74,307 Shares in Toast, Inc. (NYSE:TOST) Acquired by Xcel Wealth Management LLC

Xcel Wealth Management LLC purchased a new stake in shares of Toast, Inc. (NYSE:TOST - Free Report) in the 1st quarter, according to the company in its most recent disclosure with the SEC. The firm purchased 74,307 shares of the company's stock, valued at approximately $2,465,000.

Other hedge funds have also added to or reduced their stakes in the company. SBI Securities Co. Ltd. acquired a new stake in Toast during the 4th quarter valued at $35,000. Piscataqua Savings Bank lifted its holdings in shares of Toast by 57.1% during the first quarter. Piscataqua Savings Bank now owns 1,100 shares of the company's stock worth $36,000 after buying an additional 400 shares in the last quarter. West Branch Capital LLC lifted its holdings in shares of Toast by 862.1% during the first quarter. West Branch Capital LLC now owns 1,116 shares of the company's stock worth $37,000 after buying an additional 1,000 shares in the last quarter. Proathlete Wealth Management LLC acquired a new stake in shares of Toast during the first quarter worth $50,000. Finally, LRI Investments LLC lifted its holdings in shares of Toast by 51.6% during the fourth quarter. LRI Investments LLC now owns 1,516 shares of the company's stock worth $55,000 after buying an additional 516 shares in the last quarter. Institutional investors and hedge funds own 82.91% of the company's stock.

Analysts Set New Price Targets

A number of equities research analysts have recently weighed in on TOST shares. Truist Financial started coverage on Toast in a report on Monday, June 2nd. They set a "buy" rating and a $48.00 target price for the company. Piper Sandler lifted their target price on Toast from $35.00 to $37.00 and gave the stock a "neutral" rating in a report on Friday, May 9th. Evercore ISI started coverage on Toast in a report on Wednesday, April 9th. They set an "in-line" rating and a $29.00 target price for the company. Morgan Stanley lifted their target price on Toast from $46.00 to $50.00 and gave the stock an "overweight" rating in a report on Friday, May 9th. Finally, Wells Fargo & Company lifted their target price on Toast from $39.00 to $46.00 and gave the stock an "overweight" rating in a report on Friday, May 9th. Thirteen investment analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the company. According to MarketBeat.com, Toast presently has an average rating of "Hold" and a consensus target price of $41.21.

Toast Trading Up 2.4%

Toast stock traded up $1.04 during midday trading on Friday, reaching $43.58. The company's stock had a trading volume of 3,304,047 shares, compared to its average volume of 6,725,563. Toast, Inc. has a 52 week low of $22.10 and a 52 week high of $45.56. The business has a 50-day moving average price of $41.73 and a 200-day moving average price of $38.37. The stock has a market cap of $21.70 billion, a PE ratio of 189.48 and a beta of 2.00.

Insider Transactions at Toast

In other Toast news, Director Susan Chapman-Hughes sold 7,500 shares of Toast stock in a transaction dated Friday, June 6th. The stock was sold at an average price of $44.00, for a total value of $330,000.00. Following the transaction, the director owned 23,030 shares in the company, valued at $1,013,320. The trade was a 24.57% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, General Counsel Brian R. Elworthy sold 300,000 shares of the business's stock in a transaction dated Monday, June 2nd. The stock was sold at an average price of $42.60, for a total value of $12,780,000.00. Following the sale, the general counsel owned 216,156 shares in the company, valued at approximately $9,208,245.60. This trade represents a 58.12% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 468,212 shares of company stock valued at $19,551,906. Company insiders own 13.32% of the company's stock.

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.