Quadrature Capital Ltd lessened its stake in Toast, Inc. (NYSE:TOST - Free Report) by 27.1% in the third quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 102,261 shares of the company's stock after selling 37,982 shares during the quarter. Quadrature Capital Ltd's holdings in Toast were worth $2,895,000 at the end of the most recent reporting period.
Other large investors also recently bought and sold shares of the company. West Branch Capital LLC purchased a new stake in shares of Toast during the second quarter worth about $26,000. Toth Financial Advisory Corp purchased a new stake in Toast during the 3rd quarter worth approximately $28,000. 1620 Investment Advisors Inc. acquired a new position in shares of Toast in the 2nd quarter valued at approximately $34,000. Raleigh Capital Management Inc. raised its position in shares of Toast by 93.4% in the 3rd quarter. Raleigh Capital Management Inc. now owns 1,491 shares of the company's stock valued at $42,000 after purchasing an additional 720 shares in the last quarter. Finally, Farther Finance Advisors LLC grew its position in shares of Toast by 32.3% during the third quarter. Farther Finance Advisors LLC now owns 2,033 shares of the company's stock worth $58,000 after buying an additional 496 shares in the last quarter. Institutional investors and hedge funds own 82.91% of the company's stock.
Insider Buying and Selling at Toast
In other Toast news, Director David Yuan sold 189,785 shares of the company's stock in a transaction that occurred on Monday, November 25th. The stock was sold at an average price of $43.01, for a total value of $8,162,652.85. Following the completion of the sale, the director now directly owns 198,829 shares in the company, valued at $8,551,635.29. This represents a 48.84 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, President Stephen Fredette sold 211,686 shares of the company's stock in a transaction that occurred 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 $62,178,202.11. This trade represents a 7.43 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 1,688,321 shares of company stock valued at $52,160,120. Company insiders own 13.32% of the company's stock.
Analysts Set New Price Targets
Several analysts recently issued reports on the stock. Deutsche Bank Aktiengesellschaft upped their price target on shares of Toast from $24.00 to $30.00 and gave the company a "hold" rating in a report on Monday, November 4th. Wells Fargo & Company lifted their price target on Toast from $23.00 to $25.00 and gave the stock an "underweight" rating in a research note on Friday, November 8th. Stephens lifted their price target on Toast from $28.00 to $30.00 and gave the stock an "equal weight" rating in a research note on Friday, October 18th. Wedbush lifted their price target on Toast from $35.00 to $45.00 and gave the stock an "outperform" rating in a research note on Friday, November 8th. Finally, Bank of America lifted their price target on Toast from $26.00 to $28.00 and gave the stock a "neutral" rating in a research note on Tuesday, September 17th. One research analyst has rated the stock with a sell rating, twelve have assigned a hold rating and nine have issued a buy rating to the company's stock. Based on data from MarketBeat, the company has a consensus rating of "Hold" and an average price target of $34.14.
View Our Latest Research Report on TOST
Toast Price Performance
Shares of NYSE TOST traded up $0.77 during midday trading on Friday, reaching $38.80. 6,387,536 shares of the company traded hands, compared to its average volume of 7,446,186. The company has a market cap of $18.27 billion, a price-to-earnings ratio of -298.42, a PEG ratio of 54.06 and a beta of 1.93. The stock has a 50-day moving average price of $34.32 and a 200 day moving average price of $28.21. Toast, Inc. has a 52 week low of $14.75 and a 52 week high of $44.12.
Toast Profile
(
Free Report)
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.
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