Kessler Investment Group LLC Buys 19,497 Shares of Toast, Inc. (NYSE:TOST)

Kessler Investment Group LLC grew its stake in shares of Toast, Inc. (NYSE:TOST - Free Report) by 17.2% in the first quarter, according to its most recent disclosure with the SEC. The fund owned 132,529 shares of the company's stock after buying an additional 19,497 shares during the period. Toast makes up 2.1% of Kessler Investment Group LLC's investment portfolio, making the stock its 24th biggest holding. Kessler Investment Group LLC's holdings in Toast were worth $4,396,000 as of its most recent filing with the SEC.

Other hedge funds have also made changes to their positions in the company. Arrowstreet Capital Limited Partnership bought a new position in Toast during the fourth quarter valued at about $282,010,000. Norges Bank acquired a new stake in shares of Toast during the 4th quarter worth approximately $205,888,000. FMR LLC grew its holdings 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 purchasing an additional 5,403,896 shares in the last quarter. Vanguard Group Inc. increased 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 during the period. Finally, Voloridge Investment Management LLC raised its stake in shares of Toast by 898.8% in the fourth quarter. Voloridge Investment Management LLC now owns 2,858,720 shares of the company's stock valued at $104,200,000 after purchasing an additional 2,572,503 shares in the last quarter. Institutional investors own 82.91% of the company's stock.

Wall Street Analysts Forecast Growth

TOST has been the topic of a number of recent research reports. Piper Sandler lifted their price target on shares of Toast from $35.00 to $37.00 and gave the stock a "neutral" rating in a research note on Friday, May 9th. Evercore ISI initiated coverage on shares of Toast in a research report on Wednesday, April 9th. They set an "in-line" rating and a $29.00 target price on the stock. BMO Capital Markets upped their target price 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. Wells Fargo & Company increased their price target on shares of Toast from $39.00 to $46.00 and gave the stock an "overweight" rating in a research report on Friday, May 9th. Finally, Wolfe Research upgraded shares of Toast from a "peer perform" rating to an "outperform" rating and set a $44.00 price target for the company in a research note on Wednesday, April 23rd. Twelve investment analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the stock. According to data from MarketBeat, Toast presently has an average rating of "Moderate Buy" and a consensus target price of $41.21.

Toast Stock Up 3.3%

Toast stock opened at $43.89 on Friday. The stock has a 50-day simple moving average of $40.87 and a 200 day simple moving average of $38.20. The stock has a market capitalization of $21.86 billion, a price-to-earnings ratio of 190.84 and a beta of 2.02. Toast, Inc. has a 12-month low of $22.10 and a 12-month high of $45.56.

Insider Buying and Selling at Toast

In other Toast news, General Counsel Brian R. Elworthy sold 300,000 shares of the stock in a transaction on Monday, June 2nd. The stock was sold at an average price of $42.60, for a total value of $12,780,000.00. Following the transaction, the general counsel now directly owns 216,156 shares in the company, valued at approximately $9,208,245.60. This trade represents a 58.12% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Christopher P. Comparato sold 70,000 shares of the business's stock in a transaction on Wednesday, May 14th. The stock was sold at an average price of $44.74, for a total value of $3,131,800.00. Following the sale, the director now owns 187,140 shares of the company's stock, valued at approximately $8,372,643.60. The trade was a 27.22% decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders sold 468,212 shares of company stock worth $19,551,906. 13.32% of the stock is currently owned by corporate insiders.

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.

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