Assenagon Asset Management S.A. Has $5.82 Million Stake in Toast, Inc. (NYSE:TOST)

Assenagon Asset Management S.A. decreased its stake in Toast, Inc. (NYSE:TOST) by 27.2% during the 1st quarter, Holdings Channel.com reports. The institutional investor owned 175,571 shares of the company’s stock after selling 65,456 shares during the period. Assenagon Asset Management S.A.’s holdings in Toast were worth $5,824,000 at the end of the most recent reporting period.

Several other institutional investors have also recently bought and sold shares of the business. Handelsbanken Fonder AB raised its position in Toast by 13.5% in the 1st quarter. Handelsbanken Fonder AB now owns 113,400 shares of the company’s stock valued at $3,761,000 after purchasing an additional 13,500 shares during the last quarter. SG Americas Securities LLC bought a new position in Toast in the 1st quarter valued at $877,000. GAMMA Investing LLC raised its position in Toast by 38.7% in the 1st quarter. GAMMA Investing LLC now owns 3,861 shares of the company’s stock valued at $128,000 after purchasing an additional 1,077 shares during the last quarter. Regatta Capital Group LLC raised its position in Toast by 9.7% in the 1st quarter. Regatta Capital Group LLC now owns 12,392 shares of the company’s stock valued at $411,000 after purchasing an additional 1,094 shares during the last quarter. Finally, Pallas Capital Advisors LLC bought a new position in Toast in the 1st quarter valued at $816,000. Institutional investors own 82.91% of the company’s stock.

Toast Trading Down 2.4%

NYSE TOST opened at $41.50 on Friday. The stock has a 50-day simple moving average of $39.06 and a 200 day simple moving average of $38.01. The company has a market capitalization of $20.67 billion, a PE ratio of -4,145.85, a P/E/G ratio of 2.16 and a beta of 2.02. Toast, Inc. has a 12 month low of $22.10 and a 12 month high of $45.56.

Analyst Ratings Changes

Several brokerages have issued reports on TOST. Wall Street Zen downgraded Toast from a “strong-buy” rating to a “buy” rating in a research report on Sunday, June 1st. The Goldman Sachs Group cut their price objective on Toast from $43.00 to $38.00 and set a “neutral” rating for the company in a research report on Wednesday, April 2nd. Piper Sandler boosted their target price on Toast from $35.00 to $37.00 and gave the stock a “neutral” rating in a research report on Friday, May 9th. Keefe, Bruyette & Woods boosted their target price on Toast from $40.00 to $42.00 and gave the stock a “market perform” rating in a research report on Thursday, February 20th. Finally, Morgan Stanley boosted their target price on Toast from $46.00 to $50.00 and gave the stock an “overweight” rating in a research report on Friday, May 9th. Twelve analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the company. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus target price of $41.21.

Insider Buying and Selling at Toast

In other Toast news, Director Paul D. Bell sold 11,000 shares of the business’s stock in a transaction dated Thursday, May 15th. The stock was sold at an average price of $45.13, for a total value of $496,430.00. Following the completion of the transaction, the director now directly owns 229,680 shares of the company’s stock, valued at approximately $10,365,458.40. The trade was a 4.57% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Richard Kent Bennett sold 9,712 shares of the business’s stock in a transaction dated Tuesday, June 10th. The shares were sold at an average price of $43.14, for a total value of $418,975.68. Following the completion of the transaction, the director now directly owns 534,167 shares of the company’s stock, valued at approximately $23,043,964.38. The trade was a 1.79% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 629,341 shares of company stock valued at $25,249,141. Company insiders own 13.32% of the company’s stock.

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.