iA Global Asset Management Inc. Makes New $332,000 Investment in Toast, Inc. (NYSE:TOST)

iA Global Asset Management Inc. purchased a new position in shares of Toast, Inc. (NYSE:TOST) during the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm purchased 11,711 shares of the company’s stock, valued at approximately $332,000.

Several other institutional investors and hedge funds also recently made changes to their positions in TOST. Worldquant Millennium Advisors LLC lifted its holdings in Toast by 1,475.0% during the third quarter. Worldquant Millennium Advisors LLC now owns 850,965 shares of the company’s stock worth $24,091,000 after acquiring an additional 796,936 shares in the last quarter. Wallace Capital Management Inc. bought a new position in shares of Toast during the 3rd quarter valued at about $201,000. State Street Corp grew its position in shares of Toast by 2.5% in the 3rd quarter. State Street Corp now owns 8,325,292 shares of the company’s stock valued at $235,689,000 after purchasing an additional 206,789 shares during the period. Motley Fool Asset Management LLC increased its stake in Toast by 0.4% during the 3rd quarter. Motley Fool Asset Management LLC now owns 389,456 shares of the company’s stock worth $11,123,000 after purchasing an additional 1,630 shares in the last quarter. Finally, IHT Wealth Management LLC raised its holdings in Toast by 2.7% during the 3rd quarter. IHT Wealth Management LLC now owns 22,167 shares of the company’s stock worth $628,000 after buying an additional 583 shares during the period. Institutional investors and hedge funds own 82.91% of the company’s stock.

Insider Buying and Selling

In other Toast news, President Stephen Fredette sold 101,574 shares of the stock in a transaction on Thursday, September 12th. The stock was sold at an average price of $25.73, for a total transaction of $2,613,499.02. Following the transaction, the president now owns 2,395,685 shares in the company, valued at $61,640,975.05. This trade represents a 4.07 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CFO Elena Gomez sold 12,500 shares of the business’s stock in a transaction dated Tuesday, October 1st. The shares were sold at an average price of $28.41, for a total transaction of $355,125.00. Following the completion of the sale, the chief financial officer now directly owns 207,518 shares of the company’s stock, valued at approximately $5,895,586.38. The trade was a 5.68 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders sold 1,476,635 shares of company stock valued at $47,170,681. Company insiders own 13.32% of the company’s stock.

Wall Street Analyst Weigh In

TOST has been the subject of several research reports. Deutsche Bank Aktiengesellschaft increased their price objective on shares of Toast from $24.00 to $30.00 and gave the stock a “hold” rating in a research report on Monday, November 4th. Bank of America lifted their price target on Toast from $26.00 to $28.00 and gave the company a “neutral” rating in a research note on Tuesday, September 17th. JPMorgan Chase & Co. upped their price objective on Toast from $28.00 to $36.00 and gave the stock a “neutral” rating in a research report on Friday, November 8th. BNP Paribas lowered Toast from an “outperform” rating to a “neutral” rating and set a $37.00 target price on the stock. in a research report on Wednesday, November 20th. Finally, Royal Bank of Canada upped their price target on Toast from $27.00 to $40.00 and gave the stock a “sector perform” rating in a research report on Friday, November 8th. One research analyst has rated the stock with a sell rating, twelve have assigned a hold rating and nine have issued a buy rating to the company’s stock. According to data from MarketBeat, the stock presently has a consensus rating of “Hold” and an average target price of $34.81.

Toast Price Performance

TOST stock opened at $38.28 on Wednesday. The stock has a market cap of $18.03 billion, a price-to-earnings ratio of -294.46, a price-to-earnings-growth ratio of 23.81 and a beta of 1.92. The company has a fifty day moving average price of $34.72 and a two-hundred day moving average price of $28.41. Toast, Inc. has a one year low of $15.14 and a one year high of $44.12.

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.