XTX Topco Ltd Makes New Investment in Toast, Inc. (NYSE:TOST)

Key Points

• XTX Topco Ltd acquired a new stake in Toast, Inc., purchasing 68,238 shares valued at approximately $2.26 million in the first quarter of the year.
• Institutional ownership of Toast, Inc. is significant, with hedge funds and other institutional investors owning 82.91% of the company's stock.
• Toast, Inc.'s stock has seen a price fluctuation within the past year, reaching a low of $22.10 and a high of $49.56, currently trading at approximately $48.65.

XTX Topco Ltd bought a new stake in Toast, Inc. (NYSE:TOST - Free Report) in the 1st quarter, according to its most recent 13F filing with the SEC. The firm bought 68,238 shares of the company's stock, valued at approximately $2,263,000.

Several other large investors also recently made changes to their positions in TOST. SBI Securities Co. Ltd. boosted its stake in Toast by 29.2% during 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. Stonekeep Investments LLC boosted its stake in Toast by 4.0% during the 1st quarter. Stonekeep Investments LLC now owns 7,791 shares of the company's stock valued at $258,000 after purchasing an additional 297 shares during the last quarter. Keel Point LLC boosted its stake in Toast by 2.7% during the 4th quarter. Keel Point LLC now owns 12,269 shares of the company's stock valued at $447,000 after purchasing an additional 326 shares during the last quarter. Piscataqua Savings Bank boosted its stake in Toast by 57.1% during the 1st quarter. Piscataqua Savings Bank now owns 1,100 shares of the company's stock valued at $36,000 after purchasing an additional 400 shares during the last quarter. Finally, Legacy Advisors LLC boosted its stake in Toast by 1.7% during the 1st quarter. Legacy Advisors LLC now owns 26,318 shares of the company's stock valued at $873,000 after purchasing an additional 438 shares during the last quarter. 82.91% of the stock is currently owned by institutional investors and hedge funds.

Toast Stock Down 4.3%

NYSE:TOST traded down $2.10 during midday trading on Friday, hitting $46.74. The company had a trading volume of 8,977,786 shares, compared to its average volume of 7,948,295. Toast, Inc. has a 52-week low of $22.10 and a 52-week high of $49.56. The stock's fifty day moving average price is $44.28 and its 200-day moving average price is $39.67. The company has a market capitalization of $23.28 billion, a PE ratio of 203.22 and a beta of 2.01.

Analyst Ratings Changes

A number of research firms have issued reports on TOST. Morgan Stanley lifted their price target on Toast from $46.00 to $50.00 and gave the company an "overweight" rating in a research note on Friday, May 9th. Barclays reissued an "overweight" rating on shares of Toast in a research report on Wednesday, July 16th. Wells Fargo & Company initiated coverage on shares of Toast in a research report on Wednesday, July 16th. They set a "buy" rating on the stock. Wall Street Zen cut shares of Toast from a "buy" rating to a "hold" rating in a research report on Saturday, July 5th. Finally, 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. Twelve analysts have rated the stock with a hold rating and fifteen have issued a buy rating to the company's stock. Based on data from MarketBeat.com, the company has a consensus rating of "Moderate Buy" and an average price target of $43.42.

Insider Buying and Selling

In other Toast news, CEO Aman Narang sold 13,829 shares of the business's stock in a transaction on Wednesday, July 2nd. The shares were sold at an average price of $42.59, for a total value of $588,977.11. Following the completion of the sale, the chief executive officer directly owned 302,498 shares of the company's stock, valued at $12,883,389.82. The trade was a 4.37% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, Director Paul D. Bell sold 11,000 shares of the business's stock in a transaction on Thursday, May 15th. The stock was sold at an average price of $45.13, for a total transaction of $496,430.00. Following the completion of the sale, the director directly owned 229,680 shares of the company's stock, valued at $10,365,458.40. This represents a 4.57% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 466,131 shares of company stock valued at $20,048,851 in the last three months. 13.32% of the stock is 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.