Oppenheimer & Co. Inc. Makes New Investment in Toast, Inc. (NYSE:TOST)

Oppenheimer & Co. Inc. bought a new position in shares of Toast, Inc. (NYSE:TOST) in the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm bought 14,030 shares of the company’s stock, valued at approximately $397,000.

Other large investors have also recently made changes to their positions in the company. Victory Capital Management Inc. boosted its holdings in shares of Toast by 1.3% in the third quarter. Victory Capital Management Inc. now owns 49,663 shares of the company’s stock valued at $1,406,000 after purchasing an additional 661 shares during the period. GSA Capital Partners LLP raised its position in Toast by 179.7% during the 3rd quarter. GSA Capital Partners LLP now owns 53,064 shares of the company’s stock valued at $1,502,000 after purchasing an additional 34,090 shares in the last quarter. Entropy Technologies LP purchased a new stake in shares of Toast in the 3rd quarter worth $894,000. Lisanti Capital Growth LLC grew its position in shares of Toast by 43.0% during the 3rd quarter. Lisanti Capital Growth LLC now owns 60,245 shares of the company’s stock worth $1,706,000 after buying an additional 18,125 shares in the last quarter. Finally, Kampmann Melissa S. increased its stake in shares of Toast by 28.9% during the third quarter. Kampmann Melissa S. now owns 56,120 shares of the company’s stock valued at $1,589,000 after buying an additional 12,590 shares during the period. 82.91% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling

In related news, CFO Elena Gomez sold 1,917 shares of the business’s stock in a transaction on Monday, November 4th. The shares were sold at an average price of $31.08, for a total value of $59,580.36. Following the completion of the sale, the chief financial officer now owns 159,615 shares of the company’s stock, valued at approximately $4,960,834.20. The trade was a 1.19 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Richard Kent Bennett sold 100,000 shares of the stock in a transaction on Tuesday, November 12th. The shares were sold at an average price of $36.67, for a total transaction of $3,667,000.00. Following the transaction, the director now directly owns 418,591 shares in the company, valued at approximately $15,349,731.97. The trade was a 19.28 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 1,475,651 shares of company stock valued at $43,037,212 over the last quarter. 13.32% of the stock is currently owned by company insiders.

Toast Price Performance

Shares of TOST stock opened at $42.36 on Friday. The business has a fifty day moving average of $30.80 and a 200 day moving average of $26.94. The firm has a market capitalization of $19.95 billion, a price-to-earnings ratio of -325.85, a price-to-earnings-growth ratio of 54.16 and a beta of 1.74. Toast, Inc. has a 1 year low of $13.77 and a 1 year high of $43.29.

Wall Street Analyst Weigh In

TOST has been the subject of a number of research reports. Royal Bank of Canada upped their price objective on shares of Toast from $27.00 to $40.00 and gave the stock a “sector perform” rating in a research note on Friday, November 8th. Morgan Stanley increased their price objective on shares of Toast from $30.00 to $33.00 and gave the company an “overweight” rating in a research note on Tuesday, October 22nd. DA Davidson boosted their price objective on shares of Toast from $35.00 to $44.00 and gave the stock a “buy” rating in a research note on Tuesday, November 12th. Compass Point started coverage on Toast in a research report on Wednesday. They set a “buy” rating and a $49.00 target price on the stock. Finally, Stephens boosted their price target on Toast from $28.00 to $30.00 and gave the stock an “equal weight” rating in a research report on Friday, October 18th. One research analyst has rated the stock with a sell rating, ten have issued a hold rating and eleven have given a buy rating to the company’s stock. According to MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus target price of $33.86.

Toast Company Profile

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.