Toast, Inc. (NYSE:TOST) Stake Raised by Makena Capital Management LLC

Makena Capital Management LLC increased its holdings in Toast, Inc. (NYSE:TOST) by 7.6% in the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 274,392 shares of the company’s stock after buying an additional 19,371 shares during the quarter. Makena Capital Management LLC’s holdings in Toast were worth $7,768,000 at the end of the most recent reporting period.

A number of other institutional investors also recently added to or reduced their stakes in TOST. KBC Group NV increased its holdings in shares of Toast by 66.5% during the third quarter. KBC Group NV now owns 42,838 shares of the company’s stock valued at $1,213,000 after purchasing an additional 17,106 shares during the period. Stephens Investment Management Group LLC increased its stake in shares of Toast by 13.1% during the third quarter. Stephens Investment Management Group LLC now owns 1,884,771 shares of the company’s stock valued at $53,358,000 after acquiring an additional 218,959 shares during the period. Entropy Technologies LP bought a new stake in Toast during the third quarter worth approximately $894,000. QRG Capital Management Inc. lifted its position in Toast by 39.7% in the second quarter. QRG Capital Management Inc. now owns 84,967 shares of the company’s stock worth $2,190,000 after purchasing an additional 24,164 shares during the period. Finally, Epoch Investment Partners Inc. bought a new position in Toast during the 1st quarter valued at $633,000. Institutional investors and hedge funds own 82.91% of the company’s stock.

Toast Trading Down 0.0 %

Shares of Toast stock opened at $42.49 on Thursday. The stock has a 50-day simple moving average of $30.45 and a 200-day simple moving average of $26.83. Toast, Inc. has a 52-week low of $13.77 and a 52-week high of $42.85.

Insider Buying and Selling at Toast

In other news, Director Richard Kent Bennett sold 100,000 shares of the stock in a transaction dated Tuesday, November 12th. The stock was sold at an average price of $36.67, for a total transaction of $3,667,000.00. Following the transaction, the director now owns 418,591 shares of the company’s stock, valued at approximately $15,349,731.97. This represents a 19.28 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, CRO Jonathan Vassil sold 1,367 shares of the company’s stock in a transaction that occurred on Monday, November 4th. The stock was sold at an average price of $31.08, for a total value of $42,486.36. Following the sale, the executive now directly owns 39,834 shares of the company’s stock, valued at $1,238,040.72. The trade was a 3.32 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 1,475,651 shares of company stock worth $43,037,212 over the last ninety days. 13.32% of the stock is currently owned by insiders.

Wall Street Analysts Forecast Growth

A number of analysts have recently commented on the company. JPMorgan Chase & Co. boosted their price objective on Toast from $28.00 to $36.00 and gave the stock a “neutral” rating in a research note on Friday, November 8th. Compass Point began coverage on shares of Toast in a research report on Wednesday. They issued a “buy” rating and a $49.00 price target on the stock. DA Davidson raised their price objective on shares of Toast from $35.00 to $44.00 and gave the company a “buy” rating in a research report on Tuesday, November 12th. Wedbush boosted their target price on shares of Toast from $35.00 to $45.00 and gave the stock an “outperform” rating in a report on Friday, November 8th. Finally, Needham & Company LLC reissued a “buy” rating and set a $30.00 price objective on shares of Toast in a research note on Wednesday, August 7th. One research analyst has rated the stock with a sell rating, ten have given a hold rating and eleven have given a buy rating to the stock. According to data from MarketBeat.com, the stock has a consensus rating of “Hold” and an average price target of $33.86.

Toast Company 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.