Natixis Advisors LLC Raises Stock Position in Toast, Inc. (NYSE:TOST)

Natixis Advisors LLC raised its stake in shares of Toast, Inc. (NYSE:TOST) by 43.9% in the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 82,259 shares of the company’s stock after buying an additional 25,113 shares during the period. Natixis Advisors LLC’s holdings in Toast were worth $2,329,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently modified their holdings of the company. XN LP raised its stake in shares of Toast by 40.9% in the first quarter. XN LP now owns 5,055,225 shares of the company’s stock worth $125,976,000 after buying an additional 1,467,339 shares during the period. Assenagon Asset Management S.A. raised its stake in Toast by 2,889.8% during the 3rd quarter. Assenagon Asset Management S.A. now owns 3,829,995 shares of the company’s stock worth $108,427,000 after acquiring an additional 3,701,893 shares during the period. Marshall Wace LLP lifted its holdings in Toast by 175.8% during the second quarter. Marshall Wace LLP now owns 2,517,288 shares of the company’s stock valued at $64,871,000 after purchasing an additional 1,604,716 shares in the last quarter. Bank of New York Mellon Corp boosted its position in shares of Toast by 22.2% in the second quarter. Bank of New York Mellon Corp now owns 2,236,203 shares of the company’s stock worth $57,627,000 after purchasing an additional 406,686 shares during the period. Finally, Stephens Investment Management Group LLC increased its stake in shares of Toast by 13.1% in the third quarter. Stephens Investment Management Group LLC now owns 1,884,771 shares of the company’s stock worth $53,358,000 after purchasing an additional 218,959 shares in the last quarter. 82.91% of the stock is owned by institutional investors.

Toast Stock Performance

NYSE:TOST opened at $42.74 on Monday. The stock’s fifty day moving average is $31.45 and its 200 day moving average is $27.20. The firm has a market capitalization of $20.13 billion, a PE ratio of -328.77, a PEG ratio of 53.98 and a beta of 1.74. Toast, Inc. has a fifty-two week low of $13.92 and a fifty-two week high of $43.29.

Insider Buying and Selling

In other Toast news, President Stephen Fredette sold 101,574 shares of the business’s stock in a transaction dated Thursday, September 12th. The shares were sold at an average price of $25.73, for a total value of $2,613,499.02. Following the completion of the sale, the president now directly owns 2,395,685 shares of the company’s stock, valued at $61,640,975.05. The trade was a 4.07 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, General Counsel Brian R. Elworthy sold 300,000 shares of the stock in a transaction that occurred on Friday, October 18th. The stock was sold at an average price of $30.39, for a total value of $9,117,000.00. Following the completion of the transaction, the general counsel now directly owns 177,836 shares in the company, valued at approximately $5,404,436.04. This trade represents a 62.78 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 1,498,536 shares of company stock valued at $43,997,467 in the last ninety days. 13.32% of the stock is owned by company insiders.

Analyst Ratings Changes

Several research analysts recently weighed in on TOST shares. Royal Bank of Canada upped their target price on shares of Toast from $27.00 to $40.00 and gave the stock a “sector perform” rating in a report on Friday, November 8th. Wedbush increased their target price on Toast from $35.00 to $45.00 and gave the stock an “outperform” rating in a research report on Friday, November 8th. BNP Paribas cut Toast from an “outperform” rating to a “neutral” rating and set a $37.00 price target on the stock. in a report on Wednesday, November 20th. Piper Sandler upped their price target on Toast from $25.00 to $35.00 and gave the stock a “neutral” rating in a research note on Monday, November 11th. Finally, JPMorgan Chase & Co. boosted their target price on shares of Toast from $28.00 to $36.00 and gave the stock a “neutral” rating in a report on Friday, November 8th. One investment analyst has rated the stock with a sell rating, ten have given a hold rating and eleven have assigned a buy rating to the company. Based on data from MarketBeat.com, the stock currently has a consensus 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.