Allspring Global Investments Holdings LLC Invests $302,000 in Toast, Inc. (NYSE:TOST)

Allspring Global Investments Holdings LLC purchased a new stake in shares of Toast, Inc. (NYSE:TOSTGet Rating) in the third quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor purchased 18,086 shares of the company’s stock, valued at approximately $302,000.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in TOST. Raymond James & Associates boosted its stake in Toast by 115.4% during the first quarter. Raymond James & Associates now owns 24,946 shares of the company’s stock valued at $542,000 after buying an additional 13,364 shares during the last quarter. HighTower Advisors LLC boosted its stake in Toast by 78.2% during the first quarter. HighTower Advisors LLC now owns 28,356 shares of the company’s stock valued at $616,000 after buying an additional 12,446 shares during the last quarter. Citigroup Inc. bought a new position in Toast during the first quarter valued at approximately $438,000. Ergoteles LLC bought a new position in Toast during the first quarter valued at approximately $2,427,000. Finally, First Trust Advisors LP bought a new position in Toast during the first quarter valued at approximately $33,356,000. 50.82% of the stock is owned by institutional investors.

Insiders Place Their Bets

In other news, major shareholder Bessemer Venture Partners Ix L sold 546,190 shares of Toast stock in a transaction on Friday, November 18th. The stock was sold at an average price of $18.50, for a total value of $10,104,515.00. The sale was disclosed in a filing with the SEC, which is available through this link. In other news, COO Aman Narang sold 583,091 shares of Toast stock in a transaction on Wednesday, December 28th. The stock was sold at an average price of $16.93, for a total value of $9,871,730.63. Following the transaction, the chief operating officer now directly owns 16,909 shares in the company, valued at approximately $286,269.37. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, major shareholder Bessemer Venture Partners Ix L sold 546,190 shares of Toast stock in a transaction on Friday, November 18th. The shares were sold at an average price of $18.50, for a total value of $10,104,515.00. The disclosure for this sale can be found here. Insiders have sold 9,356,016 shares of company stock worth $169,711,840 in the last ninety days. 20.16% of the stock is owned by company insiders.

Analyst Ratings Changes

Several equities research analysts have recently issued reports on TOST shares. Piper Sandler lowered their price objective on Toast from $26.00 to $22.00 and set an “overweight” rating for the company in a research note on Monday, January 9th. Wolfe Research started coverage on Toast in a research note on Tuesday, November 29th. They issued a “peer perform” rating and a $18.00 price objective for the company. William Blair reaffirmed an “outperform” rating on shares of Toast in a research note on Thursday, November 10th. Morgan Stanley raised their price objective on Toast from $29.00 to $30.00 and gave the company an “overweight” rating in a research note on Friday, November 11th. Finally, Mizuho raised Toast from a “neutral” rating to a “buy” rating and raised their price objective for the company from $22.00 to $24.00 in a research note on Monday, October 10th. One equities research analyst has rated the stock with a sell rating, seven have assigned a hold rating and eight have assigned a buy rating to the company. According to data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus target price of $23.50.

Toast Stock Down 3.9 %

TOST opened at $21.46 on Wednesday. The stock’s fifty day moving average is $18.55 and its two-hundred day moving average is $18.35. The company has a market capitalization of $10.98 billion, a P/E ratio of -29.40 and a beta of 1.58. Toast, Inc. has a 52 week low of $11.91 and a 52 week high of $30.60.

Toast (NYSE:TOSTGet Rating) last released its quarterly earnings data on Thursday, November 10th. The company reported ($0.19) EPS for the quarter, topping the consensus estimate of ($0.22) by $0.03. The company had revenue of $752.00 million for the quarter, compared to the consensus estimate of $714.61 million. Toast had a negative return on equity of 25.85% and a negative net margin of 6.99%. Equities analysts anticipate that Toast, Inc. will post -0.52 earnings per share for the current year.

Toast Profile

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Toast, Inc operates a cloud-based and digital technology platform for the restaurant industry in the United States and Ireland. The company offers Toast Point of Sale (POS), a hardware product; Toast Order & Pay, which allows guests to order and pay from their mobile devices; Toast Flex that is used for on-counter order and pay, as well as used as a server station, guest kiosk, kitchen display system, or order fulfillment station; Toast Go, a handheld POS device that enhances the table turn times through tableside ordering and payment acceptance; and Toast Tap, a card reader.

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Institutional Ownership by Quarter for Toast (NYSE:TOST)

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