Verition Fund Management LLC Decreases Position in Toast, Inc. (NYSE:TOST)

Verition Fund Management LLC decreased its stake in Toast, Inc. (NYSE:TOST) by 59.4% in the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 142,004 shares of the company’s stock after selling 207,811 shares during the period. Verition Fund Management LLC’s holdings in Toast were worth $4,020,000 as of its most recent SEC filing.

Several other institutional investors have also modified their holdings of TOST. West Branch Capital LLC acquired a new position in shares of Toast in the second quarter worth about $26,000. Toth Financial Advisory Corp acquired a new position in shares of Toast in the third quarter worth about $28,000. Thurston Springer Miller Herd & Titak Inc. acquired a new position in shares of Toast in the second quarter worth about $33,000. 1620 Investment Advisors Inc. acquired a new position in shares of Toast in the second quarter worth about $34,000. Finally, Raleigh Capital Management Inc. lifted its stake in shares of Toast by 93.4% in the third quarter. Raleigh Capital Management Inc. now owns 1,491 shares of the company’s stock worth $42,000 after acquiring an additional 720 shares in the last quarter. Institutional investors and hedge funds own 82.91% of the company’s stock.

Insider Buying and Selling

In other Toast news, Director David Yuan sold 189,785 shares of the 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 completion of the transaction, the director now directly owns 198,829 shares of the company’s stock, valued at approximately $8,551,635.29. This trade represents a 48.84 % decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, CEO Aman Narang sold 10,106 shares of the stock in a transaction on Wednesday, October 2nd. The shares were sold at an average price of $27.77, for a total value of $280,643.62. Following the transaction, the chief executive officer now directly owns 968,095 shares of the company’s stock, valued at approximately $26,883,998.15. The trade was a 1.03 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 1,688,321 shares of company stock valued at $52,160,120 in the last three months. 13.32% of the stock is currently owned by corporate insiders.

Analysts Set New Price Targets

Several research firms recently commented on TOST. Deutsche Bank Aktiengesellschaft boosted their price target on Toast from $24.00 to $30.00 and gave the stock a “hold” rating in a research note on Monday, November 4th. Piper Sandler upped their price objective on Toast from $25.00 to $35.00 and gave the company a “neutral” rating in a research note on Monday, November 11th. Robert W. Baird upped their price objective on Toast from $30.00 to $38.00 and gave the company a “neutral” rating in a research note on Friday, November 8th. Stephens upped their price objective on Toast from $28.00 to $30.00 and gave the company an “equal weight” rating in a research note on Friday, October 18th. Finally, Needham & Company LLC restated a “buy” rating and set a $30.00 price objective on shares of Toast in a research note on Wednesday, August 7th. One investment analyst has rated the stock with a sell rating, eleven have issued a hold rating and ten have issued a buy rating to the stock. According to data from MarketBeat, the stock currently has an average rating of “Hold” and an average target price of $34.43.

Toast Price Performance

Shares of TOST stock opened at $42.43 on Wednesday. Toast, Inc. has a 12-month low of $14.45 and a 12-month high of $44.12. The firm has a market capitalization of $19.98 billion, a price-to-earnings ratio of -326.38, a price-to-earnings-growth ratio of 53.99 and a beta of 1.93. The business has a 50 day simple moving average of $33.67 and a 200 day simple moving average of $27.99.

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.