Sunday, June 26, 2022

Selling Buzz: Toast Inc. [TOST] 10% Owner Technology Investment Dining G sells 3,600,000 shares of the company

Investors can expect a company’s stock to rise or fall based on the buying and selling of stock by its insiders. Toast Inc. shares valued at $51,228,000 were sold by Technology Investment Dining G on May 26. At $14.23 per share, Technology Investment Dining G sold 3,600,000 shares. The insider’s holdings dropped to 11,007,825 shares worth approximately $153.34 million following the completion of this transaction.

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Also, Technology Investment Dining G sold 3,600,000 shares, netting a total of over 50,400,000 in proceeds. Following the sale of shares at $14.00 each, the insider now holds 14,607,825 shares.

Before that, Technology Investment Dining G had sold 945,536 shares from its account. In a trade valued at $13,507,727, the 10% Owner traded Toast Inc. shares for $14.29 each. Upon closing the transaction, the insider’s holdings decreased to 945,536 shares, worth approximately $253.64 million.

As published in their initiating research note from Wells Fargo on April 05, 2022, Toast Inc. [TOST] has been an Overweight and the price target has been revised to $29. This represents a 51.97% premium over Wednesday’s closing price. Analysts at MoffettNathanson started covering the stock with ‘”a Sell”‘ outlook in a report released in early April. As of March 28, 2022, Credit Suisse has initiated its “Neutral” rating for TOST. Earlier on March 22, 2022, Bernstein initiated its rating. Their recommendation was “a Mkt perform” for TOST stock.

Analyzing TOST’s Price Performance

On Wednesday, Toast Inc. [NYSE: TOST] rose 0.36% to $13.93. The stock’s lowest price that day was $13.56, but it reached a high of $14.36 in the same session. During the last five days, there has been a surge of approximately 0.58%. Over the course of the year, Toast Inc. shares have dropped approximately -59.87%. Nevertheless, trading volume fell to 7.14 million shares from 8.43 million shares the previous day.

Support And Resistance Levels for Toast Inc. (TOST)

According to the 24-hour chart, there is a support level at 13.54, which, if violated, would cause prices to drop to 13.15. In the upper region, resistance lies at 14.34. The next price resistance is at 14.75. RSI (Relative Strength Index) is 41.59 on the 14-day chart, showing neutral technical sentiment. Moving Average Convergence Divergence (MACD) is at -1.27, which suggests the price will decrease in the coming days. Percent R is at 78.00%, indicating bearish price movement. Stochastics %K at buying indicates that the stock is to be held.

Which companies own the most shares of Toast Inc. (TOST)?

According to T. Rowe Price Associates, Inc. filings, the company currently owns 40,644,272 shares, which is about 14.35% of the total TOST shares outstanding. The investor’s shares have appreciated by 13,110,549 from its previous 13-F filing of 27533723.0 shares. With the completion of the buy, HMI Capital Management LP’s stake is now worth $215,563,849. Tiger Global Management LLC acquire a 181.61% interest valued at $205.8 million while Capital Research & Management Co purchased a 1,081,510 stake. A total of 3,047,848 shares of Toast Inc. were bought by Generation Investment Management during the quarter, and 3,047,819 were bought by Contour Asset Management LLC. In its current portfolio, Gilder, Gagnon, Howe & Co. LLC holds 3,938,715 shares valued at $63.96 million.

In terms of Toast Inc. share price expectations, FactSet research, analysts set an average price target of $22.43 in the next 12 months, up nearly 58.5% from the previous closing price of $13.88. Analysts anticipate Toast Inc. stock to reach $33.00 by 2022, with the lowest price target being $15.00. In spite of this, 17 analysts ranked Toast Inc. stock as an Overweight at the end of 2022. On March 15, 2022, Robert W. Baird assigned a price target of “an Outperform” to the stock and initiated coverage with a $25.

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