Toast, Inc. (NYSE:TOST) Shares Sold by Principal Financial Group Inc.

Principal Financial Group Inc. lowered its position in shares of Toast, Inc. (NYSE:TOST) by 1.4% in the third quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 38,133 shares of the company’s stock after selling 530 shares during the period. Principal Financial Group Inc.’s holdings in Toast were worth $1,080,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in TOST. West Branch Capital LLC purchased a new stake in shares of Toast during the second quarter worth approximately $26,000. LRI Investments LLC acquired a new stake in shares of Toast in the 1st quarter valued at approximately $27,000. Toth Financial Advisory Corp purchased a new stake in shares of Toast during the 3rd quarter worth $28,000. Thurston Springer Miller Herd & Titak Inc. acquired a new position in Toast during the second quarter worth about $33,000. Finally, 1620 Investment Advisors Inc. acquired a new stake in shares of Toast in the 2nd quarter worth approximately $34,000. Hedge funds and other institutional investors own 82.91% of the company’s stock.

Toast Stock Up 0.9 %

TOST opened at $42.74 on Friday. Toast, Inc. has a 52-week low of $13.92 and a 52-week high of $43.29. The company has a 50 day moving average of $31.45 and a two-hundred day moving average of $27.18. The company has a market cap of $20.13 billion, a P/E ratio of -328.77, a P/E/G ratio of 53.98 and a beta of 1.74.

Insider Activity at Toast

In other Toast news, President Stephen Fredette sold 211,686 shares of the company’s stock in a transaction dated Tuesday, September 10th. The shares were sold at an average price of $23.57, for a total value of $4,989,439.02. Following the completion of the transaction, the president now directly owns 2,638,023 shares of the company’s stock, valued at $62,178,202.11. This represents a 7.43 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, CEO Aman Narang sold 10,106 shares of Toast stock in a transaction dated Wednesday, October 2nd. The stock was sold at an average price of $27.77, for a total value of $280,643.62. Following the sale, the chief executive officer now directly owns 968,095 shares in the company, valued at approximately $26,883,998.15. The trade was a 1.03 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders sold 1,498,536 shares of company stock worth $43,997,467. Corporate insiders own 13.32% of the company’s stock.

Analyst Upgrades and Downgrades

Several research analysts recently issued reports on TOST shares. Royal Bank of Canada lifted their price objective on Toast from $27.00 to $40.00 and gave the stock a “sector perform” rating in a research report on Friday, November 8th. Compass Point assumed coverage on Toast in a research note on Wednesday. They set a “buy” rating and a $49.00 price objective on the stock. Piper Sandler boosted their target price on shares of Toast from $25.00 to $35.00 and gave the company a “neutral” rating in a research note on Monday, November 11th. BNP Paribas cut shares of Toast from an “outperform” rating to a “neutral” rating and set a $37.00 price target on the stock. in a research note on Wednesday. Finally, Stephens upped their price objective on shares of Toast from $28.00 to $30.00 and gave the company an “equal weight” rating in a research note on Friday, October 18th. One investment analyst has rated the stock with a sell rating, ten have assigned a hold rating and eleven have given a buy rating to the stock. According to MarketBeat.com, the company currently has an average rating of “Hold” and a consensus target price of $33.86.

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.