Oppenheimer & Co. Inc. Grows Stock Holdings in Toast, Inc. (NYSE:TOST)

Oppenheimer & Co. Inc. raised its holdings in Toast, Inc. (NYSE:TOST - Free Report) by 42.9% in the 1st quarter, according to the company in its most recent filing with the SEC. The firm owned 59,431 shares of the company's stock after acquiring an additional 17,834 shares during the quarter. Oppenheimer & Co. Inc.'s holdings in Toast were worth $1,971,000 as of its most recent SEC filing.

Several other large investors have also recently modified their holdings of the business. Keel Point LLC boosted its position in Toast by 2.7% during the fourth quarter. Keel Point LLC now owns 12,269 shares of the company's stock valued at $447,000 after acquiring an additional 326 shares during the last quarter. EverSource Wealth Advisors LLC boosted its position in shares of Toast by 11.6% during the 4th quarter. EverSource Wealth Advisors LLC now owns 3,435 shares of the company's stock worth $125,000 after purchasing an additional 358 shares in the last quarter. Blue Trust Inc. boosted its position in shares of Toast by 120.4% during the 4th quarter. Blue Trust Inc. now owns 692 shares of the company's stock worth $25,000 after purchasing an additional 378 shares in the last quarter. Piscataqua Savings Bank boosted its position in shares of Toast by 57.1% during the 1st quarter. Piscataqua Savings Bank now owns 1,100 shares of the company's stock worth $36,000 after purchasing an additional 400 shares in the last quarter. Finally, Farther Finance Advisors LLC boosted its position in shares of Toast by 19.8% during the 4th quarter. Farther Finance Advisors LLC now owns 2,435 shares of the company's stock worth $89,000 after purchasing an additional 402 shares in the last quarter. Institutional investors own 82.91% of the company's stock.

Insider Transactions at Toast

In related news, General Counsel Brian R. Elworthy sold 300,000 shares of Toast stock in a transaction that occurred 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 completion of the transaction, the general counsel now directly owns 216,156 shares in the company, valued at approximately $9,208,245.60. The trade was a 58.12% decrease in their position. The transaction 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 Toast stock in a transaction that occurred on Wednesday, May 14th. The shares were sold at an average price of $44.74, for a total transaction of $3,131,800.00. Following the completion of the transaction, the director now owns 187,140 shares of the company's stock, valued at $8,372,643.60. This represents a 27.22% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 468,212 shares of company stock worth $19,551,906 in the last quarter. Insiders own 13.32% of the company's stock.

Analysts Set New Price Targets

A number of research firms have recently issued reports on TOST. BMO Capital Markets increased their price objective on shares of Toast from $44.00 to $45.00 and gave the stock an "outperform" rating in a research report on Monday, May 12th. Wall Street Zen cut shares of Toast from a "strong-buy" rating to a "buy" rating in a research report on Sunday, June 1st. Wolfe Research raised shares of Toast from a "peer perform" rating to an "outperform" rating and set a $44.00 price objective on the stock in a research report on Wednesday, April 23rd. The Goldman Sachs Group lowered their target price on shares of Toast from $43.00 to $38.00 and set a "neutral" rating on the stock in a report on Wednesday, April 2nd. Finally, Morgan Stanley upped their target price on shares of Toast from $46.00 to $50.00 and gave the stock an "overweight" rating in a report on Friday, May 9th. Twelve analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the company. According to MarketBeat.com, Toast currently has an average rating of "Moderate Buy" and an average target price of $41.21.

Toast Trading Up 3.3%

Shares of TOST stock traded up $1.40 during trading hours on Friday, hitting $43.89. 10,659,577 shares of the company were exchanged, compared to its average volume of 6,717,518. The firm has a fifty day simple moving average of $40.68 and a 200 day simple moving average of $38.16. Toast, Inc. has a 52-week low of $22.10 and a 52-week high of $45.56. 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 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.