D.A. Davidson & CO. Grows Holdings in Toast, Inc. (NYSE:TOST)

D.A. Davidson & CO. raised its position in Toast, Inc. (NYSE:TOST) by 12.3% during the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 37,711 shares of the company’s stock after purchasing an additional 4,118 shares during the period. D.A. Davidson & CO.’s holdings in Toast were worth $1,251,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in TOST. SBI Securities Co. Ltd. purchased a new position in Toast in the 4th quarter valued at about $35,000. Piscataqua Savings Bank lifted its holdings in Toast by 57.1% in the 1st quarter. Piscataqua Savings Bank now owns 1,100 shares of the company’s stock valued at $36,000 after purchasing an additional 400 shares in the last quarter. West Branch Capital LLC lifted its holdings in Toast by 862.1% in the 1st quarter. West Branch Capital LLC now owns 1,116 shares of the company’s stock valued at $37,000 after purchasing an additional 1,000 shares in the last quarter. Proathlete Wealth Management LLC purchased a new position in Toast in the 1st quarter valued at about $50,000. Finally, LRI Investments LLC lifted its holdings in Toast by 51.6% in the 4th quarter. LRI Investments LLC now owns 1,516 shares of the company’s stock valued at $55,000 after purchasing an additional 516 shares in the last quarter. 82.91% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

TOST has been the subject of a number of research analyst reports. Evercore ISI initiated coverage on shares of Toast in a research note on Wednesday, April 9th. They set an “in-line” rating and a $29.00 price objective for the company. Wells Fargo & Company upped their price objective on shares of Toast from $39.00 to $46.00 and gave the company an “overweight” rating in a research note on Friday, May 9th. Piper Sandler upped their price objective on shares of Toast from $35.00 to $37.00 and gave the company a “neutral” rating in a research note on Friday, May 9th. Wall Street Zen downgraded shares of Toast from a “buy” rating to a “hold” rating in a research note on Saturday. Finally, Truist Financial initiated coverage on shares of Toast in a research note on Monday, June 2nd. They set a “buy” rating and a $48.00 price objective for the company. Thirteen research analysts have rated the stock with a hold rating and twelve have given a buy rating to the company’s stock. According to MarketBeat.com, Toast currently has a consensus rating of “Hold” and an average target price of $41.21.

Toast Trading Down 2.9%

Toast stock opened at $43.53 on Wednesday. The stock has a market cap of $21.68 billion, a P/E ratio of 189.26 and a beta of 2.00. The stock has a 50 day moving average of $42.06 and a 200-day moving average of $38.49. Toast, Inc. has a 52 week low of $22.10 and a 52 week high of $46.57.

Insider Transactions at Toast

In other Toast news, CEO Aman Narang sold 13,829 shares of Toast stock in a transaction on Wednesday, July 2nd. The shares were sold at an average price of $42.59, for a total value of $588,977.11. Following the completion of the transaction, the chief executive officer owned 302,498 shares of the company’s stock, valued at $12,883,389.82. The trade was a 4.37% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this link. Also, CFO Elena Gomez sold 34,170 shares of Toast stock in a transaction 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 completion of the transaction, the chief financial officer directly owned 139,357 shares of the company’s stock, valued at approximately $5,931,033.92. This represents a 19.69% decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 536,131 shares of company stock valued at $22,443,551 over the last quarter. Insiders own 13.32% of the company’s stock.

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.