XTX Topco Ltd Increases Stock Holdings in Toast, Inc. (NYSE:TOST)

XTX Topco Ltd grew its holdings in Toast, Inc. (NYSE:TOST - Free Report) by 225.3% in the 3rd quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 32,882 shares of the company's stock after acquiring an additional 22,774 shares during the quarter. XTX Topco Ltd's holdings in Toast were worth $931,000 at the end of the most recent reporting period.

A number of other institutional investors also recently bought and sold shares of TOST. West Branch Capital LLC purchased a new position in Toast during the 2nd quarter worth approximately $26,000. Toth Financial Advisory Corp acquired a new position in shares of Toast in the 3rd quarter valued at about $28,000. 1620 Investment Advisors Inc. purchased a new position in Toast during the second quarter valued at approximately $34,000. Raleigh Capital Management Inc. boosted its position in Toast by 93.4% in the 3rd quarter. Raleigh Capital Management Inc. now owns 1,491 shares of the company's stock worth $42,000 after purchasing an additional 720 shares in the last quarter. Finally, Farther Finance Advisors LLC grew its stake 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 purchasing an additional 496 shares during the period. 82.91% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of brokerages have weighed in on TOST. BNP Paribas downgraded 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. Morgan Stanley increased their price target on Toast from $30.00 to $33.00 and gave the stock an "overweight" rating in a research report on Tuesday, October 22nd. Robert W. Baird boosted their price objective on Toast from $30.00 to $38.00 and gave the company a "neutral" rating in a research report on Friday, November 8th. Deutsche Bank Aktiengesellschaft upped their price objective on shares of Toast from $24.00 to $30.00 and gave the stock a "hold" rating in a research report on Monday, November 4th. Finally, Wedbush boosted their target price on shares of Toast from $35.00 to $45.00 and gave the stock an "outperform" rating in a research note on Friday, November 8th. One investment analyst has rated the stock with a sell rating, twelve have issued a hold rating and nine have given a buy rating to the stock. According to data from MarketBeat, the stock has an average rating of "Hold" and an average target price of $34.81.

Toast Price Performance

Shares of TOST stock traded up $0.14 during trading hours on Wednesday, hitting $38.41. The stock had a trading volume of 5,438,110 shares, compared to its average volume of 7,422,881. The stock's 50 day moving average is $34.94 and its 200 day moving average is $28.48. The firm has a market capitalization of $18.09 billion, a PE ratio of -295.46, a PEG ratio of 23.81 and a beta of 1.92. Toast, Inc. has a twelve month low of $15.15 and a twelve month high of $44.12.

Insider Buying and Selling

In related news, President Stephen Fredette sold 144,238 shares of the firm's stock in a transaction dated Friday, September 20th. The shares were sold at an average price of $27.34, for a total value of $3,943,466.92. Following the completion of the sale, the president now owns 2,160,499 shares in the company, valued at $59,068,042.66. This trade represents a 6.26 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, Director David Yuan sold 189,785 shares of the company's stock in a transaction dated Monday, November 25th. The stock was sold at an average price of $43.01, for a total transaction of $8,162,652.85. Following the transaction, the director now owns 198,829 shares in the company, valued at $8,551,635.29. The trade was a 48.84 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 1,476,635 shares of company stock valued at $47,170,681 over the last quarter. 13.32% of the stock is currently owned by 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.