Elo Mutual Pension Insurance Co raised its stake in Toast, Inc. (NYSE:TOST – Free Report) by 5.2% during the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 19,683 shares of the company’s stock after buying an additional 974 shares during the quarter. Elo Mutual Pension Insurance Co’s holdings in Toast were worth $349,000 as of its most recent filing with the Securities and Exchange Commission.
Several other institutional investors also recently modified their holdings of TOST. Whittier Trust Co. increased its stake in Toast by 365.0% in the first quarter. Whittier Trust Co. now owns 1,660 shares of the company’s stock valued at $29,000 after purchasing an additional 1,303 shares in the last quarter. PNC Financial Services Group Inc. increased its position in shares of Toast by 277.5% in the 4th quarter. PNC Financial Services Group Inc. now owns 1,710 shares of the company’s stock valued at $31,000 after buying an additional 1,257 shares in the last quarter. Spire Wealth Management raised its stake in Toast by 2,196.0% during the 1st quarter. Spire Wealth Management now owns 2,296 shares of the company’s stock worth $41,000 after buying an additional 2,196 shares during the period. CWM LLC lifted its holdings in Toast by 95.1% during the first quarter. CWM LLC now owns 2,641 shares of the company’s stock worth $47,000 after acquiring an additional 1,287 shares in the last quarter. Finally, Seeyond acquired a new position in Toast in the fourth quarter valued at about $56,000. 60.29% of the stock is currently owned by institutional investors and hedge funds.
Toast Stock Performance
Toast stock opened at $21.98 on Tuesday. Toast, Inc. has a fifty-two week low of $15.77 and a fifty-two week high of $27.00. The company’s 50-day moving average is $22.44 and its 200-day moving average is $20.33.
Insider Buying and Selling at Toast
In other news, COO Aman Narang sold 2,356 shares of the stock in a transaction dated Wednesday, July 5th. The shares were sold at an average price of $22.20, for a total value of $52,303.20. Following the transaction, the chief operating officer now directly owns 1,619,169 shares of the company’s stock, valued at $35,945,551.80. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. In related news, insider Stephen Fredette sold 257,733 shares of Toast stock in a transaction that occurred on Thursday, June 15th. The stock was sold at an average price of $22.62, for a total transaction of $5,829,920.46. Following the completion of the sale, the insider now directly owns 2,968,655 shares of the company’s stock, valued at approximately $67,150,976.10. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, COO Aman Narang sold 2,356 shares of the company’s stock in a transaction on Wednesday, July 5th. The shares were sold at an average price of $22.20, for a total value of $52,303.20. Following the completion of the transaction, the chief operating officer now directly owns 1,619,169 shares in the company, valued at $35,945,551.80. The disclosure for this sale can be found here. Insiders sold 853,584 shares of company stock valued at $20,267,415 in the last quarter. 13.70% of the stock is currently owned by insiders.
Analysts Set New Price Targets
Several research firms have recently weighed in on TOST. The Goldman Sachs Group lifted their price objective on Toast from $23.50 to $26.00 and gave the company a “neutral” rating in a report on Thursday, August 10th. Credit Suisse Group upped their price target on shares of Toast from $23.00 to $25.00 and gave the company a “neutral” rating in a report on Wednesday, August 9th. Needham & Company LLC raised their price objective on shares of Toast from $30.00 to $31.00 and gave the stock a “buy” rating in a report on Wednesday, August 9th. Stephens increased their price objective on Toast from $22.00 to $25.00 in a report on Wednesday, August 9th. Finally, Jefferies Financial Group assumed coverage on Toast in a research note on Tuesday, July 11th. They issued a “buy” rating and a $28.00 target price on the stock. Eleven analysts have rated the stock with a hold rating and ten have given a buy rating to the stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average target price of $24.78.
Toast Company Profile
Toast, Inc operates a cloud-based digital technology platform for the restaurant industry in the United States and Ireland. The company offers Toast POS, a software module that integrates payment processing with point of sale functionality; Toast Invoicing that allows restaurants to send invoices and collect payment; Toast Mobile Order & Pay, which allows guests to scan a QR code to browse the menu, order, and pay from mobile; Kitchen Display System software that connects the house with the kitchen staff; and Multi-Location Management, a tool to manage operations and configure menus across multiple locations and channels.
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