13,294 Shares in Toast, Inc. (NYSE:TOST) Bought by Blueshift Asset Management LLC

Key Points

• Blueshift Asset Management LLC has invested approximately $441,000 in Toast, Inc., acquiring 13,294 shares of the company's stock.
• Several large investors have significantly increased their positions in Toast, with Principal Financial Group raising its stake by 14,258.8%, owning over 5.4 million shares.
• Analyst ratings are predominantly positive, with a consensus rating of "Moderate Buy" and an average target price of $43.42 for the stock.

Blueshift Asset Management LLC purchased a new stake in shares of Toast, Inc. (NYSE:TOST - Free Report) in the 1st quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor purchased 13,294 shares of the company's stock, valued at approximately $441,000.

Other institutional investors also recently added to or reduced their stakes in the company. Wayfinding Financial LLC bought a new position in Toast during the first quarter valued at about $34,000. Piscataqua Savings Bank grew its position in Toast by 57.1% during the first quarter. Piscataqua Savings Bank now owns 1,100 shares of the company's stock valued at $36,000 after buying an additional 400 shares during the period. West Branch Capital LLC grew its position in Toast by 862.1% during the first quarter. West Branch Capital LLC now owns 1,116 shares of the company's stock valued at $37,000 after buying an additional 1,000 shares during the period. SBI Securities Co. Ltd. grew its position in Toast by 29.2% during the first quarter. SBI Securities Co. Ltd. now owns 1,257 shares of the company's stock valued at $42,000 after buying an additional 284 shares during the period. Finally, Signaturefd LLC grew its position in Toast by 227.1% during the first quarter. Signaturefd LLC now owns 1,472 shares of the company's stock valued at $49,000 after buying an additional 1,022 shares during the period. Institutional investors own 82.91% of the company's stock.

Analyst Ratings Changes

A number of equities analysts have weighed in on the stock. Deutsche Bank Aktiengesellschaft initiated coverage on shares of Toast in a research report on Thursday, July 17th. They set a "buy" rating and a $54.00 target price for the company. Truist Financial upped their price target on shares of Toast from $48.00 to $50.00 and gave the company a "buy" rating in a research note on Thursday, July 17th. Morgan Stanley upped their price target on shares of Toast from $46.00 to $50.00 and gave the company an "overweight" rating in a research note on Friday, May 9th. BMO Capital Markets upped their price target on shares of Toast from $44.00 to $45.00 and gave the company an "outperform" rating in a research note on Monday, May 12th. Finally, Piper Sandler upped their price target 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 research analysts have rated the stock with a hold rating and fifteen have assigned a buy rating to the company's stock. According to MarketBeat, the company currently has an average rating of "Moderate Buy" and an average target price of $43.42.

Insider Activity

In other Toast news, CFO Elena Gomez sold 34,170 shares of Toast stock in a transaction that occurred on Wednesday, July 2nd. The shares were sold at an average price of $42.56, for a total transaction of $1,454,275.20. Following the transaction, the chief financial officer directly owned 139,357 shares of the company's stock, valued at approximately $5,931,033.92. This trade represents a 19.69% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, General Counsel Brian R. Elworthy sold 300,000 shares of Toast stock in a transaction that occurred on Monday, June 2nd. The stock was sold at an average price of $42.60, for a total transaction of $12,780,000.00. Following the transaction, the general counsel directly owned 216,156 shares in the company, valued at $9,208,245.60. This trade represents a 58.12% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders sold 466,131 shares of company stock valued at $20,048,851. Insiders own 13.32% of the company's stock.

Toast Trading Down 4.3%

Shares of TOST stock traded down $2.10 during trading hours on Friday, hitting $46.74. 8,977,786 shares of the company's stock were exchanged, compared to its average volume of 8,397,469. The company has a market capitalization of $23.28 billion, a PE ratio of 203.22 and a beta of 2.01. Toast, Inc. has a 12-month low of $22.10 and a 12-month high of $49.56. The business's 50 day simple moving average is $44.28 and its 200-day simple moving average is $39.71.

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.