MetLife Investment Management LLC Sells 549 Shares of Toast, Inc. (NYSE:TOST)

MetLife Investment Management LLC lessened its holdings in shares of Toast, Inc. (NYSE:TOST) by 1.9% in the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 27,961 shares of the company’s stock after selling 549 shares during the quarter. MetLife Investment Management LLC’s holdings in Toast were worth $792,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently modified their holdings of the business. Blueshift Asset Management LLC lifted its holdings in shares of Toast by 1.9% during the 3rd quarter. Blueshift Asset Management LLC now owns 55,754 shares of the company’s stock worth $1,578,000 after acquiring an additional 1,059 shares during the last quarter. Bridgewater Associates LP lifted its stake in Toast by 1,027.5% during the third quarter. Bridgewater Associates LP now owns 560,729 shares of the company’s stock worth $15,874,000 after purchasing an additional 510,998 shares during the last quarter. Townsquare Capital LLC boosted its holdings in shares of Toast by 13.5% in the 3rd quarter. Townsquare Capital LLC now owns 9,217 shares of the company’s stock worth $261,000 after purchasing an additional 1,095 shares in the last quarter. D.A. Davidson & CO. boosted its holdings in shares of Toast by 1.9% in the 3rd quarter. D.A. Davidson & CO. now owns 22,100 shares of the company’s stock worth $626,000 after purchasing an additional 409 shares in the last quarter. Finally, FMR LLC increased its position in shares of Toast by 50.5% during the 3rd quarter. FMR LLC now owns 24,449,743 shares of the company’s stock valued at $692,172,000 after purchasing an additional 8,205,053 shares during the last quarter. Hedge funds and other institutional investors own 82.91% of the company’s stock.

Toast Stock Up 2.1 %

NYSE:TOST opened at $38.81 on Friday. The firm’s fifty day simple moving average is $34.32 and its 200 day simple moving average is $28.22. The stock has a market cap of $18.28 billion, a P/E ratio of -298.54, a price-to-earnings-growth ratio of 48.60 and a beta of 1.93. Toast, Inc. has a twelve month low of $14.75 and a twelve month high of $44.12.

Analyst Upgrades and Downgrades

A number of research firms recently weighed in on TOST. BNP Paribas downgraded Toast from an “outperform” rating to a “neutral” rating and set a $37.00 target price for the company. in a research report on Wednesday, November 20th. Bank of America boosted their price objective on shares of Toast from $26.00 to $28.00 and gave the stock a “neutral” rating in a report on Tuesday, September 17th. The Goldman Sachs Group reaffirmed a “neutral” rating and set a $45.00 target price (up previously from $34.00) on shares of Toast in a report on Monday, December 2nd. Deutsche Bank Aktiengesellschaft boosted their price target on shares of Toast from $24.00 to $30.00 and gave the stock a “hold” rating in a research note on Monday, November 4th. Finally, Robert W. Baird raised their price objective on Toast from $30.00 to $38.00 and gave the company a “neutral” rating in a research note 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. According to data from MarketBeat.com, the company has a consensus rating of “Hold” and an average target price of $34.14.

Insider Activity

In other Toast news, General Counsel Brian R. Elworthy sold 300,000 shares of the stock in a transaction on Friday, October 18th. The stock was sold at an average price of $30.39, for a total value of $9,117,000.00. Following the completion of the transaction, the general counsel now owns 177,836 shares in the company, valued at approximately $5,404,436.04. This represents a 62.78 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, President Stephen Fredette sold 211,686 shares of the business’s stock in a transaction on Tuesday, September 10th. The shares were sold at an average price of $23.57, for a total transaction of $4,989,439.02. Following the sale, the president now owns 2,638,023 shares in the company, valued at approximately $62,178,202.11. This trade represents a 7.43 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 1,688,321 shares of company stock valued at $52,160,120. Corporate 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.