Oppenheimer Asset Management Inc. Sells 2,273 Shares of Toast, Inc. (NYSE:TOST)

Oppenheimer Asset Management Inc. decreased its position in Toast, Inc. (NYSE:TOST) by 2.7% in the third quarter, according to its most recent Form 13F filing with the SEC. The firm owned 82,646 shares of the company’s stock after selling 2,273 shares during the period. Oppenheimer Asset Management Inc.’s holdings in Toast were worth $2,340,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently bought and sold shares of the company. West Branch Capital LLC purchased a new position in Toast during the 2nd quarter valued at about $26,000. LRI Investments LLC bought a new position in shares of Toast during the first quarter valued at approximately $27,000. Toth Financial Advisory Corp purchased a new position in Toast during the third quarter valued at approximately $28,000. Thurston Springer Miller Herd & Titak Inc. bought a new position in Toast in the second quarter worth approximately $33,000. Finally, 1620 Investment Advisors Inc. purchased a new stake in Toast during the second quarter worth $34,000. Institutional investors own 82.91% of the company’s stock.

Insider Buying and Selling

In other Toast news, Director Christopher P. Comparato sold 100,000 shares of the company’s stock in a transaction on Tuesday, August 20th. The shares were sold at an average price of $24.35, for a total value of $2,435,000.00. Following the sale, the director now directly owns 120,107 shares of the company’s stock, valued at approximately $2,924,605.45. This represents a 45.43 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, CEO Aman Narang sold 10,106 shares of the stock in a transaction dated Wednesday, October 2nd. The stock was sold at an average price of $27.77, for a total value of $280,643.62. Following the sale, the chief executive officer now directly owns 968,095 shares in the company, valued at $26,883,998.15. This represents a 1.03 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders have sold 1,575,651 shares of company stock worth $45,472,212. 13.32% of the stock is owned by company insiders.

Analyst Upgrades and Downgrades

A number of research analysts have recently issued reports on the company. Piper Sandler lifted their price target on Toast from $25.00 to $35.00 and gave the company a “neutral” rating in a report on Monday, November 11th. Needham & Company LLC reiterated a “buy” rating and issued a $30.00 target price on shares of Toast in a report on Wednesday, August 7th. Morgan Stanley increased their price target on shares of Toast from $30.00 to $33.00 and gave the company an “overweight” rating in a research report on Tuesday, October 22nd. The Goldman Sachs Group lifted their price objective on shares of Toast from $29.00 to $33.00 and gave the stock a “buy” rating in a research report on Monday, October 14th. Finally, Robert W. Baird increased their target price on shares of Toast from $30.00 to $38.00 and gave the company a “neutral” rating in a research report on Friday, November 8th. One analyst has rated the stock with a sell rating, nine have issued a hold rating and eleven have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the company presently has an average rating of “Hold” and an average target price of $32.75.

Toast Stock Up 0.6 %

Shares of NYSE:TOST opened at $40.60 on Friday. Toast, Inc. has a 52-week low of $13.77 and a 52-week high of $41.05. The stock has a market cap of $19.12 billion, a price-to-earnings ratio of -312.31 and a beta of 1.74. The business has a 50-day moving average price of $29.75 and a 200-day moving average price of $26.55.

Toast 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.