Atom Investors LP Acquires New Shares in Toast, Inc. (NYSE:TOST)

Atom Investors LP purchased a new position in shares of Toast, Inc. (NYSE:TOST - Free Report) during the 3rd quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor purchased 39,342 shares of the company's stock, valued at approximately $1,114,000.

A number of other hedge funds have also recently bought and sold shares of TOST. D.A. Davidson & CO. increased its position in Toast by 1.9% during the 3rd quarter. D.A. Davidson & CO. now owns 22,100 shares of the company's stock valued at $626,000 after purchasing an additional 409 shares during the period. Northwestern Mutual Wealth Management Co. raised its holdings in Toast by 1.2% in the second quarter. Northwestern Mutual Wealth Management Co. now owns 35,968 shares of the company's stock worth $927,000 after purchasing an additional 421 shares in the last quarter. Private Advisor Group LLC boosted its position in Toast by 1.6% in the third quarter. Private Advisor Group LLC now owns 28,151 shares of the company's stock worth $797,000 after purchasing an additional 441 shares during the last quarter. CIBC Asset Management Inc raised its stake in Toast by 3.7% during the 3rd quarter. CIBC Asset Management Inc now owns 12,614 shares of the company's stock valued at $357,000 after purchasing an additional 448 shares during the period. Finally, Farther Finance Advisors LLC boosted its holdings in shares of 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 period. 82.91% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

Several research firms have recently commented on TOST. Needham & Company LLC restated a "buy" rating and set a $30.00 price target on shares of Toast in a research report on Wednesday, August 7th. The Goldman Sachs Group restated a "neutral" rating and set a $45.00 target price (up from $34.00) on shares of Toast in a research note on Monday. Compass Point initiated coverage on Toast in a report on Wednesday, November 20th. They set a "buy" rating and a $49.00 price target on the stock. DA Davidson boosted their price target on shares of Toast from $35.00 to $44.00 and gave the company a "buy" rating in a report on Tuesday, November 12th. Finally, Wells Fargo & Company upped their target price on shares of Toast from $23.00 to $25.00 and gave the company an "underweight" rating in a research note on Friday, November 8th. One investment analyst has rated the stock with a sell rating, eleven have given a hold rating and ten have given a buy rating to the company. Based on data from MarketBeat.com, the stock has a consensus rating of "Hold" and an average price target of $34.43.

Toast Trading Down 10.1 %

Shares of NYSE:TOST traded down $4.28 during midday trading on Wednesday, hitting $38.14. 21,284,057 shares of the stock were exchanged, compared to its average volume of 7,444,086. The stock has a market cap of $17.96 billion, a P/E ratio of -293.38, a PEG ratio of 53.99 and a beta of 1.93. Toast, Inc. has a twelve month low of $14.45 and a twelve month high of $44.12. The company has a 50 day moving average price of $33.89 and a 200-day moving average price of $28.06.

Insider Activity at Toast

In other Toast news, CFO Elena Gomez sold 12,500 shares of the company's stock in a transaction dated Tuesday, October 1st. The shares were sold at an average price of $28.41, for a total transaction of $355,125.00. Following the transaction, the chief financial officer now owns 207,518 shares in the company, valued at approximately $5,895,586.38. This represents a 5.68 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, President Stephen Fredette sold 211,686 shares of the firm's stock in a transaction on Tuesday, September 10th. The stock was sold at an average price of $23.57, for a total value of $4,989,439.02. Following the completion of the sale, the president now owns 2,638,023 shares of the company's stock, valued at approximately $62,178,202.11. This represents a 7.43 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 1,688,321 shares of company stock worth $52,160,120 over the last three months. Company insiders own 13.32% of the company's stock.

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.