Raymond James Trust N.A. Acquires 21,100 Shares of Toast, Inc. (NYSE:TOST)

Raymond James Trust N.A. increased its holdings in shares of Toast, Inc. (NYSE:TOST) by 103.4% in the third quarter, according to its most recent filing with the SEC. The fund owned 41,500 shares of the company’s stock after acquiring an additional 21,100 shares during the period. Raymond James Trust N.A.’s holdings in Toast were worth $1,175,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also recently modified their holdings of the business. West Branch Capital LLC purchased a new position in Toast during the 2nd quarter worth $26,000. LRI Investments LLC purchased a new position in Toast during the 1st quarter worth $27,000. Toth Financial Advisory Corp purchased a new position in Toast during the 3rd quarter worth $28,000. Thurston Springer Miller Herd & Titak Inc. purchased a new position in Toast during the 2nd quarter worth $33,000. Finally, 1620 Investment Advisors Inc. purchased a new position in Toast during the 2nd quarter worth $34,000. 82.91% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

Several research analysts have commented on TOST shares. Piper Sandler raised their price objective on Toast from $25.00 to $35.00 and gave the stock a “neutral” rating in a report on Monday, November 11th. Wedbush lifted their price target on Toast from $35.00 to $45.00 and gave the company an “outperform” rating in a report on Friday, November 8th. Bank of America lifted their price target 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 lifted their price target on Toast from $30.00 to $38.00 and gave the company a “neutral” rating in a report on Friday, November 8th. Finally, Royal Bank of Canada lifted their price target on Toast from $27.00 to $40.00 and gave the company a “sector perform” rating in a report on Friday, November 8th. One research analyst has rated the stock with a sell rating, ten have issued a hold rating and eleven have issued a buy rating to the company. According to data from MarketBeat.com, the stock currently has an average rating of “Hold” and an average price target of $33.86.

Toast Stock Performance

Shares of TOST opened at $42.74 on Monday. The stock has a 50-day moving average of $31.45 and a two-hundred day moving average of $27.20. Toast, Inc. has a one year low of $13.92 and a one year high of $43.29. The stock has a market cap of $20.13 billion, a P/E ratio of -328.77, a P/E/G ratio of 53.98 and a beta of 1.74.

Insiders Place Their Bets

In other news, Director Richard Kent Bennett sold 22,885 shares of the business’s stock in a transaction dated Wednesday, November 20th. The stock was sold at an average price of $41.96, for a total value of $960,254.60. Following the completion of the transaction, the director now owns 395,706 shares of the company’s stock, valued at $16,603,823.76. The trade was a 5.47 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, CEO Aman Narang sold 10,106 shares of the business’s stock in a transaction dated Wednesday, October 2nd. The shares were sold at an average price of $27.77, for a total value of $280,643.62. Following the completion of the transaction, the chief executive officer now directly owns 968,095 shares of the company’s stock, valued at approximately $26,883,998.15. This trade represents a 1.03 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders sold 1,498,536 shares of company stock valued at $43,997,467. 13.32% of the stock is owned by company insiders.

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.