Quest Partners LLC Acquires Shares of 49,150 Toast, Inc. (NYSE:TOST)

Quest Partners LLC bought a new stake in Toast, Inc. (NYSE:TOST) in the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm bought 49,150 shares of the company’s stock, valued at approximately $1,391,000.

A number of other institutional investors have also made changes to their positions in the business. Avantax Advisory Services Inc. acquired a new position in shares of Toast during the first quarter worth approximately $355,000. Mitsubishi UFJ Trust & Banking Corp lifted its stake in shares of Toast by 3.2% during the first quarter. Mitsubishi UFJ Trust & Banking Corp now owns 176,003 shares of the company’s stock valued at $4,382,000 after acquiring an additional 5,421 shares during the period. Intech Investment Management LLC boosted its holdings in Toast by 98.8% in the first quarter. Intech Investment Management LLC now owns 21,477 shares of the company’s stock valued at $535,000 after acquiring an additional 10,672 shares during the last quarter. Covestor Ltd increased its position in Toast by 487.7% in the first quarter. Covestor Ltd now owns 3,003 shares of the company’s stock worth $75,000 after purchasing an additional 2,492 shares during the period. Finally, UniSuper Management Pty Ltd raised its holdings in Toast by 188.2% during the 1st quarter. UniSuper Management Pty Ltd now owns 4,900 shares of the company’s stock worth $122,000 after purchasing an additional 3,200 shares during the last quarter. 82.91% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

Several analysts have commented on TOST shares. Needham & Company LLC reiterated a “buy” rating and set a $30.00 target price on shares of Toast in a research report on Wednesday, August 7th. Bank of America upped their price objective on Toast from $26.00 to $28.00 and gave the company a “neutral” rating in a report on Tuesday, September 17th. Robert W. Baird raised their target price on Toast from $30.00 to $38.00 and gave the stock a “neutral” rating in a report on Friday, November 8th. Wells Fargo & Company increased their price target on shares of Toast from $23.00 to $25.00 and gave the company an “underweight” rating in a research report on Friday, November 8th. Finally, DA Davidson boosted their price objective on shares of Toast from $35.00 to $44.00 and gave the company a “buy” rating in a report on Tuesday, November 12th. One equities research analyst has rated the stock with a sell rating, nine have assigned a hold rating and eleven have assigned a buy rating to the company’s stock. According to data from MarketBeat, the stock has an average rating of “Hold” and a consensus price target of $32.75.

Toast Price Performance

Shares of TOST opened at $42.51 on Wednesday. Toast, Inc. has a one year low of $13.77 and a one year high of $42.51. The company has a market cap of $20.02 billion, a PE ratio of -326.96, a P/E/G ratio of 51.74 and a beta of 1.74. The stock has a 50-day moving average of $30.45 and a 200-day moving average of $26.83.

Insider Buying and Selling at Toast

In related news, CRO Jonathan Vassil sold 1,367 shares of the stock in a transaction 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 transaction, the executive now directly owns 39,834 shares in the company, valued at $1,238,040.72. This trade represents a 3.32 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, Director Richard Kent Bennett sold 100,000 shares of the business’s stock in a transaction on Tuesday, November 12th. The shares were sold at an average price of $36.67, for a total transaction of $3,667,000.00. Following the sale, the director now owns 418,591 shares of the company’s stock, valued at $15,349,731.97. This trade represents a 19.28 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders sold 1,475,651 shares of company stock valued at $43,037,212. Company insiders own 13.32% of the company’s stock.

About Toast

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.