GAMMA Investing LLC Has $128,000 Stake in Toast, Inc. (NYSE:TOST)

GAMMA Investing LLC lifted its position in shares of Toast, Inc. (NYSE:TOST) by 38.7% during the first quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 3,861 shares of the company’s stock after purchasing an additional 1,077 shares during the quarter. GAMMA Investing LLC’s holdings in Toast were worth $128,000 at the end of the most recent reporting period.

A number of other institutional investors also recently modified their holdings of TOST. Vanguard Group Inc. lifted its position in shares of Toast by 10.8% during the fourth quarter. Vanguard Group Inc. now owns 42,474,232 shares of the company’s stock valued at $1,548,186,000 after purchasing an additional 4,147,430 shares in the last quarter. Capital International Investors increased its stake in 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 during the last quarter. FMR LLC lifted its position in shares of Toast by 22.1% during the 4th quarter. FMR LLC now owns 29,853,639 shares of the company’s stock worth $1,088,165,000 after buying an additional 5,403,896 shares in the last quarter. Arrowstreet Capital Limited Partnership purchased a new position in shares of Toast in the 4th quarter worth approximately $282,010,000. Finally, Geode Capital Management LLC boosted its stake in shares of 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 buying an additional 195,805 shares during the last quarter. 82.91% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of analysts recently commented on the company. Wells Fargo & Company lifted their price target on Toast from $39.00 to $46.00 and gave the stock an “overweight” rating in a report on Friday, May 9th. Wolfe Research upgraded Toast from a “peer perform” rating to an “outperform” rating and set a $44.00 target price on the stock in a research note on Wednesday, April 23rd. Truist Financial initiated coverage on shares of Toast in a report on Monday, June 2nd. They issued a “buy” rating and a $48.00 price target on the stock. BMO Capital Markets increased their price target on shares of Toast from $44.00 to $45.00 and gave the company an “outperform” rating in a research report on Monday, May 12th. Finally, Evercore ISI started coverage on shares of Toast in a research report on Wednesday, April 9th. They issued an “in-line” rating and a $29.00 price objective on the stock. Thirteen equities research analysts have rated the stock with a hold rating and twelve have issued a buy rating to the stock. Based on data from MarketBeat, Toast has an average rating of “Hold” and an average price target of $41.21.

Insider Activity

In other news, General Counsel Brian R. Elworthy sold 300,000 shares of the firm’s stock in a transaction on Monday, June 2nd. The shares were sold at an average price of $42.60, for a total transaction of $12,780,000.00. Following the sale, the general counsel owned 216,156 shares in the company, valued at approximately $9,208,245.60. This trade represents a 58.12% decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, Director Christopher P. Comparato sold 70,000 shares of the firm’s stock in a transaction on Wednesday, May 14th. The shares were sold at an average price of $44.74, for a total transaction of $3,131,800.00. Following the sale, the director owned 187,140 shares in the company, valued at approximately $8,372,643.60. This trade represents a 27.22% decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 468,212 shares of company stock worth $19,551,906. Corporate insiders own 13.32% of the company’s stock.

Toast Trading Up 2.4%

Shares of TOST opened at $43.58 on Friday. The company has a market cap of $21.70 billion, a PE ratio of 189.48 and a beta of 2.00. The stock has a 50-day moving average price of $41.73 and a 200-day moving average price of $38.38. Toast, Inc. has a 12-month low of $22.10 and a 12-month high of $45.56.

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.