Assenagon Asset Management S.A. Sells 3,588,968 Shares of Toast, Inc. (NYSE:TOST)

Assenagon Asset Management S.A. trimmed its position in Toast, Inc. (NYSE:TOST) by 93.7% in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 241,027 shares of the company’s stock after selling 3,588,968 shares during the quarter. Assenagon Asset Management S.A. owned 0.05% of Toast worth $8,785,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Toth Financial Advisory Corp bought a new position in shares of Toast during the third quarter valued at approximately $28,000. Raleigh Capital Management Inc. boosted its position in Toast by 93.4% during the 3rd quarter. Raleigh Capital Management Inc. now owns 1,491 shares of the company’s stock valued at $42,000 after acquiring an additional 720 shares in the last quarter. Farther Finance Advisors LLC increased its holdings in shares of Toast by 32.3% in the 3rd quarter. Farther Finance Advisors LLC now owns 2,033 shares of the company’s stock valued at $58,000 after acquiring an additional 496 shares during the period. Wilmington Savings Fund Society FSB bought a new position in shares of Toast in the 3rd quarter worth $59,000. Finally, Truvestments Capital LLC purchased a new stake in shares of Toast during the 3rd quarter worth $65,000. Institutional investors own 82.91% of the company’s stock.

Toast Price Performance

NYSE:TOST opened at $37.76 on Monday. The company’s fifty day moving average price is $38.91 and its 200-day moving average price is $31.02. The firm has a market capitalization of $17.78 billion, a P/E ratio of -290.46, a PEG ratio of 1.83 and a beta of 1.97. Toast, Inc. has a 1-year low of $16.13 and a 1-year high of $44.12.

Analyst Ratings Changes

TOST has been the topic of several analyst reports. Royal Bank of Canada lifted their target price on Toast from $27.00 to $40.00 and gave the company a “sector perform” rating in a research note on Friday, November 8th. Keefe, Bruyette & Woods lifted their price objective on shares of Toast from $29.00 to $40.00 and gave the stock a “market perform” rating in a research report on Monday, December 9th. Compass Point began coverage on shares of Toast in a research note on Wednesday, November 20th. They set a “buy” rating and a $49.00 price objective for the company. Stephens raised their target price 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. Finally, JPMorgan Chase & Co. upped their price target on Toast from $28.00 to $36.00 and gave the stock a “neutral” rating in a research report on Friday, November 8th. One investment analyst has rated the stock with a sell rating, twelve have issued a hold rating and ten have assigned a buy rating to the stock. According to data from MarketBeat.com, Toast has an average rating of “Hold” and an average target price of $35.27.

Insider Activity

In other Toast news, Director David Yuan sold 189,785 shares of the stock in a transaction that occurred on Monday, November 25th. The stock was sold at an average price of $43.01, for a total transaction of $8,162,652.85. Following the transaction, the director now owns 198,829 shares in the company, valued at approximately $8,551,635.29. This represents a 48.84 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, CRO Jonathan Vassil sold 1,367 shares of the firm’s stock in a transaction that occurred on Monday, November 4th. The shares were sold at an average price of $31.08, for a total value of $42,486.36. Following the completion of the sale, the executive now directly owns 39,834 shares in the company, valued at approximately $1,238,040.72. The trade was a 3.32 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 562,600 shares of company stock valued at $21,823,932 in the last three months. 13.32% of the stock is currently owned by corporate insiders.

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.