Toast, Inc. (NYSE:TOST) Shares Purchased by GSA Capital Partners LLP

Key Points

• GSA Capital Partners LLP increased its stake in Toast, Inc. by 126.8%, acquiring an additional 37,568 shares during the first quarter, which brought their total holdings to 67,188 shares valued at approximately $2.23 million.
• The stock has seen a price range between $22.10 and $49.56 over the past year, with a market capitalization of $24.40 billion and a high price-to-earnings ratio of 213.04.
• Multiple research firms have issued updated forecasts for Toast, with Jefferies raising its price objective from $50.00 to $54.00, while the consensus rating is categorized as a Moderate Buy with an average target price of $43.17.

GSA Capital Partners LLP raised its position in shares of Toast, Inc. (NYSE:TOST - Free Report) by 126.8% in the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 67,188 shares of the company's stock after acquiring an additional 37,568 shares during the quarter. GSA Capital Partners LLP's holdings in Toast were worth $2,229,000 as of its most recent SEC filing.

A number of other institutional investors have also recently made changes to their positions in the company. Wayfinding Financial LLC acquired a new stake in shares of Toast in the 1st quarter worth $34,000. Piscataqua Savings Bank increased its position in Toast by 57.1% during the first quarter. Piscataqua Savings Bank now owns 1,100 shares of the company's stock worth $36,000 after purchasing an additional 400 shares during the last quarter. West Branch Capital LLC boosted its holdings in Toast by 862.1% in the 1st quarter. West Branch Capital LLC now owns 1,116 shares of the company's stock valued at $37,000 after purchasing an additional 1,000 shares during the last quarter. SBI Securities Co. Ltd. boosted its holdings in Toast by 29.2% in the 1st quarter. SBI Securities Co. Ltd. now owns 1,257 shares of the company's stock valued at $42,000 after purchasing an additional 284 shares during the last quarter. Finally, Signaturefd LLC raised its position in shares of Toast by 227.1% during the 1st 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. 82.91% of the stock is owned by institutional investors and hedge funds.

Insider Activity at Toast

In other Toast news, General Counsel Brian R. Elworthy sold 300,000 shares of the business's 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 transaction, the general counsel directly owned 216,156 shares of the company's stock, valued at approximately $9,208,245.60. The trade was a 58.12% decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, CEO Aman Narang sold 13,829 shares of the stock in a transaction dated Wednesday, July 2nd. The stock was sold at an average price of $42.59, for a total transaction of $588,977.11. Following the transaction, the chief executive officer directly owned 302,498 shares of the company's stock, valued at $12,883,389.82. This represents a 4.37% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 466,131 shares of company stock worth $20,048,851 in the last three months. Company insiders own 13.32% of the company's stock.

Toast Stock Performance

Toast stock traded down $2.13 during midday trading on Friday, hitting $46.71. 6,848,365 shares of the company's stock were exchanged, compared to its average volume of 7,143,164. Toast, Inc. has a 12-month low of $22.10 and a 12-month high of $49.56. The stock has a market cap of $23.26 billion, a price-to-earnings ratio of 203.33 and a beta of 2.00. The firm's 50 day simple moving average is $44.07 and its 200 day simple moving average is $39.50.

Wall Street Analyst Weigh In

TOST has been the topic of a number of research analyst reports. Deutsche Bank Aktiengesellschaft initiated coverage on Toast in a research report on Thursday, July 17th. They issued a "buy" rating and a $54.00 target price on the stock. DA Davidson lifted their target price on Toast from $40.00 to $46.00 and gave the company a "neutral" rating in a research report on Tuesday. Morgan Stanley lifted their target price on Toast from $46.00 to $50.00 and gave the company an "overweight" rating in a research report on Friday, May 9th. Evercore ISI initiated coverage on Toast in a research report on Wednesday, April 9th. They issued an "in-line" rating and a $29.00 target price on the stock. Finally, Truist Financial lifted their target price on Toast from $48.00 to $50.00 and gave the company a "buy" rating in a research report on Thursday, July 17th. Twelve investment analysts have rated the stock with a hold rating and fifteen have issued a buy rating to the company. According to MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and an average price target of $43.42.

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.