Sigma Planning Corp Purchases Shares of 20,912 Toast, Inc. (NYSE:TOST)

Sigma Planning Corp purchased a new stake in shares of Toast, Inc. (NYSE:TOST) during the 1st quarter, Holdings Channel reports. The fund purchased 20,912 shares of the company’s stock, valued at approximately $694,000.

Several other hedge funds have also recently added to or reduced their stakes in TOST. Arrowstreet Capital Limited Partnership acquired a new stake in Toast in the 4th quarter valued at approximately $282,010,000. Norges Bank acquired a new position in Toast in the 4th quarter valued at $205,888,000. Principal Financial Group Inc. raised its holdings in shares of Toast by 14,258.8% during the 1st quarter. Principal Financial Group Inc. now owns 5,474,443 shares of the company’s stock worth $181,587,000 after buying an additional 5,436,317 shares in the last quarter. FMR LLC increased its holdings in Toast by 22.1% in the 4th quarter. FMR LLC now owns 29,853,639 shares of the company’s stock worth $1,088,165,000 after purchasing an additional 5,403,896 shares in the last quarter. Finally, Vanguard Group Inc. grew its position in shares of Toast by 10.8% in the 4th quarter. Vanguard Group Inc. now owns 42,474,232 shares of the company’s stock valued at $1,548,186,000 after buying an additional 4,147,430 shares during the last quarter. Institutional investors and hedge funds own 82.91% of the company’s stock.

Toast Trading Up 3.3%

Shares of NYSE TOST opened at $46.65 on Friday. The company has a 50-day moving average of $43.31 and a 200 day moving average of $38.82. Toast, Inc. has a 12-month low of $22.10 and a 12-month high of $47.46. The stock has a market cap of $23.23 billion, a PE ratio of 202.80 and a beta of 2.00.

Analyst Upgrades and Downgrades

A number of equities analysts have recently weighed in on the company. Wall Street Zen lowered Toast from a “buy” rating to a “hold” rating in a research report on Saturday, July 5th. Piper Sandler lifted their price objective on Toast from $35.00 to $37.00 and gave the company a “neutral” rating in a research note on Friday, May 9th. Wells Fargo & Company began coverage on Toast in a research note on Wednesday. They issued a “buy” rating for the company. Barclays restated an “overweight” rating on shares of Toast in a report on Wednesday. Finally, BMO Capital Markets upped their target price on Toast from $44.00 to $45.00 and gave the stock an “outperform” rating in a report on Monday, May 12th. Twelve investment analysts have rated the stock with a hold rating and fifteen have given a buy rating to the company. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $42.29.

Insiders Place Their Bets

In other Toast news, President Stephen Fredette sold 7,647 shares of the stock in a transaction that occurred on Wednesday, July 2nd. The shares were sold at an average price of $42.59, for a total transaction of $325,685.73. Following the sale, the president directly owned 889,017 shares in the company, valued at $37,863,234.03. This represents a 0.85% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, CFO Elena Gomez sold 34,170 shares of the stock in a transaction that occurred on Wednesday, July 2nd. The stock was sold at an average price of $42.56, for a total transaction of $1,454,275.20. Following the sale, the chief financial officer owned 139,357 shares in the company, valued at approximately $5,931,033.92. This trade represents a 19.69% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 466,131 shares of company stock worth $20,048,851. 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.