Charles Schwab Investment Management Inc. Acquires 113,995 Shares of Toast, Inc. (NYSE:TOST)

Charles Schwab Investment Management Inc. boosted its stake in Toast, Inc. (NYSE:TOST) by 4.3% during the 3rd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 2,783,041 shares of the company’s stock after acquiring an additional 113,995 shares during the period. Charles Schwab Investment Management Inc.’s holdings in Toast were worth $78,788,000 at the end of the most recent reporting period.

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

Toast Stock Down 0.1 %

Shares of Toast stock opened at $43.17 on Thursday. Toast, Inc. has a twelve month low of $14.00 and a twelve month high of $44.12. The company’s 50 day moving average is $32.11 and its 200 day moving average is $27.43. The company has a market cap of $20.33 billion, a price-to-earnings ratio of -330.08, a price-to-earnings-growth ratio of 54.80 and a beta of 1.74.

Analysts Set New Price Targets

TOST has been the topic of several research reports. Morgan Stanley lifted their price target on Toast from $30.00 to $33.00 and gave the company an “overweight” rating in a research report on Tuesday, October 22nd. The Goldman Sachs Group boosted their target price on shares of Toast from $29.00 to $33.00 and gave the company a “buy” rating in a report on Monday, October 14th. Compass Point assumed coverage on shares of Toast in a research note on Wednesday, November 20th. They issued a “buy” rating and a $49.00 price target for the company. Wedbush boosted their price objective on shares of Toast from $35.00 to $45.00 and gave the stock an “outperform” rating in a research note on Friday, November 8th. Finally, DA Davidson lifted their target price on shares of Toast from $35.00 to $44.00 and gave the company a “buy” rating in a report on Tuesday, November 12th. One analyst has rated the stock with a sell rating, ten have assigned a hold rating and eleven have issued a buy rating to the company. According to MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus price target of $33.86.

Insider Activity

In other Toast news, CRO Jonathan Vassil sold 1,367 shares of the company’s stock in a transaction that occurred on Monday, November 4th. The shares were sold at an average price of $31.08, for a total transaction of $42,486.36. Following the completion of the sale, the executive now directly owns 39,834 shares of the company’s stock, valued at approximately $1,238,040.72. This represents a 3.32 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director David Yuan sold 189,785 shares of the stock in a transaction that occurred 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 transaction, 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 disclosure for this sale can be found here. Insiders have sold 1,688,321 shares of company stock valued at $52,160,120 in the last ninety days. 13.32% of the stock is currently owned by company 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.