Alps Advisors Inc. Takes Position in Toast, Inc. (NYSE:TOST)

Alps Advisors Inc. bought a new position in shares of Toast, Inc. (NYSE:TOST - Free Report) in the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm bought 10,320 shares of the company's stock, valued at approximately $342,000.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Wayfinding Financial LLC bought a new stake in shares of Toast in the 1st quarter valued at $34,000. Piscataqua Savings Bank lifted its holdings in Toast by 57.1% in the first quarter. Piscataqua Savings Bank now owns 1,100 shares of the company's stock valued at $36,000 after buying an additional 400 shares during the period. West Branch Capital LLC boosted its position in Toast by 862.1% during the first quarter. West Branch Capital LLC now owns 1,116 shares of the company's stock valued at $37,000 after acquiring an additional 1,000 shares during the last quarter. Proathlete Wealth Management LLC bought a new stake in Toast during the first quarter valued at $50,000. Finally, LRI Investments LLC grew its holdings in Toast by 51.6% during the 4th quarter. LRI Investments LLC now owns 1,516 shares of the company's stock worth $55,000 after acquiring an additional 516 shares during the period. 82.91% of the stock is owned by institutional investors and hedge funds.

Insiders Place Their Bets

In other news, CEO Aman Narang sold 13,829 shares of the firm's stock in a transaction that occurred on Wednesday, July 2nd. The shares were sold at an average price of $42.59, for a total transaction of $588,977.11. Following the completion of the sale, the chief executive officer owned 302,498 shares in the company, valued at $12,883,389.82. This trade represents a 4.37% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, President Stephen Fredette sold 7,647 shares of the company's stock in a transaction that occurred on Wednesday, July 2nd. The shares were sold at an average price of $42.59, for a total value of $325,685.73. Following the completion of the transaction, the president owned 889,017 shares in the company, valued at approximately $37,863,234.03. The trade was a 0.85% decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders have sold 466,131 shares of company stock valued at $20,048,851. Company insiders own 13.32% of the company's stock.

Wall Street Analysts Forecast Growth

Several equities research analysts recently commented on TOST shares. The Goldman Sachs Group cut their target price on Toast from $43.00 to $38.00 and set a "neutral" rating on the stock in a research report on Wednesday, April 2nd. DA Davidson cut their price target on Toast from $42.00 to $40.00 and set a "neutral" rating on the stock in a report on Wednesday, April 30th. Citigroup reaffirmed a "buy" rating on shares of Toast in a research report on Wednesday. Truist Financial lifted their price objective on shares of Toast from $48.00 to $50.00 and gave the company a "buy" rating in a research note on Thursday. Finally, Jefferies Financial Group increased their target price on shares of Toast from $50.00 to $54.00 and gave the stock a "buy" rating in a research note on Friday. Twelve investment analysts have rated the stock with a hold rating and sixteen have given a buy rating to the company. Based on data from MarketBeat, the stock has a consensus rating of "Moderate Buy" and an average target price of $42.76.

Toast Trading Down 0.1%

Shares of NYSE:TOST traded down $0.06 during midday trading on Friday, reaching $46.56. The company had a trading volume of 7,386,497 shares, compared to its average volume of 6,828,473. The stock has a market cap of $23.19 billion, a P/E ratio of 202.43 and a beta of 2.00. The company's 50 day moving average price is $43.31 and its 200 day moving average price is $38.82. Toast, Inc. has a 52-week low of $22.10 and a 52-week high of $47.46.

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.