SG Americas Securities LLC Makes New Investment in Toast, Inc. (NYSE:TOST)

SG Americas Securities LLC acquired a new position in shares of Toast, Inc. (NYSE:TOST) during the 1st quarter, Holdings Channel reports. The firm acquired 26,425 shares of the company’s stock, valued at approximately $877,000.

Several other large investors have also recently added to or reduced their stakes in TOST. Arrowstreet Capital Limited Partnership bought a new position in shares of Toast in the fourth quarter worth $282,010,000. Norges Bank bought a new position in shares of Toast in the fourth quarter worth $205,888,000. FMR LLC increased its position in shares of Toast by 22.1% in the fourth quarter. FMR LLC now owns 29,853,639 shares of the company’s stock worth $1,088,165,000 after purchasing an additional 5,403,896 shares during the period. Vanguard Group Inc. increased its position in shares of Toast by 10.8% in the fourth quarter. Vanguard Group Inc. now owns 42,474,232 shares of the company’s stock worth $1,548,186,000 after purchasing an additional 4,147,430 shares during the period. Finally, Voloridge Investment Management LLC increased its position in shares of Toast by 898.8% in the fourth quarter. Voloridge Investment Management LLC now owns 2,858,720 shares of the company’s stock worth $104,200,000 after purchasing an additional 2,572,503 shares during the period. Institutional investors own 82.91% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research analysts recently commented on the company. Wells Fargo & Company raised their price target on Toast from $39.00 to $46.00 and gave the stock an “overweight” rating in a research report on Friday, May 9th. Robert W. Baird raised their price target on Toast from $38.00 to $40.00 and gave the stock a “neutral” rating in a research report on Thursday, February 20th. Needham & Company LLC reaffirmed a “buy” rating and issued a $50.00 price objective on shares of Toast in a research note on Thursday, February 20th. BMO Capital Markets raised their price objective on Toast from $44.00 to $45.00 and gave the company an “outperform” rating in a research note on Monday, May 12th. Finally, Keefe, Bruyette & Woods raised their price objective on Toast from $40.00 to $42.00 and gave the company a “market perform” rating in a research note on Thursday, February 20th. Twelve research analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the company. According to MarketBeat.com, Toast has an average rating of “Moderate Buy” and a consensus target price of $41.21.

Insider Buying and Selling at Toast

In other Toast news, Director Christopher P. Comparato sold 70,000 shares of the business’s stock in a transaction that occurred on Thursday, April 17th. The stock was sold at an average price of $34.21, for a total value of $2,394,700.00. Following the transaction, the director now directly owns 179,316 shares of the company’s stock, valued at approximately $6,134,400.36. The trade was a 28.08% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Paul D. Bell sold 11,000 shares of the business’s stock in a transaction that occurred on Thursday, May 15th. The shares were sold at an average price of $45.13, for a total value of $496,430.00. Following the completion of the transaction, the director now directly owns 229,680 shares in the company, valued at approximately $10,365,458.40. This trade represents a 4.57% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 468,212 shares of company stock valued at $19,551,906. 13.32% of the stock is currently owned by company insiders.

Toast Stock Performance

Shares of TOST opened at $42.59 on Thursday. Toast, Inc. has a 52-week low of $22.10 and a 52-week high of $45.56. The business’s 50 day moving average price is $39.65 and its two-hundred day moving average price is $38.03. The firm has a market cap of $21.21 billion, a PE ratio of 185.18 and a beta of 2.02.

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.