Oppenheimer Asset Management Inc. Lowers Stock Position in Toast, Inc. (NYSE:TOST)

Oppenheimer Asset Management Inc. lessened its position in shares of Toast, Inc. (NYSE:TOST) by 2.7% during the 3rd quarter, according to the company in its most recent disclosure with the SEC. The firm owned 82,646 shares of the company’s stock after selling 2,273 shares during the quarter. Oppenheimer Asset Management Inc.’s holdings in Toast were worth $2,340,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Victory Capital Management Inc. grew its position in shares of Toast by 1.3% during the 3rd quarter. Victory Capital Management Inc. now owns 49,663 shares of the company’s stock valued at $1,406,000 after acquiring an additional 661 shares during the period. GSA Capital Partners LLP grew its holdings in Toast by 179.7% in the third quarter. GSA Capital Partners LLP now owns 53,064 shares of the company’s stock valued at $1,502,000 after purchasing an additional 34,090 shares during the period. Entropy Technologies LP acquired a new stake in Toast in the third quarter valued at approximately $894,000. Lisanti Capital Growth LLC increased its position in shares of Toast by 43.0% in the third quarter. Lisanti Capital Growth LLC now owns 60,245 shares of the company’s stock valued at $1,706,000 after buying an additional 18,125 shares in the last quarter. Finally, Kampmann Melissa S. raised its stake in shares of Toast by 28.9% during the 3rd quarter. Kampmann Melissa S. now owns 56,120 shares of the company’s stock worth $1,589,000 after buying an additional 12,590 shares during the period. Hedge funds and other institutional investors own 82.91% of the company’s stock.

Toast Stock Up 0.6 %

NYSE:TOST opened at $40.60 on Friday. Toast, Inc. has a 52 week low of $13.77 and a 52 week high of $41.05. The stock’s fifty day moving average is $29.75 and its two-hundred day moving average is $26.55. The stock has a market capitalization of $19.12 billion, a price-to-earnings ratio of -312.31 and a beta of 1.74.

Analysts Set New Price Targets

TOST has been the topic of a number of research analyst reports. JPMorgan Chase & Co. lifted their price target on shares of Toast from $28.00 to $36.00 and gave the company a “neutral” rating in a research note on Friday, November 8th. The Goldman Sachs Group boosted their target price on shares of Toast from $29.00 to $33.00 and gave the stock a “buy” rating in a research note on Monday, October 14th. Bank of America upped their price target on shares of Toast from $26.00 to $28.00 and gave the stock a “neutral” rating in a research report on Tuesday, September 17th. Piper Sandler lifted their price objective on Toast from $25.00 to $35.00 and gave the stock a “neutral” rating in a report on Monday, November 11th. Finally, Robert W. Baird increased their target price on Toast from $30.00 to $38.00 and gave the company a “neutral” rating in a report on Friday, November 8th. One research analyst has rated the stock with a sell rating, nine have assigned a hold rating and eleven have given a buy rating to the stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Hold” and an average price target of $32.75.

Insider Activity at Toast

In related news, General Counsel Brian R. Elworthy sold 300,000 shares of Toast stock in a transaction that occurred on Friday, October 18th. The shares were sold at an average price of $30.39, for a total value of $9,117,000.00. Following the completion of the transaction, the general counsel now owns 177,836 shares in the company, valued at approximately $5,404,436.04. The trade was a 62.78 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, CEO Aman Narang sold 10,106 shares of the stock in a transaction that occurred on Wednesday, October 2nd. The stock was sold at an average price of $27.77, for a total transaction of $280,643.62. Following the sale, the chief executive officer now owns 968,095 shares in the company, valued at approximately $26,883,998.15. This trade represents a 1.03 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 1,575,651 shares of company stock worth $45,472,212. 13.32% of the stock is currently 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.