TOAST INC TOST
CL A · Common Stock · CUSIP 888787108 · ISIN US8887871080
Cloud-based restaurant software company
- SectorTechnology
- IndustryServices-Computer Processing & Data Preparation
- HeadquartersBoston, MA
- Founded2012
- Websitepos.toasttab.com
- FilingsSEC EDGAR
* Summed across managers. Shares that two managers' reports both contain – a subsidiary's holdings that its parent's report includes too, or a sub-adviser's in its client's – are counted once ($295.5m this quarter). Holder counts are more reliable. Implied quarter-end price ≈ $44.26. Options: 41 managers hold calls ($691.9m notional), 30 hold puts ($560.2m).
Trends to Q2 2025
Institutional holders
Managers reporting a position, each quarter
Numbers
| Quarter | Holders |
|---|---|
| Q3 2022 | 285 |
| Q4 2022 | 345 |
| Q1 2023 | 366 |
| Q2 2023 | 396 |
| Q3 2023 | 417 |
| Q4 2023 | 442 |
| Q1 2024 | 473 |
| Q2 2024 | 506 |
| Q3 2024 | 519 |
| Q4 2024 | 632 |
| Q1 2025 | 661 |
| Q2 2025 | 751 |
Buyers vs sellers
Managers adding to or starting a position, vs cutting or selling out
Numbers
| Quarter | Bought or added | Cut or sold out |
|---|---|---|
| Q3 2023 | 259 | 166 |
| Q4 2023 | 237 | 197 |
| Q1 2024 | 269 | 208 |
| Q2 2024 | 285 | 212 |
| Q3 2024 | 255 | 226 |
| Q4 2024 | 345 | 225 |
| Q1 2025 | 385 | 250 |
| Q2 2025 | 469 | 234 |
Calls vs puts
Options held, notional value, last 4 quarters. P/C = puts ÷ calls
Numbers
| Quarter | Calls | Puts | P/C |
|---|---|---|---|
| Q3 2024 | $296.1m | $183.5m | 0.62 |
| Q4 2024 | $474.7m | $384.3m | 0.81 |
| Q1 2025 | $440.2m | $338.1m | 0.77 |
| Q2 2025 | $691.9m | $560.2m | 0.81 |
Biggest buyers
| JENNISON ASSOCIATES LLC | Added | +6.6m |
| MORGAN STANLEY | Added | +4.8m |
| MARSHALL WACE, LLP | Added | +4.1m |
| Qube Research & Technologies Ltd | Added | +3.7m |
| D. E. Shaw & Co., Inc. | Added | +1.8m |
| 1832 Asset Management L.P. | Added | +1.7m |
| MACQUARIE GROUP LTD | Added | +1.7m |
| FEDERATED HERMES, INC. | Added | +1.5m |
| GOLDMAN SACHS GROUP INC | Added | +1.5m |
| NEUBERGER BERMAN GROUP LLC | Added | +1.4m |
Biggest sellers
| PRICE T ROWE ASSOCIATES INC /MD/ | Reduced | -11.4m |
| CITADEL ADVISORS LLC | Reduced | -3.0m |
| ValueAct Holdings, L.P. | Sold out | -2.6m |
| HMI Capital Management, L.P. | Reduced | -2.4m |
| BANK OF AMERICA CORP /DE/ | Reduced | -1.7m |
| Whale Rock Capital Management LLC | Sold out | -1.4m |
| T. Rowe Price Investment Management, Inc. | Reduced | -1.3m |
| Balyasny Asset Management L.P. | Reduced | -1.2m |
| UBS Group AG | Reduced | -1.2m |
| Lead Edge Capital Management, LLC | Sold out | -1.0m |
Biggest calls
| JANE STREET GROUP, LLC | Added | $175.7m4.0m shares |
| SUSQUEHANNA INTERNATIONAL GROUP, LLP | Reduced | $119.7m2.7m shares |
| PEAK6 LLC | Added | $101.5m2.3m shares |
| Walleye Trading LLC | Added | $78.0m1.8m shares |
| CITADEL ADVISORS LLC | Added | $48.0m1.1m shares |
| SIMPLEX TRADING, LLC | Reduced | $21.9m495.5k shares |
| IMC-Chicago, LLC | Added | $21.8m491.8k shares |
| Twin Tree Management, LP | Reduced | $17.3m390.3k shares |
| BNP PARIBAS FINANCIAL MARKETS | Unchanged | $15.5m3.5k shares |
| WOLVERINE TRADING, LLC | Reduced | $14.2m324.4k shares |
Biggest puts
| GOLDMAN SACHS GROUP INC | Reduced | $132.9m3.0m shares |
| SUSQUEHANNA INTERNATIONAL GROUP, LLP | Added | $78.8m1.8m shares |
| CITADEL ADVISORS LLC | Added | $72.0m1.6m shares |
| UBS Group AG | Reduced | $42.7m963.6k shares |
| Twin Tree Management, LP | Reduced | $27.5m621.1k shares |
| Balyasny Asset Management L.P. | New | $25.2m568.5k shares |
| Squarepoint Ops LLC | Added | $23.1m521.8k shares |
| IMC-Chicago, LLC | Added | $20.0m452.3k shares |
| JANE STREET GROUP, LLC | Reduced | $18.7m423.2k shares |
| Philadelphia Financial Management of San Francisco, LLC | New | $18.6m420.0k shares |
Options at notional value: the value of the shares the contracts control, as filers report them, not what the options cost. Not included in the holders, shares or buying above.
Major shareholders (over 5%)
Anyone who owns more than 5% of a class of the company's shares has to say so: on Schedule 13D if they may try to influence or control the company, on 13G if they're a passive investor, and update it as the stake changes. Each holder's latest filing, from 19 Dec 2024 on; percentages are of the share class, as the holder worked them out.
| Holder | Stake |
|---|---|
| BlackRock, Inc. 13G · institution +0.7 pts · filed 2026-10-05 | 10.0% |
| FMR LLC 13G · institution filed 2025-02-12 | 6.5% |
| Capital International Investors 13G · institution filed 2026-05-14 | 5.9% |
| Fredette Stephen 13G · exempt (held before listing) filed 2025-02-13 | 5.9% |
Fell to 5% or below in the last year: Technology Investment Dining Group, LLC (4.3%, 2026-05-15), VANGUARD GROUP INC (0.0%, 2026-03-27)
Insider purchases and sales in Q2 2025
Shares bought or sold by the company's own officers, directors and 10% owners, in the open market or privately, as they reported to the SEC on Form 4 (due within two business days of the trade). Grants, option exercises, shares withheld for tax and gifts aren't included.
Officers and directors buying vs selling
Number of people, by quarter (10% owners not included)
Numbers
| Quarter | Buying | Bought | Selling | Sold | Sold under a plan |
|---|---|---|---|---|---|
| Q3 2023 | 0 | — | 6 | $19.7m | — |
| Q4 2023 | 0 | — | 6 | $3.8m | — |
| Q1 2024 | 0 | — | 6 | $9.6m | $8.9m |
| Q2 2024 | 0 | — | 7 | $5.7m | $4.7m |
| Q3 2024 | 0 | — | 7 | $33.2m | $29.9m |
| Q4 2024 | 0 | — | 9 | $96.3m | $62.6m |
| Q1 2025 | 0 | — | 7 | $19.8m | $17.3m |
| Q2 2025 | 0 | — | 9 | $69.4m | $67.2m |
| Date | Insider | Trade | Value |
|---|---|---|---|
| 2025-06-10 | Bennett Richard Kent Director | Sold | $419.0k9.7k shares |
| 2025-06-06 | Chapman-Hughes Susan Director | Sold | $330.0k7.5k shares |
| 2025-06-02 | Elworthy Brian R General Counsel | Sold plan | $12.8m300.0k shares |
| 2025-06-02 | Vassil Jonathan Chief Revenue Officer | Sold plan | $4.3m100.0k shares |
| 2025-06-02 | Elworthy Brian R General Counsel | Sold plan | $1.7m39.4k shares |
| 2025-05-15 | BELL PAUL D Director | Sold | $496.4k11.0k shares |
| 2025-05-14 | Comparato Christopher P Director | Sold plan | $3.1m70.0k shares |
| 2025-05-12 | Fredette Stephen President, director | Sold plan | $6.4m151.1k shares |
| 2025-05-12 | Fredette Stephen President, director | Sold plan | $4.4m104.1k shares |
| 2025-05-09 | Fredette Stephen President, director · By the SHFA Family Trust | Sold plan | $13.1m318.6k shares |
| 2025-05-09 | Fredette Stephen President, director | Sold plan | $10.5m254.5k shares |
| 2025-05-09 | Vassil Jonathan Chief Revenue Officer | Sold plan | $4.1m100.0k shares |
| 2025-05-09 | Fredette Stephen President, director · By the SHFA 2021 Nominee Trust | Sold plan | $1.4m35.3k shares |
| 2025-05-09 | Fredette Stephen President, director | Sold plan | $1.4m32.9k shares |
| 2025-05-02 | Gomez Elena President, CFO | Sold | $70.7k2.0k shares |
| 2025-05-02 | Narang Aman CEO, director | Sold | $60.6k1.7k shares |
| 2025-05-02 | Fredette Stephen President, director | Sold | $60.1k1.7k shares |
| 2025-05-02 | Vassil Jonathan Chief Revenue Officer | Sold | $50.3k1.4k shares |
| 2025-05-02 | Elworthy Brian R General Counsel | Sold | $37.1k1.0k shares |
| 2025-04-17 | Comparato Christopher P Director | Sold plan | $2.4m70.0k shares |
| 2025-04-02 | Gomez Elena President, CFO | Sold plan | $1.5m42.4k shares |
| 2025-04-02 | Narang Aman CEO, director | Sold | $328.8k9.4k shares |
| 2025-04-02 | Vassil Jonathan Chief Revenue Officer | Sold | $155.5k4.4k shares |
| 2025-04-02 | Fredette Stephen President, director | Sold | $132.8k3.8k shares |
| 2025-04-02 | Elworthy Brian R General Counsel | Sold | $101.3k2.9k shares |
Their holding: how much the trade added to or took from the insider's holding (direct, or the trust or fund named). The same trade is sometimes reported by more than one insider, such as a fund and the director who represents it; totals count it once. A value is left blank where the reported price is far from the market price (usually a typo).
Holders, Q2 2025
| Manager | Shares | Change |
|---|---|---|
| Capital International Investors 0.34% of their portfolio | 45.1m $2.0bn | Added +488.5k |
| VANGUARD GROUP INC 0.03% of their portfolio | 44.4m $2.0bn | Added +466.1k |
| FMR LLC 0.07% of their portfolio | 26.7m $1.2bn | Reduced -247.9k |
| BlackRock, Inc. 0.02% of their portfolio | 25.7m $1.1bn | Added +138.6k |
| T. Rowe Price Investment Management, Inc. 0.40% of their portfolio | 14.2m $630.3m | Reduced -1.3m |
| PRICE T ROWE ASSOCIATES INC /MD/ 0.06% of their portfolio | 12.1m $534.6m | Reduced -11.4m |
| JPMORGAN CHASE & CO 0.03% of their portfolio | 10.4m $460.9m | Added +976.9k |
| Durable Capital Partners LP 3.44% of their portfolio | 10.2m $453.8m | Reduced -591.0k |
| MORGAN STANLEY 0.03% of their portfolio | 9.7m $427.8m | Added +4.8m |
| STATE STREET CORP 0.02% of their portfolio | 9.2m $408.0m | Added +245.3k |
| JENNISON ASSOCIATES LLC 0.23% of their portfolio | 8.6m $381.0m | Added +6.6m |
| GEODE CAPITAL MANAGEMENT, LLC 0.02% of their portfolio | 7.9m $348.9m | Added +218.5k |
| MARSHALL WACE, LLP 0.42% of their portfolio | 7.9m $349.3m | Added +4.1m |
| Qube Research & Technologies Ltd 0.41% of their portfolio | 6.7m $298.1m | Added +3.7m |
| BANK OF AMERICA CORP /DE/ 0.02% of their portfolio | 6.3m $280.2m | Reduced -1.7m |
| UBS Group AG 0.06% of their portfolio | 6.1m $269.8m | Reduced -1.2m |
| PRINCIPAL FINANCIAL GROUP INC 0.13% of their portfolio | 5.8m $255.0m | Added +282.5k |
| Sumitomo Mitsui Trust Group, Inc. 0.15% of their portfolio | 5.5m $245.1m | Reduced -221.2k |
| XN LP 8.06% of their portfolio | 5.2m $230.8m | Added +424.1k |
| NORGES BANK 0.03% of their portfolio | 5.0m $219.3m | Reduced -274.2k |
| Amova Asset Management Americas, Inc. 2.06% of their portfolio | 4.7m $206.3m | Reduced -340.9k |
| GILDER GAGNON HOWE & CO LLC 2.06% of their portfolio | 4.4m $193.8m | Reduced -168.8k |
| 1832 Asset Management L.P. 0.33% of their portfolio | 4.3m $191.1m | Added +1.7m |
| FEDERATED HERMES, INC. 0.34% of their portfolio | 4.0m $178.3m | Added +1.5m |
| ARROWSTREET CAPITAL, LIMITED PARTNERSHIP 0.11% of their portfolio | 3.5m $154.0m | Added +458.1k |
| BNP PARIBAS ASSET MANAGEMENT Holding S.A. 0.37% of their portfolio | 3.5m $153.1m | Reduced -360.3k |
| Invesco Ltd. 0.03% of their portfolio | 3.3m $147.4m | Added +679.0k |
| CHARLES SCHWAB INVESTMENT MANAGEMENT INC 0.03% of their portfolio | 3.3m $146.2m | Added +208.1k |
| LORD, ABBETT & CO. LLC 0.47% of their portfolio | 3.3m $146.1m | Added +57.4k |
| Abdiel Capital Advisors, LP 12.84% of their portfolio | 3.1m $137.4m | Reduced -502.6k |
| GOLDMAN SACHS GROUP INC 0.02% of their portfolio | 3.0m $132.1m | Added +1.5m |
| Champlain Investment Partners, LLC 0.90% of their portfolio | 2.9m $129.1m | Reduced -341.2k |
| D. E. Shaw & Co., Inc. 0.13% of their portfolio | 2.9m $128.1m | Added +1.8m |
| NORTHERN TRUST CORP 0.02% of their portfolio | 2.9m $126.7m | Reduced -20.5k |
| HMI Capital Management, L.P. 7.09% of their portfolio | 2.8m $124.9m | Reduced -2.4m |
| EVENTIDE ASSET MANAGEMENT, LLC 1.92% of their portfolio | 2.5m $109.6m | Added +4.1k |
| RENAISSANCE TECHNOLOGIES LLC 0.14% of their portfolio | 2.4m $108.2m | Added +906.2k |
| UBS AM, a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC 0.02% of their portfolio | 2.3m $103.2m | Added +569.6k |
| ZEVENBERGEN CAPITAL INVESTMENTS LLC 1.86% of their portfolio | 2.2m $95.5m | Reduced -68.2k |
| MILLENNIUM MANAGEMENT LLC 0.08% of their portfolio | 2.0m $89.3m | Added +853.3k |
| FRANKLIN RESOURCES INC 0.02% of their portfolio | 2.0m $89.0m | Reduced -117.2k |
| Stephens Investment Management Group LLC 1.11% of their portfolio | 1.9m $83.8m | Reduced -154.6k |
| FIRST TRUST ADVISORS LP 0.07% of their portfolio | 1.9m $83.3m | Added +132.9k |
| ARK Investment Management LLC 0.61% of their portfolio | 1.9m $83.2m | Reduced -26.2k |
| Amundi 0.03% of their portfolio | 1.8m $77.9m | Added +720.6k |
| TWO SIGMA INVESTMENTS, LP 0.14% of their portfolio | 1.8m $80.2m | Added +1.2m |
| WORLDQUANT MILLENNIUM ADVISORS LLC 0.39% of their portfolio | 1.8m $79.4m | Added +1.4m |
| MACQUARIE GROUP LTD 0.10% of their portfolio | 1.8m $78.8m | Added +1.7m |
| Bank of New York Mellon Corp 0.01% of their portfolio | 1.8m $78.3m | Reduced -376.1k |
| 12 West Capital Management LP 8.26% of their portfolio | 1.8m $78.1m | Unchanged |
| Allspring Global Investments Holdings, LLC 0.12% of their portfolio | 1.7m $74.3m | Reduced -411.2k |
| ROYAL BANK OF CANADA 0.01% of their portfolio | 1.7m $75.1m | Added +1.1m |
| Granahan Investment Management, LLC 2.91% of their portfolio | 1.6m $71.4m | Added +114.3k |
| BLAIR WILLIAM & CO/IL 0.20% of their portfolio | 1.6m $71.4m | Reduced -19.0k |
| WESTFIELD CAPITAL MANAGEMENT CO LP 0.30% of their portfolio | 1.6m $71.0m | Added +1.4m |
| GREENOAKS LLC 2.60% of their portfolio | 1.6m $69.2m | Reduced -656.5k |
| VOYA INVESTMENT MANAGEMENT LLC 0.07% of their portfolio | 1.5m $67.0m | Reduced -585.7k |
| NEUBERGER BERMAN GROUP LLC 0.05% of their portfolio | 1.5m $65.2m | Added +1.4m |
| MANE GLOBAL CAPITAL MANAGEMENT LP 2.76% of their portfolio | 1.4m $60.5m | Added +283.6k |
| Swiss National Bank 0.04% of their portfolio | 1.3m $59.6m | Added +216.7k |
| Nuveen, LLC 0.02% of their portfolio | 1.3m $58.4m | Reduced -383.8k |
| DIMENSIONAL FUND ADVISORS LP 0.01% of their portfolio | 1.3m $55.8m | Added +23.0k |
| Perpetual Ltd 0.63% of their portfolio | 1.2m $54.0m | Reduced -671.0k |
| NZS Capital, LLC 1.82% of their portfolio | 1.2m $53.7m | Added +92.3k |
| TD Asset Management Inc 0.04% of their portfolio | 1.1m $50.0m | Reduced -72.4k |
| RAYMOND JAMES FINANCIAL INC 0.02% of their portfolio | 1.1m $48.8m | Added +494.8k |
| Delta Global Management LP 3.21% of their portfolio | 1.1m $48.1m | Added +909.6k |
| JUPITER ASSET MANAGEMENT LTD 0.39% of their portfolio | 1.1m $46.8m | Added +953.5k |
| Legal & General Group Plc 0.01% of their portfolio | 1.1m $46.6m | Added +144.2k |
| Fiera Capital Corp 0.16% of their portfolio | 1.0m $45.9m | New |
| RIVERBRIDGE PARTNERS LLC 0.74% of their portfolio | 1.0m $45.8m | Reduced -138.4k |
| SEI INVESTMENTS CO 0.05% of their portfolio | 1.0m $45.6m | Added +60.4k |
| AustralianSuper Pty Ltd 0.22% of their portfolio | 1.0m $44.4m | New |
| COMMERCE BANK 0.26% of their portfolio | 987.2k $43.7m | Added +6.8k |
| DEUTSCHE BANK AG\ 0.02% of their portfolio | 979.1k $43.4m | Added +14.1k |
| BANK OF NOVA SCOTIA 0.09% of their portfolio | 952.7k $42.2m | Added +703.2k |
| Robeco Institutional Asset Management B.V. 0.07% of their portfolio | 944.6k $41.8m | Added +485.4k |
| KAYNE ANDERSON RUDNICK INVESTMENT MANAGEMENT LLC 0.10% of their portfolio | 927.4k $41.1m | Reduced -84.0k |
| GENERATION INVESTMENT MANAGEMENT LLP 0.26% of their portfolio | 912.8k $40.4m | Unchanged |
| ALKEON CAPITAL MANAGEMENT LLC 0.19% of their portfolio | 900.0k $39.9m | Added +400.0k |
| Balyasny Asset Management L.P. 0.09% of their portfolio | 892.3k $39.5m | Reduced -1.2m |
| CITIGROUP INC 0.03% of their portfolio | 889.3k $39.4m | Added +278.4k |
| California Public Employees Retirement System 0.02% of their portfolio | 814.5k $36.1m | Added +60.8k |
| RHUMBLINE ADVISERS 0.03% of their portfolio | 766.4k $33.9m | Added +164.3k |
| Squarepoint Ops LLC 0.07% of their portfolio | 760.8k $33.7m | Added +491.3k |
| JANUS HENDERSON GROUP PLC 0.02% of their portfolio | 752.6k $33.3m | Added +741.1k |
| Bridgewater Associates, LP 0.12% of their portfolio | 694.1k $30.7m | Reduced -237.5k |
| BNP PARIBAS FINANCIAL MARKETS 0.02% of their portfolio | 693.2k $30.7m | Reduced -184.9k |
| Capital International, Inc./CA/ 0.30% of their portfolio | 688.8k $30.5m | Added +2.4k |
| CALIFORNIA STATE TEACHERS RETIREMENT SYSTEM 0.03% of their portfolio | 678.0k $30.0m | Added +67.4k |
| WELLS FARGO & COMPANY/MN 0.01% of their portfolio | 653.3k $28.9m | Added +269.4k |
| Caisse de depot et placement du Quebec 0.06% of their portfolio | 644.5k $28.5m | Added +323.5k |
| ICONIQ Capital, LLC 0.35% of their portfolio | 627.8k $20.9m | Reduced -2.5k |
| Technology Crossover Management X, Ltd. 3.09% of their portfolio | 625.0k $27.7m | Unchanged |
| Verition Fund Management LLC 0.15% of their portfolio | 607.3k $26.9m | Added +338.0k |
| BARCLAYS PLC 0.01% of their portfolio | 601.3k $26.6m | Added +202.3k |
| Capital Group Private Client Services, Inc. 0.23% of their portfolio | 597.3k $26.5m | Reduced -46.6k |
| EDMOND DE ROTHSCHILD HOLDING S.A. 0.41% of their portfolio | 574.0k $25.4m | Reduced -44.1k |
| GLYNN CAPITAL MANAGEMENT LLC 5.71% of their portfolio | 573.8k $25.4m | Added +54.9k |
| Man Group plc 0.05% of their portfolio | 563.1k $24.9m | Reduced -62.7k |