Oppenheimer & Co. Inc. Makes New $397,000 Investment in Toast, Inc. (NYSE:TOST)

Oppenheimer & Co. Inc. purchased a new stake in shares of Toast, Inc. (NYSE:TOST - Free Report) during the third quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor purchased 14,030 shares of the company's stock, valued at approximately $397,000.

A number of other hedge funds and other institutional investors have also recently modified their holdings of TOST. Whale Rock Capital Management LLC purchased a new stake in Toast during the first quarter valued at $179,111,000. Assenagon Asset Management S.A. increased its position in Toast by 2,889.8% during the third quarter. Assenagon Asset Management S.A. now owns 3,829,995 shares of the company's stock valued at $108,427,000 after acquiring an additional 3,701,893 shares during the last quarter. Price T Rowe Associates Inc. MD increased its position in Toast by 21.4% during the first quarter. Price T Rowe Associates Inc. MD now owns 19,524,700 shares of the company's stock valued at $486,557,000 after acquiring an additional 3,445,788 shares during the last quarter. Marshall Wace LLP increased its position in Toast by 175.8% during the second quarter. Marshall Wace LLP now owns 2,517,288 shares of the company's stock valued at $64,871,000 after acquiring an additional 1,604,716 shares during the last quarter. Finally, XN LP increased its position in Toast by 40.9% during the first quarter. XN LP now owns 5,055,225 shares of the company's stock valued at $125,976,000 after acquiring an additional 1,467,339 shares during the last quarter. 82.91% of the stock is owned by institutional investors.

Toast Stock Performance

TOST traded up $0.52 during trading on Friday, hitting $42.88. 7,137,531 shares of the stock were exchanged, compared to its average volume of 7,380,164. Toast, Inc. has a 1 year low of $13.92 and a 1 year high of $43.29. The firm has a 50 day simple moving average of $31.12 and a 200 day simple moving average of $27.05. The firm has a market cap of $20.20 billion, a price-to-earnings ratio of -325.85, a P/E/G ratio of 54.16 and a beta of 1.74.

Wall Street Analyst Weigh In

A number of analysts have commented on TOST shares. Wedbush upped their price target on Toast from $35.00 to $45.00 and gave the stock an "outperform" rating in a research report on Friday, November 8th. BNP Paribas cut Toast from an "outperform" rating to a "neutral" rating and set a $37.00 price target for the company. in a research report on Wednesday. Stephens upped their price target on Toast from $28.00 to $30.00 and gave the stock an "equal weight" rating in a research report on Friday, October 18th. Deutsche Bank Aktiengesellschaft upped their price target on Toast from $24.00 to $30.00 and gave the stock a "hold" rating in a research report on Monday, November 4th. Finally, Wells Fargo & Company upped their price target on Toast from $23.00 to $25.00 and gave the stock an "underweight" rating in a research report on Friday, November 8th. One investment analyst has rated the stock with a sell rating, ten have given a hold rating and eleven have assigned a buy rating to the company. Based on data from MarketBeat.com, the stock presently has a consensus rating of "Hold" and an average price target of $33.86.

Insider Activity

In other news, Director Richard Kent Bennett sold 100,000 shares of the firm's stock in a transaction on Tuesday, November 12th. The stock was sold at an average price of $36.67, for a total value of $3,667,000.00. Following the completion of the sale, the director now owns 418,591 shares of the company's stock, valued at $15,349,731.97. This trade represents a 19.28 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available 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 directly owns 2,638,023 shares of the company's stock, valued at $62,178,202.11. The trade was a 7.43 % decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders have sold 1,475,651 shares of company stock worth $43,037,212. 13.32% of the stock is currently owned by company insiders.

About Toast

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.