SG Americas Securities LLC Takes $877,000 Position in Toast, Inc. (NYSE:TOST)

SG Americas Securities LLC purchased a new stake in Toast, Inc. (NYSE:TOST) during the first quarter, according to its most recent 13F filing with the SEC. The firm purchased 26,425 shares of the company’s stock, valued at approximately $877,000.

A number of other institutional investors have also modified their holdings of the company. Vanguard Group Inc. boosted its holdings in shares of Toast by 10.8% in the 4th quarter. Vanguard Group Inc. now owns 42,474,232 shares of the company’s stock valued at $1,548,186,000 after buying an additional 4,147,430 shares in the last quarter. Capital International Investors boosted its holdings in shares of Toast by 1.9% in the 4th quarter. Capital International Investors now owns 41,961,233 shares of the company’s stock valued at $1,529,657,000 after buying an additional 785,641 shares in the last quarter. FMR LLC boosted its stake in Toast by 22.1% in the 4th 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 in the last quarter. Arrowstreet Capital Limited Partnership acquired a new stake in Toast in the 4th quarter worth approximately $282,010,000. Finally, Geode Capital Management LLC boosted its stake in Toast by 2.9% in the 4th quarter. Geode Capital Management LLC now owns 7,061,739 shares of the company’s stock worth $256,970,000 after purchasing an additional 195,805 shares in the last quarter. 82.91% of the stock is currently owned by institutional investors.

Toast Stock Performance

NYSE TOST opened at $42.59 on Thursday. The business has a 50 day simple moving average of $39.65 and a 200 day simple moving average of $38.03. Toast, Inc. has a 52-week low of $22.10 and a 52-week high of $45.56. The stock has a market cap of $21.21 billion, a price-to-earnings ratio of 185.18 and a beta of 2.02.

Analyst Ratings Changes

TOST has been the subject of a number of recent analyst reports. JPMorgan Chase & Co. lifted their target price on shares of Toast from $36.00 to $42.00 and gave the stock a “neutral” rating in a research note on Thursday, February 20th. Robert W. Baird lifted their price objective on shares of Toast from $38.00 to $40.00 and gave the company a “neutral” rating in a research note on Thursday, February 20th. BNP Paribas set a $37.00 price objective on shares of Toast and gave the company a “neutral” rating in a research note on Wednesday, February 19th. DA Davidson decreased their price objective on shares of Toast from $42.00 to $40.00 and set a “neutral” rating for the company in a research note on Wednesday, April 30th. Finally, Piper Sandler lifted their price objective on shares of Toast from $35.00 to $37.00 and gave the company a “neutral” rating in a research note on Friday, May 9th. Twelve investment analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the company. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average target price of $41.21.

Insider Activity

In related news, Director Christopher P. Comparato sold 70,000 shares of the stock in a transaction 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 sale, the director now owns 179,316 shares in the company, valued at approximately $6,134,400.36. This represents a 28.08% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, General Counsel Brian R. Elworthy sold 300,000 shares of the stock in a transaction on Monday, June 2nd. The shares were sold at an average price of $42.60, for a total value of $12,780,000.00. Following the completion of the sale, the general counsel now owns 216,156 shares in the company, valued at approximately $9,208,245.60. This trade represents a 58.12% decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders sold 468,212 shares of company stock valued at $19,551,906. 13.32% of the stock is owned by insiders.

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.