Raymond James Trust N.A. Boosts Stock Position in Toast, Inc. (NYSE:TOST)

Raymond James Trust N.A. grew its stake in Toast, Inc. (NYSE:TOST) by 103.4% in the third quarter, Holdings Channel.com reports. The firm owned 41,500 shares of the company’s stock after acquiring an additional 21,100 shares during the quarter. Raymond James Trust N.A.’s holdings in Toast were worth $1,175,000 at the end of the most recent reporting period.

A number of other large investors have also made changes to their positions in the stock. Charles Schwab Investment Management Inc. grew its position in shares of Toast by 4.3% in the third quarter. Charles Schwab Investment Management Inc. now owns 2,783,041 shares of the company’s stock valued at $78,788,000 after purchasing an additional 113,995 shares in the last quarter. Makena Capital Management LLC lifted its holdings in Toast by 7.6% in the third quarter. Makena Capital Management LLC now owns 274,392 shares of the company’s stock valued at $7,768,000 after acquiring an additional 19,371 shares during the last quarter. B. Metzler seel. Sohn & Co. Holding AG acquired a new position in Toast in the third quarter valued at approximately $257,000. Fifth Third Wealth Advisors LLC acquired a new position in Toast in the third quarter valued at approximately $1,912,000. Finally, Quest Partners LLC acquired a new position in Toast in the third quarter valued at approximately $1,391,000. 82.91% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of research firms recently commented on TOST. BNP Paribas cut Toast from an “outperform” rating to a “neutral” rating and set a $37.00 price objective on the stock. in a report on Wednesday, November 20th. Piper Sandler upped their price objective on Toast from $25.00 to $35.00 and gave the company a “neutral” rating in a report on Monday, November 11th. DA Davidson upped their price target on Toast from $35.00 to $44.00 and gave the stock a “buy” rating in a research note on Tuesday, November 12th. Bank of America upped their price target on Toast from $26.00 to $28.00 and gave the stock a “neutral” rating in a research note on Tuesday, September 17th. Finally, The Goldman Sachs Group upped their price target on Toast from $29.00 to $33.00 and gave the stock a “buy” rating in a research note on Monday, October 14th. One research analyst has rated the stock with a sell rating, ten have issued a hold rating and eleven have issued a buy rating to the company’s stock. According to MarketBeat, the company presently has an average rating of “Hold” and an average price target of $33.86.

Insider Activity at Toast

In other Toast news, President Stephen Fredette sold 211,686 shares of the firm’s stock in a transaction dated Tuesday, September 10th. The stock was sold at an average price of $23.57, for a total transaction of $4,989,439.02. Following the transaction, the president now owns 2,638,023 shares of the company’s stock, valued at approximately $62,178,202.11. This trade represents a 7.43 % 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, Director Richard Kent Bennett sold 22,885 shares of the firm’s stock in a transaction dated Wednesday, November 20th. The stock was sold at an average price of $41.96, for a total value of $960,254.60. Following the transaction, the director now directly owns 395,706 shares in the company, valued at approximately $16,603,823.76. The trade was a 5.47 % 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 over the last quarter. 13.32% of the stock is owned by insiders.

Toast Price Performance

NYSE:TOST opened at $42.74 on Monday. The firm has a market capitalization of $20.13 billion, a PE ratio of -328.77, a price-to-earnings-growth ratio of 53.98 and a beta of 1.74. The business’s fifty day moving average price is $31.45 and its 200 day moving average price is $27.20. Toast, Inc. has a 12 month low of $13.92 and a 12 month high of $43.29.

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.