Bridgewater Associates LP Has $15.87 Million Stake in Toast, Inc. (NYSE:TOST)

Bridgewater Associates LP increased its position in shares of Toast, Inc. (NYSE:TOST) by 1,027.5% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 560,729 shares of the company’s stock after purchasing an additional 510,998 shares during the period. Bridgewater Associates LP’s holdings in Toast were worth $15,874,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors have also added to or reduced their stakes in the company. Townsquare Capital LLC grew its position in shares of Toast by 13.5% during the 3rd quarter. Townsquare Capital LLC now owns 9,217 shares of the company’s stock worth $261,000 after purchasing an additional 1,095 shares in the last quarter. D.A. Davidson & CO. grew its position in Toast by 1.9% during the third quarter. D.A. Davidson & CO. now owns 22,100 shares of the company’s stock worth $626,000 after buying an additional 409 shares in the last quarter. FMR LLC raised its holdings in Toast by 50.5% in the 3rd quarter. FMR LLC now owns 24,449,743 shares of the company’s stock valued at $692,172,000 after acquiring an additional 8,205,053 shares in the last quarter. West Tower Group LLC bought a new stake in shares of Toast during the 3rd quarter valued at $198,000. Finally, Qsemble Capital Management LP grew its holdings in shares of Toast by 52.1% during the 3rd quarter. Qsemble Capital Management LP now owns 67,796 shares of the company’s stock worth $1,919,000 after purchasing an additional 23,231 shares in the last quarter. 82.91% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

Several brokerages have recently issued reports on TOST. Royal Bank of Canada lifted their price target on Toast from $27.00 to $40.00 and gave the company a “sector perform” rating in a research note on Friday, November 8th. The Goldman Sachs Group upped their price target on shares of Toast from $29.00 to $33.00 and gave the company a “buy” rating in a research report on Monday, October 14th. JPMorgan Chase & Co. lifted their price target on shares of Toast from $28.00 to $36.00 and gave the stock a “neutral” rating in a report on Friday, November 8th. DA Davidson boosted their price objective on shares of Toast from $35.00 to $44.00 and gave the stock a “buy” rating in a research note on Tuesday, November 12th. Finally, Compass Point initiated coverage on Toast in a research report on Wednesday, November 20th. They set a “buy” rating and a $49.00 target price for the company. One investment analyst has rated the stock with a sell rating, ten have assigned a hold rating and eleven have issued a buy rating to the company. According to MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus target price of $33.86.

Toast Stock Performance

TOST stock opened at $43.17 on Thursday. The business has a 50-day simple moving average of $32.11 and a two-hundred day simple moving average of $27.43. The company has a market capitalization of $20.33 billion, a P/E ratio of -332.08, a price-to-earnings-growth ratio of 54.80 and a beta of 1.74. Toast, Inc. has a 52-week low of $14.00 and a 52-week high of $44.12.

Insider Activity

In other Toast news, Director David Yuan sold 189,785 shares of the company’s stock in a transaction dated Monday, November 25th. The shares were sold at an average price of $43.01, for a total value of $8,162,652.85. Following the completion of the sale, the director now directly owns 198,829 shares of the company’s stock, valued at approximately $8,551,635.29. This represents a 48.84 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, General Counsel Brian R. Elworthy sold 300,000 shares of the business’s stock in a transaction that occurred on Friday, October 18th. The stock was sold at an average price of $30.39, for a total value of $9,117,000.00. Following the completion of the transaction, the general counsel now owns 177,836 shares in the company, valued at $5,404,436.04. The trade was a 62.78 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 1,688,321 shares of company stock worth $52,160,120 over the last 90 days. 13.32% of the stock is currently owned by corporate insiders.

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.