Sigma Planning Corp Buys Shares of 20,912 Toast, Inc. (NYSE:TOST)

Sigma Planning Corp acquired a new stake in Toast, Inc. (NYSE:TOST - Free Report) in the 1st quarter, according to the company in its most recent disclosure with the SEC. The fund acquired 20,912 shares of the company's stock, valued at approximately $694,000.

Other institutional investors and hedge funds have also modified their holdings of the company. Arrowstreet Capital Limited Partnership bought a new stake in Toast in the fourth quarter valued at about $282,010,000. Norges Bank bought a new position in shares of Toast in the fourth quarter valued at approximately $205,888,000. Principal Financial Group Inc. lifted its holdings in Toast by 14,258.8% during the 1st quarter. Principal Financial Group Inc. now owns 5,474,443 shares of the company's stock worth $181,587,000 after buying an additional 5,436,317 shares in the last quarter. FMR LLC lifted its holdings in 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 buying an additional 5,403,896 shares in the last quarter. Finally, Vanguard Group Inc. lifted its holdings in Toast by 10.8% during the 4th 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. Institutional investors and hedge funds own 82.91% of the company's stock.

Insider Transactions at Toast

In other news, General Counsel Brian R. Elworthy sold 300,000 shares of the stock in a transaction that occurred on Monday, June 2nd. The stock was sold at an average price of $42.60, for a total transaction of $12,780,000.00. Following the completion of the transaction, the general counsel directly owned 216,156 shares in the company, valued at approximately $9,208,245.60. This represents a 58.12% decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, CFO Elena Gomez sold 34,170 shares of the stock in a transaction on Wednesday, July 2nd. The stock was sold at an average price of $42.56, for a total value of $1,454,275.20. Following the completion of the sale, the chief financial officer directly owned 139,357 shares in the company, valued at $5,931,033.92. This represents a 19.69% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 466,131 shares of company stock worth $20,048,851 in the last ninety days. Company insiders own 13.32% of the company's stock.

Toast Trading Up 3.3%

Shares of NYSE TOST opened at $46.65 on Friday. The company's 50-day moving average price is $43.31 and its 200 day moving average price is $38.82. Toast, Inc. has a 52 week low of $22.10 and a 52 week high of $47.46. The stock has a market cap of $23.23 billion, a price-to-earnings ratio of 202.80 and a beta of 2.00.

Wall Street Analyst Weigh In

A number of analysts recently commented on TOST shares. DA Davidson lowered their price objective on shares of Toast from $42.00 to $40.00 and set a "neutral" rating for the company in a research report on Wednesday, April 30th. Wolfe Research upgraded 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. Barclays reiterated an "overweight" rating on shares of Toast in a research report on Wednesday. The Goldman Sachs Group lowered their price objective on shares of Toast from $43.00 to $38.00 and set a "neutral" rating for the company in a research report on Wednesday, April 2nd. Finally, BMO Capital Markets boosted their target price on shares of Toast from $44.00 to $45.00 and gave the stock an "outperform" rating in a research note on Monday, May 12th. Twelve analysts have rated the stock with a hold rating and fifteen have issued a buy rating to the stock. Based on data from MarketBeat, the stock has a consensus rating of "Moderate Buy" and an average target price of $42.29.

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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