Candriam S.C.A. Has $1.24 Million Stock Position in Toast, Inc. $TOST

Candriam S.C.A. reduced its position in Toast, Inc. (NYSE:TOST) by 84.2% in the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 46,888 shares of the company’s stock after selling 250,087 shares during the quarter. Candriam S.C.A.’s holdings in Toast were worth $1,243,000 at the end of the most recent quarter.

Other large investors also recently modified their holdings of the company. NewEdge Advisors LLC increased its holdings in shares of Toast by 1,555.5% during the first quarter. NewEdge Advisors LLC now owns 17,432 shares of the company’s stock worth $578,000 after buying an additional 16,379 shares in the last quarter. Cerity Partners LLC lifted its stake in shares of Toast by 24.0% in the 2nd quarter. Cerity Partners LLC now owns 81,574 shares of the company’s stock valued at $3,613,000 after purchasing an additional 15,774 shares during the period. State Street Corp boosted its holdings in Toast by 2.7% during the second quarter. State Street Corp now owns 9,212,889 shares of the company’s stock worth $408,039,000 after buying an additional 245,276 shares during the last quarter. Frontier Capital Management Co. LLC bought a new position in Toast during the 2nd quarter worth approximately $4,479,000. Finally, Sei Investments Co. increased its position in shares of Toast by 24.6% in the 2nd quarter. Sei Investments Co. now owns 1,030,007 shares of the company’s stock valued at $45,619,000 after buying an additional 203,404 shares in the last quarter. 82.91% of the stock is currently owned by institutional investors.

Toast Stock Up 0.3%

NYSE:TOST opened at $30.04 on Wednesday. The stock’s 50-day simple moving average is $25.75 and its 200 day simple moving average is $28.33. The firm has a market capitalization of $15.50 billion, a PE ratio of 46.21 and a beta of 1.74. Toast, Inc. has a twelve month low of $22.26 and a twelve month high of $49.66.

Insider Activity at Toast

In other news, CRO Jonathan Vassil sold 6,647 shares of the stock in a transaction on Thursday, July 2nd. The stock was sold at an average price of $28.85, for a total value of $191,765.95. Following the completion of the transaction, the executive directly owned 69,966 shares in the company, valued at approximately $2,018,519.10. This represents a 8.68% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, President Stephen Fredette sold 9,146 shares of the stock in a transaction dated Thursday, July 2nd. The shares were sold at an average price of $28.85, for a total value of $263,862.10. Following the completion of the transaction, the president owned 931,449 shares of the company’s stock, valued at $26,872,303.65. This represents a 0.97% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. The sale was made to cover tax withholding obligations related to the vesting of equity awards. In the last ninety days, insiders sold 159,265 shares of company stock valued at $4,278,832. 10.03% of the stock is owned by company insiders.

Analysts Set New Price Targets

A number of research analysts have weighed in on TOST shares. Morgan Stanley set a $45.00 price target on shares of Toast in a research note on Friday, May 8th. Truist Financial lowered their price target on Toast from $36.00 to $30.00 and set a “buy” rating on the stock in a research report on Tuesday, May 12th. Loop Capital began coverage on shares of Toast in a research note on Tuesday, March 31st. They issued a “hold” rating and a $26.00 target price for the company. Mizuho reduced their price objective on shares of Toast from $45.00 to $38.00 and set an “outperform” rating for the company in a research report on Tuesday, May 12th. Finally, Zacks Research cut Toast from a “strong-buy” rating to a “hold” rating in a report on Tuesday, July 7th. Two analysts have rated the stock with a Strong Buy rating, seventeen have issued a Buy rating and eight have given a Hold rating to the stock. Based on data from MarketBeat, Toast has an average rating of “Moderate Buy” and a consensus price target of $37.59.

About Toast

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.