GAMMA Investing LLC Raises Stock Position in Toast, Inc. (NYSE:TOST)

GAMMA Investing LLC raised its stake in shares of Toast, Inc. (NYSE:TOST - Free Report) by 4,500.2% in the first quarter, according to its most recent 13F filing with the SEC. The fund owned 128,069 shares of the company's stock after buying an additional 125,285 shares during the period. GAMMA Investing LLC's holdings in Toast were worth $4,248,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also modified their holdings of the stock. Vanguard Group Inc. boosted its holdings in Toast by 10.8% during the fourth quarter. Vanguard Group Inc. now owns 42,474,232 shares of the company's stock worth $1,548,186,000 after buying an additional 4,147,430 shares in the last quarter. Capital International Investors grew its position in shares of Toast by 1.9% during the 4th quarter. Capital International Investors now owns 41,961,233 shares of the company's stock valued at $1,529,657,000 after acquiring an additional 785,641 shares during the period. FMR LLC grew 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 valued at $1,088,165,000 after acquiring an additional 5,403,896 shares during the period. Arrowstreet Capital Limited Partnership purchased a new position in shares of Toast in the 4th quarter valued at about $282,010,000. Finally, Geode Capital Management LLC raised its holdings 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 during the period. Institutional investors and hedge funds own 82.91% of the company's stock.

Insider Activity

In other news, Director Susan Chapman-Hughes sold 7,500 shares of the stock in a transaction on Friday, June 6th. The stock was sold at an average price of $44.00, for a total transaction of $330,000.00. Following the completion of the transaction, the director now directly owns 23,030 shares in the company, valued at approximately $1,013,320. This represents a 24.57% decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, Director Richard Kent Bennett sold 9,712 shares of the business's stock in a transaction that occurred on Tuesday, June 10th. The shares were sold at an average price of $43.14, for a total transaction of $418,975.68. Following the completion of the sale, the director now directly owns 534,167 shares in the company, valued at $23,043,964.38. This trade represents a 1.79% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 629,341 shares of company stock valued at $25,249,141 in the last 90 days. Company insiders own 13.32% of the company's stock.

Toast Price Performance

Shares of TOST traded down $0.69 during mid-day trading on Thursday, reaching $42.54. The stock had a trading volume of 3,515,292 shares, compared to its average volume of 6,743,899. Toast, Inc. has a 52-week low of $21.32 and a 52-week high of $45.56. The firm has a market cap of $21.18 billion, a price-to-earnings ratio of -4,249.75, a P/E/G ratio of 2.16 and a beta of 2.02. The business's fifty day moving average is $38.83 and its 200 day moving average is $38.06.

Wall Street Analyst Weigh In

A number of research firms recently issued reports on TOST. UBS Group lifted their price target on shares of Toast from $41.00 to $47.00 and gave the company a "buy" rating in a research note on Thursday, February 20th. Robert W. Baird lifted their target price on shares of Toast from $38.00 to $40.00 and gave the company a "neutral" rating in a research report on Thursday, February 20th. Wolfe Research raised shares of Toast from a "peer perform" rating to an "outperform" rating and set a $44.00 target price for the company in a research note on Wednesday, April 23rd. Needham & Company LLC reaffirmed a "buy" rating and issued a $50.00 price target on shares of Toast in a research note on Thursday, February 20th. Finally, The Goldman Sachs Group lowered their price objective on Toast from $43.00 to $38.00 and set a "neutral" rating on the stock in a report on Wednesday, April 2nd. Twelve research analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the stock. Based on data from MarketBeat, Toast has a consensus rating of "Moderate Buy" and an average price target of $41.21.

Toast 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.