CIBC Asset Management Inc Has $357,000 Stock Position in Toast, Inc. (NYSE:TOST)

CIBC Asset Management Inc increased its stake in Toast, Inc. (NYSE:TOST) by 3.7% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 12,614 shares of the company’s stock after buying an additional 448 shares during the quarter. CIBC Asset Management Inc’s holdings in Toast were worth $357,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also made changes to their positions in the company. Whale Rock Capital Management LLC acquired a new stake in Toast in the first quarter valued at $179,111,000. Assenagon Asset Management S.A. raised its holdings in shares of Toast by 2,889.8% in the 3rd quarter. Assenagon Asset Management S.A. now owns 3,829,995 shares of the company’s stock valued at $108,427,000 after purchasing an additional 3,701,893 shares during the period. Price T Rowe Associates Inc. MD grew its holdings in Toast by 21.4% during the first quarter. Price T Rowe Associates Inc. MD now owns 19,524,700 shares of the company’s stock worth $486,557,000 after purchasing an additional 3,445,788 shares during the period. Marshall Wace LLP increased its position in Toast by 175.8% during the second quarter. Marshall Wace LLP now owns 2,517,288 shares of the company’s stock worth $64,871,000 after buying an additional 1,604,716 shares during the last quarter. Finally, XN LP increased its position in Toast by 40.9% during the first quarter. XN LP now owns 5,055,225 shares of the company’s stock worth $125,976,000 after buying an additional 1,467,339 shares during the last quarter. 82.91% of the stock is owned by institutional investors.

Insider Buying and Selling at Toast

In other Toast news, President Stephen Fredette sold 211,686 shares of the business’s stock in a transaction dated Tuesday, September 10th. The stock was sold at an average price of $23.57, for a total transaction of $4,989,439.02. Following the completion of the transaction, the president now owns 2,638,023 shares of the company’s stock, valued at approximately $62,178,202.11. The trade was a 7.43 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Richard Kent Bennett sold 100,000 shares of the firm’s stock in a transaction that occurred 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 completion of the sale, the director now owns 418,591 shares in the company, valued at approximately $15,349,731.97. The trade was a 19.28 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 1,475,651 shares of company stock valued at $43,037,212 in the last ninety days. 13.32% of the stock is currently owned by company insiders.

Toast Stock Down 0.3 %

TOST stock opened at $42.36 on Friday. Toast, Inc. has a 52 week low of $13.77 and a 52 week high of $43.29. The business has a 50-day simple moving average of $30.80 and a 200 day simple moving average of $26.94. The company has a market cap of $19.95 billion, a PE ratio of -325.85, a price-to-earnings-growth ratio of 54.16 and a beta of 1.74.

Wall Street Analysts Forecast Growth

Several research analysts have recently commented on TOST shares. JPMorgan Chase & Co. lifted their target price on Toast from $28.00 to $36.00 and gave the stock a “neutral” rating in a research note on Friday, November 8th. Piper Sandler lifted their price objective on shares of Toast from $25.00 to $35.00 and gave the stock a “neutral” rating in a research report on Monday, November 11th. Wedbush increased their price objective on shares of Toast from $35.00 to $45.00 and gave the company an “outperform” rating in a research report on Friday, November 8th. Robert W. Baird raised their target price on shares of Toast from $30.00 to $38.00 and gave the stock a “neutral” rating in a research note on Friday, November 8th. Finally, Needham & Company LLC reiterated a “buy” rating and issued a $30.00 price target on shares of Toast in a research note on Wednesday, August 7th. One equities research analyst has rated the stock with a sell rating, ten have given a hold rating and eleven have given a buy rating to the stock. Based on data from MarketBeat.com, Toast currently has an average rating of “Hold” and a consensus target price of $33.86.

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.