Y Intercept Hong Kong Ltd Acquires New Shares in Toast, Inc. (NYSE:TOST)

Y Intercept Hong Kong Ltd bought a new position in shares of Toast, Inc. (NYSE:TOST - Free Report) in the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor bought 115,978 shares of the company's stock, valued at approximately $3,283,000.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in TOST. West Branch Capital LLC bought a new stake in Toast during the 2nd quarter valued at approximately $26,000. Toth Financial Advisory Corp acquired a new position in Toast during the 3rd quarter valued at $28,000. 1620 Investment Advisors Inc. bought a new stake in Toast in the 2nd quarter valued at $34,000. Raleigh Capital Management Inc. grew its position 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 during the last quarter. Finally, Farther Finance Advisors LLC grew its position in Toast by 32.3% in the 3rd quarter. Farther Finance Advisors LLC now owns 2,033 shares of the company's stock worth $58,000 after purchasing an additional 496 shares during the last quarter. Institutional investors and hedge funds own 82.91% of the company's stock.

Wall Street Analyst Weigh In

Several equities research analysts recently weighed in on TOST shares. Bank of America increased their target price on shares of Toast from $26.00 to $28.00 and gave the company a "neutral" rating in a research note on Tuesday, September 17th. Wells Fargo & Company raised their target price on Toast from $23.00 to $25.00 and gave the stock an "underweight" rating in a research report on Friday, November 8th. Morgan Stanley raised their price objective on shares of Toast from $30.00 to $33.00 and gave the stock an "overweight" rating in a report on Tuesday, October 22nd. Keefe, Bruyette & Woods lifted their price objective on Toast from $29.00 to $40.00 and gave the company a "market perform" rating in a report on Monday. Finally, Compass Point assumed coverage on Toast in a research note on Wednesday, November 20th. They issued a "buy" rating and a $49.00 price objective on the stock. One equities research analyst has rated the stock with a sell rating, twelve have assigned a hold rating and nine have assigned a buy rating to the stock. Based on data from MarketBeat.com, the stock presently has an average rating of "Hold" and a consensus price target of $34.81.

Toast Stock Down 0.1 %

Shares of TOST traded down $0.02 during trading hours on Tuesday, hitting $38.28. The company had a trading volume of 5,827,254 shares, compared to its average volume of 7,431,043. The business has a fifty day moving average of $34.72 and a 200-day moving average of $28.41. The firm has a market cap of $18.03 billion, a price-to-earnings ratio of -294.46, a PEG ratio of 23.81 and a beta of 1.92. Toast, Inc. has a 12 month low of $15.14 and a 12 month high of $44.12.

Insider Activity

In other Toast news, Director David Yuan sold 189,785 shares of the firm's stock in a transaction on Monday, November 25th. The stock was sold at an average price of $43.01, for a total transaction of $8,162,652.85. Following the transaction, the director now owns 198,829 shares in the company, valued at $8,551,635.29. This trade represents a 48.84 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, President Stephen Fredette sold 101,574 shares of the firm's stock in a transaction on Thursday, September 12th. The stock was sold at an average price of $25.73, for a total value of $2,613,499.02. Following the completion of the transaction, the president now owns 2,395,685 shares in the company, valued at $61,640,975.05. The trade was a 4.07 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 1,476,635 shares of company stock valued at $47,170,681. 13.32% of the stock is owned by 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.