SG Americas Securities LLC Makes New $877,000 Investment in Toast, Inc. (NYSE:TOST)

SG Americas Securities LLC purchased a new stake in Toast, Inc. (NYSE:TOST - Free Report) during the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor purchased 26,425 shares of the company's stock, valued at approximately $877,000.

Several other hedge funds and other institutional investors have also made changes to their positions in the stock. Charles Schwab Investment Management Inc. boosted its holdings in Toast by 5.6% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 2,938,487 shares of the company's stock worth $107,108,000 after buying an additional 155,446 shares during the last quarter. Procyon Advisors LLC acquired a new stake in shares of Toast in the 1st quarter valued at approximately $242,000. Wealth Enhancement Advisory Services LLC boosted its stake in Toast by 19.5% during the 4th quarter. Wealth Enhancement Advisory Services LLC now owns 22,751 shares of the company's stock worth $829,000 after acquiring an additional 3,713 shares during the last quarter. Jupiter Asset Management Ltd. grew its holdings in Toast by 134.3% during the fourth quarter. Jupiter Asset Management Ltd. now owns 392,853 shares of the company's stock valued at $14,319,000 after purchasing an additional 225,215 shares during the period. Finally, New York Life Investment Management LLC bought a new stake in Toast in the fourth quarter valued at approximately $1,572,000. 82.91% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

A number of equities analysts have recently weighed in on TOST shares. Canaccord Genuity Group lifted their price target on shares of Toast from $43.00 to $48.00 and gave the stock a "buy" rating in a research report on Thursday, February 20th. Royal Bank Of Canada lifted their target price on Toast from $40.00 to $45.00 and gave the stock a "sector perform" rating in a report on Thursday, February 20th. Wolfe Research upgraded Toast from a "peer perform" rating to an "outperform" rating and set a $44.00 price target for the company in a report on Wednesday, April 23rd. Morgan Stanley raised their price target on Toast from $46.00 to $50.00 and gave the stock an "overweight" rating in a research report on Friday, May 9th. Finally, BMO Capital Markets boosted their price objective on Toast from $44.00 to $45.00 and gave the company an "outperform" rating in a research report on Monday, May 12th. Twelve research analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the company. According to data from MarketBeat, the stock has a consensus rating of "Moderate Buy" and an average target price of $41.21.

Toast Price Performance

NYSE TOST traded up $0.13 during trading on Thursday, reaching $42.59. 4,366,525 shares of the company's stock were exchanged, compared to its average volume of 6,650,504. The business has a 50 day moving average price of $39.65 and a 200-day moving average price of $38.03. The stock has a market capitalization of $21.21 billion, a P/E ratio of 185.18 and a beta of 2.02. Toast, Inc. has a fifty-two week low of $22.10 and a fifty-two week high of $45.56.

Insider Transactions at Toast

In other news, Director Christopher P. Comparato sold 70,000 shares of the firm's stock in a transaction dated Thursday, April 17th. The shares were sold at an average price of $34.21, for a total transaction of $2,394,700.00. Following the completion of the sale, the director now owns 179,316 shares in the company, valued at approximately $6,134,400.36. This trade represents a 28.08% decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, Director Paul D. Bell sold 11,000 shares of the company's stock in a transaction dated Thursday, May 15th. The shares were sold at an average price of $45.13, for a total transaction of $496,430.00. Following the completion of the transaction, the director now owns 229,680 shares in the company, valued at approximately $10,365,458.40. This trade represents a 4.57% decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders sold 468,212 shares of company stock worth $19,551,906. 13.32% of the stock is owned by company insiders.

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.