Principal Financial Group Inc. Has $1.08 Million Stock Holdings in Toast, Inc. (NYSE:TOST)

Principal Financial Group Inc. lowered its holdings in shares of Toast, Inc. (NYSE:TOST) by 1.4% in the third quarter, according to its most recent 13F filing with the SEC. The institutional investor 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 SEC.

Other institutional investors and hedge funds have also modified their holdings of the company. D.A. Davidson & CO. raised its stake in Toast by 1.9% during the third quarter. D.A. Davidson & CO. now owns 22,100 shares of the company’s stock worth $626,000 after acquiring an additional 409 shares in the last quarter. Northwestern Mutual Wealth Management Co. grew its holdings in shares of Toast by 1.2% during the 2nd quarter. Northwestern Mutual Wealth Management Co. now owns 35,968 shares of the company’s stock valued at $927,000 after purchasing an additional 421 shares during the last quarter. Private Advisor Group LLC increased its position in Toast by 1.6% during the 3rd quarter. Private Advisor Group LLC now owns 28,151 shares of the company’s stock worth $797,000 after purchasing an additional 441 shares in the last quarter. CIBC Asset Management Inc lifted its stake in Toast by 3.7% in the 3rd quarter. CIBC Asset Management Inc now owns 12,614 shares of the company’s stock valued at $357,000 after purchasing an additional 448 shares during the last quarter. Finally, Farther Finance Advisors LLC boosted its position in Toast by 32.3% in the third quarter. Farther Finance Advisors LLC now owns 2,033 shares of the company’s stock valued at $58,000 after buying an additional 496 shares in the last quarter. 82.91% of the stock is currently owned by institutional investors.

Toast Price Performance

TOST stock opened at $37.60 on Friday. The company’s 50-day moving average is $37.83 and its 200-day moving average is $30.14. The stock has a market capitalization of $17.71 billion, a PE ratio of -289.23, a price-to-earnings-growth ratio of 23.40 and a beta of 1.93. Toast, Inc. has a 1 year low of $16.13 and a 1 year high of $44.12.

Insider Buying and Selling

In related news, Director Christopher P. Comparato sold 145,000 shares of the company’s stock in a transaction dated Thursday, December 19th. The shares were sold at an average price of $36.04, for a total value of $5,225,800.00. Following the sale, the director now owns 182,451 shares in the company, valued at $6,575,534.04. This represents a 44.28 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, President Stephen Fredette sold 40,459 shares of Toast stock in a transaction dated Wednesday, October 16th. The shares were sold at an average price of $29.04, for a total value of $1,174,929.36. Following the transaction, the president now owns 1,700,282 shares of the company’s stock, valued at $49,376,189.28. This trade represents a 2.32 % decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders have sold 1,149,075 shares of company stock valued at $39,389,680. 13.32% of the stock is owned by company insiders.

Analyst Upgrades and Downgrades

TOST has been the subject of a number of research reports. JPMorgan Chase & Co. increased their price target on Toast from $28.00 to $36.00 and gave the company a “neutral” rating in a research note on Friday, November 8th. Deutsche Bank Aktiengesellschaft lifted their price target on Toast from $24.00 to $30.00 and gave the company a “hold” rating in a research note on Monday, November 4th. Wells Fargo & Company upped their price objective on Toast from $23.00 to $25.00 and gave the company an “underweight” rating in a research note on Friday, November 8th. DA Davidson reiterated a “neutral” rating and set a $38.00 target price (down from $44.00) on shares of Toast in a research report on Thursday, December 5th. Finally, Piper Sandler upped their price target on shares of Toast from $25.00 to $35.00 and gave the company a “neutral” rating in a research report on Monday, November 11th. One equities research analyst has rated the stock with a sell rating, twelve have given a hold rating and nine have given a buy rating to the stock. According to MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus price target of $34.81.

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.