Toast, Inc. (NYSE:TOST) Shares Sold by BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp

BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp decreased its stake in Toast, Inc. (NYSE:TOST) by 9.7% during the 3rd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 60,487 shares of the company’s stock after selling 6,514 shares during the quarter. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp’s holdings in Toast were worth $1,712,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also modified their holdings of the company. West Branch Capital LLC acquired a new stake in Toast in the 2nd quarter worth about $26,000. Toth Financial Advisory Corp acquired a new stake in shares of Toast in the third quarter worth approximately $28,000. 1620 Investment Advisors Inc. purchased a new stake in shares of Toast during the second quarter worth approximately $34,000. Raleigh Capital Management Inc. raised its stake in Toast by 93.4% in the 3rd quarter. Raleigh Capital Management Inc. now owns 1,491 shares of the company’s stock valued at $42,000 after purchasing an additional 720 shares during the last quarter. Finally, Farther Finance Advisors LLC raised its stake in Toast by 32.3% in the 3rd quarter. Farther Finance Advisors LLC now owns 2,033 shares of the company’s stock valued at $58,000 after purchasing an additional 496 shares during the last quarter. Hedge funds and other institutional investors own 82.91% of the company’s stock.

Toast Trading Down 0.3 %

Shares of NYSE:TOST opened at $38.01 on Friday. The company has a market cap of $17.90 billion, a PE ratio of -292.38, a P/E/G ratio of 54.06 and a beta of 1.93. The company’s 50 day moving average is $34.11 and its two-hundred day moving average is $28.13. Toast, Inc. has a 52 week low of $14.45 and a 52 week high of $44.12.

Insider Activity at Toast

In other news, President Stephen Fredette sold 211,686 shares of the company’s stock in a transaction on Tuesday, September 10th. The shares were sold at an average price of $23.57, for a total value of $4,989,439.02. Following the completion of the transaction, the president now owns 2,638,023 shares in the company, valued at approximately $62,178,202.11. This represents a 7.43 % decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through this link. Also, Director David Yuan sold 189,785 shares of Toast stock in a transaction on Monday, November 25th. The stock was sold at an average price of $43.01, for a total transaction of $8,162,652.85. Following the sale, the director now owns 198,829 shares in the company, valued at $8,551,635.29. This represents a 48.84 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 1,688,321 shares of company stock valued at $52,160,120 over the last quarter. 13.32% of the stock is owned by insiders.

Analyst Ratings Changes

A number of research firms have recently issued reports on TOST. Royal Bank of Canada upped their target price on shares of Toast from $27.00 to $40.00 and gave the stock a “sector perform” rating in a report on Friday, November 8th. Morgan Stanley increased their price objective on shares of Toast from $30.00 to $33.00 and gave the company an “overweight” rating in a report on Tuesday, October 22nd. The Goldman Sachs Group restated a “neutral” rating and set a $45.00 target price (up from $34.00) on shares of Toast in a report on Monday. Robert W. Baird increased their price target on Toast from $30.00 to $38.00 and gave the company a “neutral” rating in a report on Friday, November 8th. Finally, Wells Fargo & Company boosted their price objective on Toast from $23.00 to $25.00 and gave the stock an “underweight” rating in a research note on Friday, November 8th. One investment analyst has rated the stock with a sell rating, twelve have given a hold rating and nine have assigned a buy rating to the company’s stock. According to MarketBeat, Toast currently has a consensus rating of “Hold” and a consensus target price of $34.14.

Toast Profile

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.