Procyon Advisors LLC Invests $242,000 in Toast, Inc. (NYSE:TOST)

Procyon Advisors LLC bought a new position in Toast, Inc. (NYSE:TOST - Free Report) in the first quarter, according to the company in its most recent Form 13F filing with the SEC. The firm bought 7,287 shares of the company's stock, valued at approximately $242,000.

Other hedge funds have also recently modified their holdings of the company. Blue Trust Inc. boosted its holdings in Toast by 120.4% in the fourth quarter. Blue Trust Inc. now owns 692 shares of the company's stock worth $25,000 after purchasing an additional 378 shares during the last quarter. Stonebridge Financial Group LLC purchased a new position in shares of Toast in the 4th quarter worth $34,000. SBI Securities Co. Ltd. purchased a new position in shares of Toast in the 4th quarter worth $35,000. Wingate Wealth Advisors Inc. bought a new stake in shares of Toast in the fourth quarter worth $40,000. Finally, Newbridge Financial Services Group Inc. purchased a new stake in Toast during the fourth quarter valued at $42,000. Hedge funds and other institutional investors own 82.91% of the company's stock.

Insider Activity

In other Toast news, Director Deval L. Patrick sold 34,222 shares of the company's stock in a transaction dated Thursday, March 13th. The shares were sold at an average price of $33.01, for a total value of $1,129,668.22. Following the transaction, the director now directly owns 13,260 shares in the company, valued at $437,712.60. This represents a 72.07% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, General Counsel Brian R. Elworthy sold 300,000 shares of the business's stock in a transaction that occurred on Monday, June 2nd. The shares were sold at an average price of $42.60, for a total value of $12,780,000.00. Following the completion of the sale, the general counsel now owns 216,156 shares of the company's stock, valued at $9,208,245.60. The trade was a 58.12% decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders have sold 646,651 shares of company stock worth $25,640,334. 13.32% of the stock is currently owned by corporate insiders.

Toast Stock Performance

NYSE:TOST traded down $0.08 during trading hours on Tuesday, reaching $43.37. The stock had a trading volume of 4,603,747 shares, compared to its average volume of 7,050,249. The company has a 50 day moving average price of $38.12 and a two-hundred day moving average price of $37.99. Toast, Inc. has a 52 week low of $21.32 and a 52 week high of $45.56. The stock has a market capitalization of $21.60 billion, a PE ratio of -4,332.57, a PEG ratio of 2.16 and a beta of 2.02.

Analysts Set New Price Targets

A number of equities research analysts have issued reports on TOST shares. JPMorgan Chase & Co. boosted their price target on Toast from $36.00 to $42.00 and gave the company a "neutral" rating in a research note on Thursday, February 20th. Needham & Company LLC restated a "buy" rating and set a $50.00 target price on shares of Toast in a research report on Thursday, February 20th. Evercore ISI initiated coverage on shares of Toast in a research report on Wednesday, April 9th. They issued an "in-line" rating and a $29.00 price target on the stock. Royal Bank of Canada lifted their price target on shares of Toast from $40.00 to $45.00 and gave the stock a "sector perform" rating in a research note on Thursday, February 20th. Finally, DA Davidson reduced their price objective on Toast from $42.00 to $40.00 and set a "neutral" rating for the company in a research note on Wednesday, April 30th. Twelve analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the company. According to MarketBeat, Toast has a consensus rating of "Moderate Buy" and an average target price of $41.21.

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.