Harvest Fund Management Co. Ltd Has $247,000 Stake in Toast, Inc. (NYSE:TOST)

Harvest Fund Management Co. Ltd reduced its stake in shares of Toast, Inc. (NYSE:TOST) by 42.8% in the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 8,722 shares of the company’s stock after selling 6,519 shares during the quarter. Harvest Fund Management Co. Ltd’s holdings in Toast were worth $247,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently made changes to their positions in the stock. West Branch Capital LLC acquired a new stake in shares of Toast during the 2nd quarter worth about $26,000. LRI Investments LLC bought a new position in shares of Toast in the first quarter valued at approximately $27,000. Toth Financial Advisory Corp acquired a new position in shares of Toast in the 3rd quarter worth approximately $28,000. Thurston Springer Miller Herd & Titak Inc. bought a new stake in Toast during the 2nd quarter worth approximately $33,000. Finally, 1620 Investment Advisors Inc. acquired a new stake in Toast during the 2nd quarter valued at $34,000. 82.91% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

TOST has been the topic of a number of recent analyst reports. Compass Point initiated coverage on Toast in a research note on Wednesday, November 20th. They issued a “buy” rating and a $49.00 price objective on the stock. Deutsche Bank Aktiengesellschaft increased their price objective on shares of Toast from $24.00 to $30.00 and gave the stock a “hold” rating in a report on Monday, November 4th. JPMorgan Chase & Co. raised their price objective on shares of Toast from $28.00 to $36.00 and gave the company a “neutral” rating in a research report on Friday, November 8th. Bank of America increased their price target on shares of Toast from $26.00 to $28.00 and gave the company a “neutral” rating in a research note on Tuesday, September 17th. Finally, Piper Sandler boosted their price objective on shares of Toast from $25.00 to $35.00 and gave the stock a “neutral” rating in a research report on Monday, November 11th. One investment analyst has rated the stock with a sell rating, ten have issued a hold rating and eleven have given a buy rating to the stock. According to data from MarketBeat.com, the company currently has an average rating of “Hold” and a consensus price target of $33.86.

Insiders Place Their Bets

In other Toast news, Director Richard Kent Bennett sold 22,885 shares of Toast stock in a transaction that occurred on Wednesday, November 20th. The shares were sold at an average price of $41.96, for a total value of $960,254.60. Following the transaction, the director now owns 395,706 shares of the company’s stock, valued at approximately $16,603,823.76. The trade was a 5.47 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, CEO Aman Narang sold 10,106 shares of the stock in a transaction on Wednesday, October 2nd. The stock was sold at an average price of $27.77, for a total transaction of $280,643.62. Following the sale, the chief executive officer now directly owns 968,095 shares of the company’s stock, valued at $26,883,998.15. This represents a 1.03 % decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 1,498,536 shares of company stock worth $43,997,467. Corporate insiders own 13.32% of the company’s stock.

Toast Trading Up 0.5 %

TOST opened at $43.22 on Wednesday. The firm’s fifty day moving average is $31.78 and its two-hundred day moving average is $27.32. Toast, Inc. has a twelve month low of $14.00 and a twelve month high of $44.12.

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.