Toast, Inc. $TOST Shares Bought by Allianz Asset Management GmbH

Allianz Asset Management GmbH grew its stake in shares of Toast, Inc. (NYSE:TOST) by 322.0% in the 3rd quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 362,765 shares of the company’s stock after buying an additional 276,803 shares during the period. Allianz Asset Management GmbH owned 0.07% of Toast worth $13,245,000 as of its most recent SEC filing.

Several other large investors have also made changes to their positions in TOST. Jennison Associates LLC grew its position in Toast by 331.0% during the second quarter. Jennison Associates LLC now owns 8,601,887 shares of the company’s stock valued at $380,978,000 after acquiring an additional 6,606,245 shares during the period. Norges Bank acquired a new position in shares of Toast in the 2nd quarter valued at about $219,324,000. Marshall Wace LLP lifted its stake in shares of Toast by 108.3% in the 2nd quarter. Marshall Wace LLP now owns 7,887,409 shares of the company’s stock valued at $349,333,000 after purchasing an additional 4,100,104 shares in the last quarter. Sumitomo Mitsui Trust Group Inc. grew its holdings in shares of Toast by 35.8% during the 3rd quarter. Sumitomo Mitsui Trust Group Inc. now owns 7,517,216 shares of the company’s stock worth $274,454,000 after purchasing an additional 1,982,566 shares during the period. Finally, 1832 Asset Management L.P. grew its holdings in shares of Toast by 65.1% during the 2nd quarter. 1832 Asset Management L.P. now owns 4,314,200 shares of the company’s stock worth $191,076,000 after purchasing an additional 1,701,900 shares during the period. 82.91% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several research firms recently commented on TOST. Morgan Stanley raised their price target on shares of Toast from $54.00 to $56.00 and gave the company an “overweight” rating in a report on Wednesday, November 5th. Royal Bank Of Canada set a $45.00 target price on shares of Toast in a research note on Wednesday, November 5th. Wolfe Research cut shares of Toast from an “outperform” rating to a “peer perform” rating in a research report on Thursday, January 8th. Truist Financial set a $42.00 price target on Toast in a report on Tuesday, January 20th. Finally, Oppenheimer reduced their price objective on Toast from $49.00 to $48.00 and set an “outperform” rating on the stock in a research note on Monday, January 12th. Two analysts have rated the stock with a Strong Buy rating, thirteen have issued a Buy rating and eight have assigned a Hold rating to the company’s stock. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus target price of $45.55.

Toast Price Performance

NYSE:TOST opened at $27.71 on Friday. The firm has a 50-day moving average of $34.24 and a two-hundred day moving average of $37.91. The stock has a market cap of $14.27 billion, a P/E ratio of 64.44 and a beta of 1.93. Toast, Inc. has a 1-year low of $26.92 and a 1-year high of $49.66.

Insider Activity

In other news, President Stephen Fredette sold 1,060 shares of the stock in a transaction that occurred on Tuesday, February 3rd. The stock was sold at an average price of $30.34, for a total transaction of $32,160.40. Following the completion of the transaction, the president directly owned 913,067 shares in the company, valued at approximately $27,702,452.78. This represents a 0.12% decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, CRO Jonathan Vassil sold 1,454 shares of the firm’s stock in a transaction that occurred on Tuesday, February 3rd. The stock was sold at an average price of $30.34, for a total transaction of $44,114.36. Following the sale, the executive directly owned 139,893 shares of the company’s stock, valued at $4,244,353.62. The trade was a 1.03% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold 100,856 shares of company stock worth $3,540,449 over the last quarter. Corporate insiders own 12.14% of the company’s stock.

Toast Company Profile

Toast, Inc (NYSE: TOST) is a technology company that builds a cloud-based platform for restaurants and other foodservice businesses. Headquartered in Boston, Massachusetts, Toast offers integrated point-of-sale (POS) systems and a suite of software and hardware designed to streamline front-of-house and back-of-house operations. The company went public in 2021 and has positioned itself as a vertically integrated provider for the restaurant industry.

Toast’s product portfolio includes touchscreen POS terminals and handheld order-and-pay devices, kitchen display systems, and peripherals tailored for high-volume foodservice environments.