SG Americas Securities LLC Purchases 145,890 Shares of Toast, Inc. $TOST

SG Americas Securities LLC raised its position in shares of Toast, Inc. (NYSE:TOST) by 50.6% in the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 434,176 shares of the company’s stock after buying an additional 145,890 shares during the quarter. SG Americas Securities LLC owned about 0.08% of Toast worth $11,510,000 at the end of the most recent quarter.

Other hedge funds have also recently modified their holdings of the company. Alliancebernstein L.P. grew its position in shares of Toast by 2,432.8% in the 3rd quarter. Alliancebernstein L.P. now owns 8,215,758 shares of the company’s stock worth $299,957,000 after buying an additional 7,891,383 shares during the period. Norges Bank purchased a new position in Toast during the 4th quarter valued at about $202,808,000. ValueAct Holdings L.P. boosted its stake in Toast by 135.9% during the fourth quarter. ValueAct Holdings L.P. now owns 8,015,277 shares of the company’s stock worth $284,622,000 after acquiring an additional 4,618,077 shares in the last quarter. Capital International Investors boosted its stake in Toast by 7.4% during the third quarter. Capital International Investors now owns 48,428,060 shares of the company’s stock worth $1,768,256,000 after acquiring an additional 3,351,545 shares in the last quarter. Finally, XN LP grew its holdings in Toast by 50.8% in the fourth quarter. XN LP now owns 8,988,386 shares of the company’s stock worth $319,178,000 after purchasing an additional 3,029,856 shares during the period. Institutional investors own 82.91% of the company’s stock.

Insider Activity

In related news, CRO Jonathan Vassil sold 6,438 shares of the firm’s stock in a transaction that occurred on Thursday, April 2nd. The shares were sold at an average price of $26.19, for a total transaction of $168,611.22. Following the completion of the sale, the executive owned 146,618 shares of the company’s stock, valued at $3,839,925.42. This trade represents a 4.21% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CFO Elena Gomez sold 8,929 shares of the firm’s stock in a transaction that occurred on Thursday, April 2nd. The shares were sold at an average price of $26.19, for a total transaction of $233,850.51. Following the sale, the chief financial officer directly owned 173,064 shares of the company’s stock, valued at $4,532,546.16. This trade represents a 4.91% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Over the last quarter, insiders have sold 147,783 shares of company stock valued at $3,838,037. Company insiders own 10.03% of the company’s stock.

Toast Stock Performance

NYSE:TOST opened at $27.16 on Friday. The firm has a market cap of $14.01 billion, a P/E ratio of 41.78 and a beta of 1.76. Toast, Inc. has a fifty-two week low of $22.26 and a fifty-two week high of $49.66. The firm has a 50-day simple moving average of $25.69 and a two-hundred day simple moving average of $28.94.

Wall Street Analysts Forecast Growth

A number of brokerages have weighed in on TOST. Morgan Stanley set a $45.00 target price on shares of Toast in a research note on Friday, May 8th. Oppenheimer reissued an “outperform” rating and issued a $36.00 price target on shares of Toast in a research report on Friday, May 8th. Weiss Ratings restated a “hold (c)” rating on shares of Toast in a research note on Wednesday, May 20th. DA Davidson reduced their price objective on Toast from $33.00 to $28.00 and set a “neutral” rating for the company in a research report on Tuesday, May 12th. Finally, Piper Sandler began coverage on Toast in a research note on Wednesday, June 10th. They set an “overweight” rating and a $32.00 price objective for the company. Two investment analysts have rated the stock with a Strong Buy rating, seventeen have issued a Buy rating and eight have given a Hold rating to the company. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $37.62.

About Toast

Toast, Inc (NYSE: TOST) is a technology company that builds a cloud-based platform for restaurants and other foodservice businesses. Headquartered in Boston, Massachusetts, Toast offers integrated point-of-sale (POS) systems and a suite of software and hardware designed to streamline front-of-house and back-of-house operations. The company went public in 2021 and has positioned itself as a vertically integrated provider for the restaurant industry.

Toast’s product portfolio includes touchscreen POS terminals and handheld order-and-pay devices, kitchen display systems, and peripherals tailored for high-volume foodservice environments.