PDT Partners LLC Purchases 75,561 Shares of Toast, Inc. (NYSE:TOST)

PDT Partners LLC increased its stake in shares of Toast, Inc. (NYSE:TOST - Free Report) by 529.1% in the 3rd quarter, according to its most recent 13F filing with the SEC. The firm owned 89,842 shares of the company's stock after buying an additional 75,561 shares during the period. PDT Partners LLC's holdings in Toast were worth $2,543,000 as of its most recent filing with the SEC.

Other hedge funds and other institutional investors have also modified their holdings of the company. D.A. Davidson & CO. boosted its holdings in Toast by 1.9% in 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. lifted its holdings in shares of Toast by 1.2% during the 2nd quarter. Northwestern Mutual Wealth Management Co. now owns 35,968 shares of the company's stock worth $927,000 after acquiring an additional 421 shares during the period. Private Advisor Group LLC lifted its holdings in shares of Toast by 1.6% during the 3rd quarter. Private Advisor Group LLC now owns 28,151 shares of the company's stock worth $797,000 after acquiring an additional 441 shares during the period. CIBC Asset Management Inc lifted its holdings in shares of Toast by 3.7% during the 3rd quarter. CIBC Asset Management Inc now owns 12,614 shares of the company's stock worth $357,000 after acquiring an additional 448 shares during the period. Finally, Farther Finance Advisors LLC lifted its holdings in shares of Toast by 32.3% during the 3rd quarter. Farther Finance Advisors LLC now owns 2,033 shares of the company's stock worth $58,000 after acquiring an additional 496 shares during the period. Institutional investors own 82.91% of the company's stock.

Analysts Set New Price Targets

A number of analysts have recently weighed in on the stock. Piper Sandler upped their price target on shares of Toast from $25.00 to $35.00 and gave the stock a "neutral" rating in a report on Monday, November 11th. Robert W. Baird upped their price objective on shares of Toast from $30.00 to $38.00 and gave the stock a "neutral" rating in a research report on Friday, November 8th. BNP Paribas cut shares of Toast from an "outperform" rating to a "neutral" rating and set a $37.00 price objective for the company. in a research report on Wednesday, November 20th. Needham & Company LLC reiterated a "buy" rating and set a $30.00 price objective on shares of Toast in a research report on Wednesday, August 7th. Finally, Compass Point assumed coverage on shares of Toast in a research report on Wednesday, November 20th. They set a "buy" rating and a $49.00 price objective for the company. One analyst has rated the stock with a sell rating, ten have issued a hold rating and eleven have issued a buy rating to the stock. According to MarketBeat.com, the stock presently has an average rating of "Hold" and a consensus price target of $33.86.

Insider Activity

In other news, President Stephen Fredette sold 211,686 shares of the company's stock in a transaction dated Tuesday, September 10th. The shares were sold at an average price of $23.57, for a total transaction 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 $62,178,202.11. This represents a 7.43 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, Director David Yuan sold 189,785 shares of the company's stock in a transaction dated 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 directly owns 198,829 shares of the company's stock, valued at $8,551,635.29. The trade was a 48.84 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 1,688,321 shares of company stock worth $52,160,120. Corporate insiders own 13.32% of the company's stock.

Toast Price Performance

Toast stock traded up $0.36 during mid-day trading on Friday, reaching $43.54. 2,298,247 shares of the company traded hands, compared to its average volume of 10,608,708. The firm's 50 day moving average price is $33.09 and its 200 day moving average price is $27.77. The firm has a market capitalization of $20.51 billion, a price-to-earnings ratio of -334.92, a P/E/G ratio of 55.49 and a beta of 1.74. Toast, Inc. has a 52-week low of $14.45 and a 52-week high of $44.12.

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.