GAMMA Investing LLC Buys 125,285 Shares of Toast, Inc. (NYSE:TOST)

GAMMA Investing LLC lifted its holdings in shares of Toast, Inc. (NYSE:TOST) by 4,500.2% in the 1st quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 128,069 shares of the company’s stock after acquiring an additional 125,285 shares during the quarter. GAMMA Investing LLC’s holdings in Toast were worth $4,248,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently made changes to their positions in the business. Blue Trust Inc. lifted its holdings in Toast by 120.4% during the 4th quarter. Blue Trust Inc. now owns 692 shares of the company’s stock worth $25,000 after purchasing an additional 378 shares during the last quarter. Stonebridge Financial Group LLC acquired a new stake in Toast during the 4th quarter worth approximately $34,000. SBI Securities Co. Ltd. acquired a new stake in Toast during the 4th quarter worth approximately $35,000. Wingate Wealth Advisors Inc. acquired a new stake in Toast during the 4th quarter worth approximately $40,000. Finally, Newbridge Financial Services Group Inc. acquired a new stake in Toast during the 4th quarter worth approximately $42,000. 82.91% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

A number of analysts have recently weighed in on the company. Keefe, Bruyette & Woods upped their target price on Toast from $40.00 to $42.00 and gave the company a “market perform” rating in a research report on Thursday, February 20th. Needham & Company LLC reissued a “buy” rating and set a $50.00 price target on shares of Toast in a report on Thursday, February 20th. DA Davidson lowered their price target on Toast from $42.00 to $40.00 and set a “neutral” rating for the company in a report on Wednesday, April 30th. UBS Group boosted their price target on Toast from $41.00 to $47.00 and gave the stock a “buy” rating in a report on Thursday, February 20th. Finally, Canaccord Genuity Group boosted their price target on Toast from $43.00 to $48.00 and gave the stock a “buy” rating in a report on Thursday, February 20th. Twelve research analysts have rated the stock with a hold rating and thirteen have given a buy rating to the company’s stock. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average target price of $41.21.

Insiders Place Their Bets

In other news, Director Deval L. Patrick sold 34,222 shares of the stock in a transaction that occurred on Thursday, March 13th. The stock was sold at an average price of $33.01, for a total value of $1,129,668.22. Following the completion of the sale, the director now directly owns 13,260 shares of the company’s stock, valued at $437,712.60. This represents a 72.07% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, President Stephen Fredette sold 47,073 shares of the stock in a transaction that occurred on Monday, March 17th. The stock was sold at an average price of $35.03, for a total value of $1,648,967.19. Following the completion of the sale, the president now directly owns 1,491,773 shares of the company’s stock, valued at approximately $52,256,808.19. This trade represents a 3.06% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 663,563 shares of company stock worth $26,378,809. Corporate insiders own 13.32% of the company’s stock.

Toast Price Performance

Shares of Toast stock opened at $43.37 on Wednesday. Toast, Inc. has a one year low of $21.32 and a one year high of $45.56. The stock’s 50-day moving average is $38.34 and its 200 day moving average is $38.03. The firm has a market cap of $21.60 billion, a price-to-earnings ratio of -4,332.57, a PEG ratio of 2.16 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.