.'s holdings in Toast were worth $5,824,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds also recently bought and sold shares of TOST. Blue Trust Inc. raised 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 buying an additional 378 shares in the last quarter. SBI Securities Co. Ltd. purchased a new position in shares of Toast during the 4th quarter worth approximately $35,000. Piscataqua Savings Bank raised its position in shares of Toast by 57.1% in the 1st quarter. Piscataqua Savings Bank now owns 1,100 shares of the company's stock worth $36,000 after acquiring an additional 400 shares in the last quarter. Manchester Capital Management LLC lifted its stake in shares of Toast by 14,488.9% in the 4th quarter. Manchester Capital Management LLC now owns 1,313 shares of the company's stock valued at $48,000 after purchasing an additional 1,304 shares during the period. Finally, LRI Investments LLC lifted its stake in shares of Toast by 51.6% in the 4th quarter. LRI Investments LLC now owns 1,516 shares of the company's stock valued at $55,000 after purchasing an additional 516 shares during the period. Hedge funds and other institutional investors own 82.91% of the company's stock.

Insider Activity at Toast

In other Toast news, Director Christopher P. Comparato sold 70,000 shares of the stock in a transaction dated Thursday, April 17th. The stock was sold at an average price of $34.21, for a total value of $2,394,700.00. Following the transaction, the director now owns 179,316 shares of the company's stock, valued at approximately $6,134,400.36. This represents a 28.08% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, General Counsel Brian R. Elworthy sold 300,000 shares of the firm's stock in a transaction dated Monday, June 2nd. The stock was sold at an average price of $42.60, for a total value of $12,780,000.00. Following the completion of the transaction, the general counsel now directly owns 216,156 shares in the company, valued at $9,208,245.60. The trade was a 58.12% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 538,212 shares of company stock worth $22,051,606 over the last quarter. Company insiders own 13.32% of the company's stock.

Analyst Upgrades and Downgrades

A number of equities analysts have issued reports on TOST shares. Evercore ISI began coverage on Toast in a report on Wednesday, April 9th. They issued an "in-line" rating and a $29.00 price objective for the company. Robert W. Baird increased their price target on shares of Toast from $38.00 to $40.00 and gave the stock a "neutral" rating in a research note on Thursday, February 20th. BMO Capital Markets boosted their price objective on shares of Toast from $44.00 to $45.00 and gave the stock an "outperform" rating in a research note on Monday, May 12th. UBS Group upped their price objective on shares of Toast from $41.00 to $47.00 and gave the stock a "buy" rating in a report on Thursday, February 20th. Finally, Wall Street Zen lowered shares of Toast from a "strong-buy" rating to a "buy" rating in a report on Sunday, June 1st. Twelve research analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the stock. Based on data from MarketBeat, Toast currently has an average rating of "Moderate Buy" and a consensus price target of $41.21.

Toast Trading Up 0.2%

NYSE:TOST traded up $0.08 during mid-day trading on Wednesday, reaching $42.54. The company's stock had a trading volume of 2,676,498 shares, compared to its average volume of 6,676,021. The stock has a market cap of $21.18 billion, a P/E ratio of 184.76 and a beta of 2.02. The firm's fifty day moving average price is $39.48 and its two-hundred day moving average price is $38.00. Toast, Inc. has a 12-month low of $22.10 and a 12-month high of $45.56.

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.