67,527 Shares in Toast, Inc. (NYSE:TOST) Acquired by Fifth Third Wealth Advisors LLC

Fifth Third Wealth Advisors LLC acquired a new stake in Toast, Inc. (NYSE:TOST) in the 3rd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund acquired 67,527 shares of the company’s stock, valued at approximately $1,912,000.

Other institutional investors have also recently made changes to their positions in the company. Capital International Investors raised its holdings in Toast by 12.2% during the 1st quarter. Capital International Investors now owns 32,924,082 shares of the company’s stock valued at $820,468,000 after buying an additional 3,574,397 shares during the last quarter. Price T Rowe Associates Inc. MD raised its stake in shares of Toast by 21.4% during the first quarter. Price T Rowe Associates Inc. MD now owns 19,524,700 shares of the company’s stock valued at $486,557,000 after acquiring an additional 3,445,788 shares during the last quarter. Whale Rock Capital Management LLC purchased a new stake in shares of Toast during the first quarter worth about $179,111,000. XN LP boosted its holdings in shares of Toast by 40.9% during the first quarter. XN LP now owns 5,055,225 shares of the company’s stock worth $125,976,000 after purchasing an additional 1,467,339 shares during the period. Finally, Assenagon Asset Management S.A. grew its stake in shares of Toast by 2,889.8% in the third quarter. Assenagon Asset Management S.A. now owns 3,829,995 shares of the company’s stock worth $108,427,000 after purchasing an additional 3,701,893 shares during the last quarter. Hedge funds and other institutional investors own 82.91% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities research analysts have weighed in on TOST shares. Morgan Stanley increased their price objective on Toast from $30.00 to $33.00 and gave the stock an “overweight” rating in a report on Tuesday, October 22nd. Wedbush raised their price target on Toast from $35.00 to $45.00 and gave the stock an “outperform” rating in a research note on Friday, November 8th. Wells Fargo & Company boosted their price objective on shares of Toast from $23.00 to $25.00 and gave the company an “underweight” rating in a research report on Friday, November 8th. The Goldman Sachs Group raised their target price on shares of Toast from $29.00 to $33.00 and gave the stock a “buy” rating in a research report on Monday, October 14th. Finally, Needham & Company LLC reissued a “buy” rating and issued a $30.00 price target on shares of Toast in a research note on Wednesday, August 7th. One research analyst has rated the stock with a sell rating, nine have given a hold rating and eleven have given a buy rating to the company’s stock. Based on data from MarketBeat, the company currently has a consensus rating of “Hold” and a consensus price target of $32.75.

Insider Activity at Toast

In other news, CFO Elena Gomez sold 12,500 shares of the business’s stock in a transaction that occurred on Tuesday, October 1st. The shares were sold at an average price of $28.41, for a total transaction of $355,125.00. Following the completion of the transaction, the chief financial officer now directly owns 207,518 shares of the company’s stock, valued at $5,895,586.38. The trade was a 5.68 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, President Stephen Fredette sold 101,574 shares of the firm’s stock in a transaction that occurred on Thursday, September 12th. The stock was sold at an average price of $25.73, for a total transaction of $2,613,499.02. Following the completion of the sale, the president now owns 2,395,685 shares in the company, valued at $61,640,975.05. This represents a 4.07 % decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders have sold 1,475,651 shares of company stock valued at $43,037,212. 13.32% of the stock is owned by corporate insiders.

Toast Stock Up 6.7 %

NYSE:TOST opened at $42.51 on Wednesday. Toast, Inc. has a 52 week low of $13.77 and a 52 week high of $42.51. The stock has a market cap of $20.02 billion, a price-to-earnings ratio of -326.96, a PEG ratio of 51.74 and a beta of 1.74. The company’s 50 day moving average price is $30.45 and its 200-day moving average price is $26.83.

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.