Lisanti Capital Growth LLC Grows Stock Holdings in Toast, Inc. (NYSE:TOST)

Lisanti Capital Growth LLC raised its position in shares of Toast, Inc. (NYSE:TOST - Free Report) by 43.0% during the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 60,245 shares of the company's stock after purchasing an additional 18,125 shares during the quarter. Lisanti Capital Growth LLC's holdings in Toast were worth $1,706,000 as of its most recent SEC filing.

A number of other hedge funds have also modified their holdings of the company. West Branch Capital LLC purchased a new stake in shares of Toast during the second quarter worth about $26,000. LRI Investments LLC bought a new position in Toast in the 1st quarter worth approximately $27,000. Toth Financial Advisory Corp purchased a new stake in Toast during the 3rd quarter valued at approximately $28,000. Thurston Springer Miller Herd & Titak Inc. bought a new stake in shares of Toast during the second quarter valued at approximately $33,000. Finally, 1620 Investment Advisors Inc. purchased a new position in shares of Toast in the second quarter worth $34,000. 82.91% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

Several equities analysts recently weighed in on the stock. Mizuho raised shares of Toast from a "neutral" rating to an "outperform" rating and raised their target price for the company from $21.00 to $33.00 in a research note on Thursday, July 18th. Piper Sandler raised their price objective on Toast from $25.00 to $35.00 and gave the company a "neutral" rating in a research report on Monday. Royal Bank of Canada boosted their target price on Toast from $27.00 to $40.00 and gave the stock a "sector perform" rating in a research report on Friday. Deutsche Bank Aktiengesellschaft increased their price target on Toast from $24.00 to $30.00 and gave the company a "hold" rating in a research note on Monday, November 4th. Finally, Robert W. Baird boosted their target price on shares of Toast from $30.00 to $38.00 and gave the company a "neutral" rating in a research note on Friday. One research analyst has rated the stock with a sell rating, nine have issued a hold rating and eleven have issued a buy rating to the stock. According to MarketBeat, the stock currently has a consensus rating of "Hold" and an average price target of $32.30.

Insiders Place Their Bets

In related news, General Counsel Brian R. Elworthy sold 300,000 shares of the firm's stock in a transaction dated Friday, October 18th. The stock was sold at an average price of $30.39, for a total transaction of $9,117,000.00. Following the completion of the sale, the general counsel now directly owns 177,836 shares of the company's stock, valued at approximately $5,404,436.04. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. In other news, General Counsel Brian R. Elworthy sold 300,000 shares of the company's stock in a transaction on Friday, October 18th. The stock was sold at an average price of $30.39, for a total transaction of $9,117,000.00. Following the sale, the general counsel now owns 177,836 shares of the company's stock, valued at approximately $5,404,436.04. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, President Stephen Fredette sold 211,686 shares of Toast stock in a transaction on Tuesday, September 10th. The shares were sold at an average price of $23.57, for a total value of $4,989,439.02. Following the completion of the transaction, the president now owns 2,638,023 shares of the company's stock, valued at approximately $62,178,202.11. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders sold 1,375,651 shares of company stock worth $38,150,212. Corporate insiders own 13.32% of the company's stock.

Toast Trading Up 1.3 %

TOST traded up $0.47 on Monday, reaching $37.95. The stock had a trading volume of 15,400,428 shares, compared to its average volume of 7,254,393. The company has a market cap of $17.49 billion, a P/E ratio of -288.31 and a beta of 1.74. Toast, Inc. has a 12-month low of $13.77 and a 12-month high of $38.40. The business's 50-day moving average price is $28.19 and its two-hundred day moving average price is $26.01.

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.