SG Americas Securities LLC Acquires 19,557 Shares of Toast, Inc. (NYSE:TOST)

SG Americas Securities LLC lifted its holdings in shares of Toast, Inc. (NYSE:TOSTGet Rating) by 214.5% in the third quarter, according to its most recent filing with the SEC. The firm owned 28,674 shares of the company’s stock after acquiring an additional 19,557 shares during the period. SG Americas Securities LLC’s holdings in Toast were worth $479,000 as of its most recent filing with the SEC.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Paloma Partners Management Co lifted its holdings in shares of Toast by 215.1% during the 2nd quarter. Paloma Partners Management Co now owns 54,500 shares of the company’s stock worth $705,000 after acquiring an additional 37,203 shares during the period. Bank Julius Baer & Co. Ltd Zurich bought a new position in shares of Toast during the 2nd quarter worth about $853,000. Trinity Financial Advisors LLC lifted its holdings in shares of Toast by 6.4% during the 3rd quarter. Trinity Financial Advisors LLC now owns 22,693 shares of the company’s stock worth $379,000 after acquiring an additional 1,365 shares during the period. Ocean Capital Management LLC lifted its holdings in Toast by 9.0% during the 3rd quarter. Ocean Capital Management LLC now owns 14,385 shares of the company’s stock valued at $244,000 after purchasing an additional 1,185 shares during the last quarter. Finally, Allen Investment Management LLC bought a new position in Toast during the 2nd quarter valued at about $718,000. 50.82% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

TOST has been the subject of several analyst reports. KeyCorp lifted their price target on shares of Toast from $25.00 to $26.00 and gave the company an “overweight” rating in a report on Friday, November 11th. Morgan Stanley lifted their price target on shares of Toast from $29.00 to $30.00 and gave the company an “overweight” rating in a report on Friday, November 11th. Wolfe Research initiated coverage on shares of Toast in a report on Tuesday, November 29th. They set a “peer perform” rating and a $18.00 price target for the company. Needham & Company LLC lifted their price target on shares of Toast from $27.00 to $32.00 and gave the company a “buy” rating in a report on Friday, November 11th. Finally, William Blair reissued an “outperform” rating on shares of Toast in a report on Thursday, November 10th. One investment analyst has rated the stock with a sell rating, seven have issued a hold rating and eight have issued a buy rating to the company’s stock. According to MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus price target of $23.50.

Toast Price Performance

Shares of NYSE:TOST opened at $21.46 on Wednesday. Toast, Inc. has a one year low of $11.91 and a one year high of $30.60. The company has a 50 day moving average of $18.55 and a 200-day moving average of $18.35. The stock has a market cap of $10.98 billion, a price-to-earnings ratio of -29.40 and a beta of 1.58.

Toast (NYSE:TOSTGet Rating) last issued its quarterly earnings results on Thursday, November 10th. The company reported ($0.19) EPS for the quarter, topping the consensus estimate of ($0.22) by $0.03. Toast had a negative net margin of 6.99% and a negative return on equity of 25.85%. The company had revenue of $752.00 million during the quarter, compared to analysts’ expectations of $714.61 million. Equities research analysts anticipate that Toast, Inc. will post -0.52 earnings per share for the current year.

Insider Transactions at Toast

In other news, COO Aman Narang sold 583,091 shares of Toast stock in a transaction that occurred on Wednesday, December 28th. The shares were sold at an average price of $16.93, for a total transaction of $9,871,730.63. Following the completion of the sale, the chief operating officer now owns 16,909 shares in the company, valued at approximately $286,269.37. The sale was disclosed in a filing with the SEC, which can be accessed through this link. In related news, insider James Michael Matlock sold 25,991 shares of the business’s stock in a transaction that occurred on Wednesday, November 2nd. The shares were sold at an average price of $21.18, for a total transaction of $550,489.38. Following the completion of the transaction, the insider now owns 38,704 shares in the company, valued at $819,750.72. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, COO Aman Narang sold 583,091 shares of the business’s stock in a transaction that occurred on Wednesday, December 28th. The shares were sold at an average price of $16.93, for a total transaction of $9,871,730.63. Following the transaction, the chief operating officer now owns 16,909 shares of the company’s stock, valued at approximately $286,269.37. The disclosure for this sale can be found here. Insiders sold a total of 9,356,016 shares of company stock worth $169,711,840 in the last quarter. 20.16% of the stock is owned by company insiders.

About Toast

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Toast, Inc operates a cloud-based and digital technology platform for the restaurant industry in the United States and Ireland. The company offers Toast Point of Sale (POS), a hardware product; Toast Order & Pay, which allows guests to order and pay from their mobile devices; Toast Flex that is used for on-counter order and pay, as well as used as a server station, guest kiosk, kitchen display system, or order fulfillment station; Toast Go, a handheld POS device that enhances the table turn times through tableside ordering and payment acceptance; and Toast Tap, a card reader.

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Institutional Ownership by Quarter for Toast (NYSE:TOST)

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