Eventide Asset Management LLC Has $70.70 Million Stake in Toast, Inc. (NYSE:TOST)

Eventide Asset Management LLC lowered its holdings in Toast, Inc. (NYSE:TOST) by 22.8% during the third quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 2,497,164 shares of the company’s stock after selling 738,315 shares during the quarter. Toast accounts for about 1.2% of Eventide Asset Management LLC’s investment portfolio, making the stock its 24th largest position. Eventide Asset Management LLC owned about 0.53% of Toast worth $70,695,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in TOST. West Branch Capital LLC acquired a new stake in Toast in the 2nd quarter valued at approximately $26,000. LRI Investments LLC acquired a new stake in Toast in the 1st quarter valued at approximately $27,000. Toth Financial Advisory Corp bought a new stake in shares of Toast in the 3rd quarter worth approximately $28,000. Thurston Springer Miller Herd & Titak Inc. bought a new stake in shares of Toast in the 2nd quarter worth approximately $33,000. Finally, 1620 Investment Advisors Inc. bought a new stake in shares of Toast in the 2nd quarter worth approximately $34,000. Institutional investors and hedge funds own 82.91% of the company’s stock.

Analyst Ratings Changes

A number of analysts have commented on the company. DA Davidson raised their price objective on Toast from $35.00 to $44.00 and gave the stock a “buy” rating in a research report on Tuesday, November 12th. Bank of America raised their price objective on Toast from $26.00 to $28.00 and gave the stock a “neutral” rating in a research report on Tuesday, September 17th. Morgan Stanley raised their price objective on Toast from $30.00 to $33.00 and gave the stock an “overweight” rating in a research report on Tuesday, October 22nd. Robert W. Baird raised their price objective on Toast from $30.00 to $38.00 and gave the stock a “neutral” rating in a research report on Friday, November 8th. Finally, Deutsche Bank Aktiengesellschaft raised their price objective on Toast from $24.00 to $30.00 and gave the stock a “hold” rating in a research report on Monday, November 4th. One research analyst has rated the stock with a sell rating, ten have assigned a hold rating and eleven have assigned a buy rating to the company. According to data from MarketBeat.com, Toast has a consensus rating of “Hold” and a consensus target price of $33.86.

Toast Stock Performance

Toast stock opened at $43.18 on Friday. The firm has a market cap of $20.34 billion, a P/E ratio of -332.15, a P/E/G ratio of 55.03 and a beta of 1.74. The business’s fifty day moving average is $32.77 and its two-hundred day moving average is $27.65. Toast, Inc. has a 52 week low of $14.00 and a 52 week high of $44.12.

Insiders Place Their Bets

In other news, Director David Yuan sold 189,785 shares of the business’s 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 sale, the director now owns 198,829 shares in the company, valued at $8,551,635.29. The trade was a 48.84 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, President Stephen Fredette sold 101,574 shares of the business’s stock in a transaction on Thursday, September 12th. The stock was sold at an average price of $25.73, for a total value of $2,613,499.02. Following the sale, the president now owns 2,395,685 shares of the company’s stock, valued at approximately $61,640,975.05. The trade was a 4.07 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 1,688,321 shares of company stock valued at $52,160,120. 13.32% of the stock is currently owned by corporate insiders.

Toast 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.