Angeles Wealth Management LLC Makes New $285,000 Investment in Toast, Inc. (NYSE:TOST)

Key Points

• Angeles Wealth Management LLC acquired a new stake in Toast, Inc. during the first quarter, purchasing 8,590 shares valued at approximately $285,000.
• Insider transactions revealed that Toast's Director and CFO sold a combined total of 45,170 shares, indicating a decrease in their holdings, with insiders selling 466,131 shares worth over $20 million recently.
• Analysts remain optimistic, with 15 buy ratings and a consensus target price of $43.17 for Toast, even as the stock currently trades at $48.76.

Angeles Wealth Management LLC bought a new position in shares of Toast, Inc. (NYSE:TOST - Free Report) during the first quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm bought 8,590 shares of the company's stock, valued at approximately $285,000.

A number of other large investors also recently made changes to their positions in the company. SBI Securities Co. Ltd. grew its position in Toast by 29.2% during the first quarter. SBI Securities Co. Ltd. now owns 1,257 shares of the company's stock worth $42,000 after buying an additional 284 shares in the last quarter. Keel Point LLC grew its position in Toast by 2.7% during the fourth quarter. Keel Point LLC now owns 12,269 shares of the company's stock worth $447,000 after buying an additional 326 shares in the last quarter. Piscataqua Savings Bank grew its position in 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. Legacy Advisors LLC grew its position in Toast by 1.7% during the first quarter. Legacy Advisors LLC now owns 26,318 shares of the company's stock worth $873,000 after buying an additional 438 shares in the last quarter. Finally, Garde Capital Inc. grew its position in Toast by 13.4% during the first quarter. Garde Capital Inc. now owns 3,812 shares of the company's stock worth $126,000 after buying an additional 450 shares in the last quarter. Institutional investors own 82.91% of the company's stock.

Analyst Ratings Changes

A number of equities research analysts have weighed in on TOST shares. Wells Fargo & Company started coverage on Toast in a report on Wednesday, July 16th. They issued a "buy" rating on the stock. Truist Financial raised their target price on Toast from $48.00 to $50.00 and gave the company a "buy" rating in a report on Thursday, July 17th. Evercore ISI started coverage on Toast in a report on Wednesday, April 9th. They issued an "in-line" rating and a $29.00 target price on the stock. Piper Sandler raised their target price on Toast from $35.00 to $37.00 and gave the company a "neutral" rating in a report on Friday, May 9th. Finally, BMO Capital Markets raised their target price on Toast from $44.00 to $45.00 and gave the company an "outperform" rating in a report on Monday, May 12th. Twelve equities research analysts have rated the stock with a hold rating and fifteen have given a buy rating to the stock. According to data from MarketBeat.com, Toast currently has a consensus rating of "Moderate Buy" and an average target price of $43.42.

Toast Stock Performance

Shares of NYSE:TOST traded up $0.34 during midday trading on Wednesday, reaching $48.89. The company's stock had a trading volume of 1,747,127 shares, compared to its average volume of 7,097,383. The firm has a market capitalization of $24.35 billion, a price-to-earnings ratio of 212.58 and a beta of 2.00. The firm has a 50 day moving average price of $43.95 and a two-hundred day moving average price of $39.44. Toast, Inc. has a fifty-two week low of $22.10 and a fifty-two week high of $49.56.

Insider Buying and Selling

In other news, CFO Elena Gomez sold 34,170 shares of the business's stock in a transaction dated Wednesday, July 2nd. The stock was sold at an average price of $42.56, for a total value of $1,454,275.20. Following the transaction, the chief financial officer directly owned 139,357 shares of the company's stock, valued at $5,931,033.92. The trade was a 19.69% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, Director Christopher P. Comparato sold 70,000 shares of the business's stock in a transaction dated Wednesday, May 14th. The shares were sold at an average price of $44.74, for a total value of $3,131,800.00. Following the completion of the transaction, the director directly owned 187,140 shares in the company, valued at $8,372,643.60. This represents a 27.22% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 466,131 shares of company stock worth $20,048,851 over the last three months. 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.