Victory Capital Management Inc. Increases Stock Position in Toast, Inc. (NYSE:TOST)

Victory Capital Management Inc. grew its position in Toast, Inc. (NYSE:TOST - Free Report) by 9.4% in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 130,046 shares of the company's stock after purchasing an additional 11,207 shares during the period. Victory Capital Management Inc.'s holdings in Toast were worth $4,314,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds also recently made changes to their positions in TOST. American Century Companies Inc. increased its holdings in Toast by 330.0% during the fourth quarter. American Century Companies Inc. now owns 335,965 shares of the company's stock worth $12,246,000 after buying an additional 257,831 shares during the last quarter. Prudential Financial Inc. increased its stake in shares of Toast by 72.9% in the fourth quarter. Prudential Financial Inc. now owns 29,500 shares of the company's stock worth $1,075,000 after purchasing an additional 12,440 shares in the last quarter. Mitsubishi UFJ Trust & Banking Corp increased its stake in shares of Toast by 15.1% in the fourth quarter. Mitsubishi UFJ Trust & Banking Corp now owns 185,105 shares of the company's stock worth $6,747,000 after purchasing an additional 24,258 shares in the last quarter. Korea Investment CORP increased its stake in shares of Toast by 2,350.0% in the fourth quarter. Korea Investment CORP now owns 236,868 shares of the company's stock worth $8,634,000 after purchasing an additional 227,200 shares in the last quarter. Finally, Mitsubishi UFJ Asset Management Co. Ltd. increased its stake in shares of Toast by 20.9% in the fourth quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 361,512 shares of the company's stock worth $13,593,000 after purchasing an additional 62,421 shares in the last quarter. Hedge funds and other institutional investors own 82.91% of the company's stock.

Toast Trading Up 1.4%

Shares of Toast stock opened at $48.76 on Friday. The company's fifty day simple moving average is $43.78 and its two-hundred day simple moving average is $39.27. The company has a market cap of $24.28 billion, a P/E ratio of 211.98 and a beta of 2.00. Toast, Inc. has a 12-month low of $22.10 and a 12-month high of $49.20.

Wall Street Analyst Weigh In

TOST has been the subject of several recent research reports. Barclays reiterated an "overweight" rating on shares of Toast in a research note on Wednesday, July 16th. DA Davidson cut their price objective on shares of Toast from $42.00 to $40.00 and set a "neutral" rating for the company in a research report on Wednesday, April 30th. Morgan Stanley raised their price objective on shares of Toast from $46.00 to $50.00 and gave the company an "overweight" rating in a research report on Friday, May 9th. BMO Capital Markets lifted their target price on shares of Toast from $44.00 to $45.00 and gave the company an "outperform" rating in a research report on Monday, May 12th. Finally, Wells Fargo & Company initiated coverage on shares of Toast in a research report on Wednesday, July 16th. They set a "buy" rating for the company. Twelve research analysts have rated the stock with a hold rating and fifteen have issued a buy rating to the company's stock. According to data from MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and an average target price of $43.17.

Insider Buying and Selling at Toast

In other Toast news, 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 transaction, the director directly owned 187,140 shares of the company's stock, valued at approximately $8,372,643.60. The trade was a 27.22% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO Aman Narang sold 13,829 shares of the business's stock in a transaction on Wednesday, July 2nd. The shares were sold at an average price of $42.59, for a total transaction of $588,977.11. Following the transaction, the chief executive officer directly owned 302,498 shares in the company, valued at approximately $12,883,389.82. The trade was a 4.37% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders sold 466,131 shares of company stock worth $20,048,851. 13.32% of the stock is owned by corporate insiders.

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.

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