82,918 Shares in Toast, Inc. (NYSE:TOST) Purchased by Edgestream Partners L.P.

Edgestream Partners L.P. bought a new stake in shares of Toast, Inc. (NYSE:TOST) in the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm bought 82,918 shares of the company’s stock, valued at approximately $2,347,000.

Several other large investors have also recently made changes to their positions in TOST. West Branch Capital LLC bought a new position in Toast during the 2nd quarter valued at approximately $26,000. Toth Financial Advisory Corp purchased a new stake in shares of Toast in the third quarter worth $28,000. Thurston Springer Miller Herd & Titak Inc. bought a new position in shares of Toast during the second quarter valued at $33,000. 1620 Investment Advisors Inc. purchased a new position in shares of Toast in the 2nd quarter worth about $34,000. Finally, Raleigh Capital Management Inc. boosted its stake in Toast by 93.4% in the 3rd quarter. Raleigh Capital Management Inc. now owns 1,491 shares of the company’s stock worth $42,000 after purchasing an additional 720 shares in the last quarter. 82.91% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several research analysts have issued reports on the stock. Needham & Company LLC reaffirmed a “buy” rating and issued a $30.00 target price on shares of Toast in a report on Wednesday, August 7th. Royal Bank of Canada boosted their price objective on shares of Toast from $27.00 to $40.00 and gave the stock a “sector perform” rating in a report on Friday, November 8th. Wedbush increased their target price on Toast from $35.00 to $45.00 and gave the company an “outperform” rating in a research note on Friday, November 8th. Piper Sandler boosted their price target on Toast from $25.00 to $35.00 and gave the stock a “neutral” rating in a research note on Monday, November 11th. Finally, Morgan Stanley increased their price objective on Toast from $30.00 to $33.00 and gave the company an “overweight” rating in a research report on Tuesday, October 22nd. One research analyst has rated the stock with a sell rating, eleven have assigned a hold rating and ten have issued a buy rating to the company. According to data from MarketBeat, the stock currently has a consensus rating of “Hold” and an average price target of $34.43.

Insiders Place Their Bets

In other Toast news, General Counsel Brian R. Elworthy sold 300,000 shares of the company’s stock in a transaction that occurred on Friday, October 18th. The stock was 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 directly owns 177,836 shares in the company, valued at $5,404,436.04. This represents a 62.78 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, Director David Yuan sold 189,785 shares of Toast stock in a transaction that occurred on Monday, November 25th. The shares were sold at an average price of $43.01, for a total transaction of $8,162,652.85. Following the sale, the director now owns 198,829 shares in the company, valued at approximately $8,551,635.29. The trade was a 48.84 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 1,688,321 shares of company stock worth $52,160,120 over the last three months. 13.32% of the stock is currently owned by company insiders.

Toast Trading Down 2.7 %

Shares of NYSE:TOST opened at $42.36 on Tuesday. Toast, Inc. has a 12-month low of $14.45 and a 12-month high of $44.12. The company has a market cap of $19.95 billion, a PE ratio of -325.85, a price-to-earnings-growth ratio of 55.49 and a beta of 1.74. The stock has a 50 day moving average of $33.38 and a 200 day moving average of $27.88.

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.