Blair William & Co. IL Grows Stake in Toast, Inc. (NYSE:TOST)

Key Points

• Blair William & Co. IL increased its stake in Toast, Inc. by 2.4%, owning over 1.6 million shares valued at approximately $54 million.
• Toast's institutional ownership is significant, with around 82.91% of the company’s stock held by institutional investors and hedge funds.
• Analysts are optimistic about Toast's stock, with multiple firms raising their price targets; the consensus rating is a "Moderate Buy" with a target price of $43.42.

Blair William & Co. IL boosted its position in shares of Toast, Inc. (NYSE:TOST - Free Report) by 2.4% during the first quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 1,631,067 shares of the company's stock after purchasing an additional 38,616 shares during the quarter. Blair William & Co. IL owned approximately 0.33% of Toast worth $54,102,000 at the end of the most recent reporting period.

Other large investors also recently bought and sold shares of the company. Procyon Advisors LLC acquired a new position in shares of Toast during the 1st quarter worth approximately $242,000. Wealth Enhancement Advisory Services LLC increased its position in Toast by 19.5% during the fourth quarter. Wealth Enhancement Advisory Services LLC now owns 22,751 shares of the company's stock worth $829,000 after buying an additional 3,713 shares in the last quarter. Yorktown Management & Research Co Inc acquired a new position in shares of Toast in the first quarter worth $252,000. Principal Financial Group Inc. raised its holdings in shares of Toast by 14,258.8% in the first quarter. Principal Financial Group Inc. now owns 5,474,443 shares of the company's stock worth $181,587,000 after acquiring an additional 5,436,317 shares during the last quarter. Finally, BNP Paribas Financial Markets purchased a new stake in shares of Toast in the fourth quarter valued at $83,684,000. Institutional investors and hedge funds own 82.91% of the company's stock.

Analyst Ratings Changes

TOST has been the subject of a number of recent research reports. Morgan Stanley lifted their price objective on Toast from $46.00 to $50.00 and gave the stock an "overweight" rating in a research report on Friday, May 9th. Deutsche Bank Aktiengesellschaft assumed coverage on shares of Toast in a report on Thursday, July 17th. They set a "buy" rating and a $54.00 price target for the company. BMO Capital Markets upped their price objective on shares of Toast from $44.00 to $45.00 and gave the company an "outperform" rating in a research note on Monday, May 12th. Barclays reaffirmed an "overweight" rating on shares of Toast in a research note on Wednesday, July 16th. Finally, Piper Sandler increased their price target on Toast from $35.00 to $37.00 and gave the stock a "neutral" rating in a research note on Friday, May 9th. Twelve analysts have rated the stock with a hold rating and fifteen have assigned a buy rating to the company. According to data from MarketBeat, Toast has a consensus rating of "Moderate Buy" and a consensus target price of $43.42.

Toast Stock Performance

NYSE TOST opened at $46.74 on Monday. The firm has a market capitalization of $23.28 billion, a price-to-earnings ratio of 203.22 and a beta of 2.01. Toast, Inc. has a one year low of $22.10 and a one year high of $49.56. The company's 50 day moving average price is $44.28 and its 200 day moving average price is $39.71.

Insider Buying and Selling

In related news, CFO Elena Gomez sold 34,170 shares of the stock in a transaction on 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 completion of the sale, the chief financial officer directly owned 139,357 shares in the company, valued at approximately $5,931,033.92. This represents a 19.69% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CRO Jonathan Vassil sold 6,592 shares of the business's stock in a transaction dated Wednesday, July 2nd. The stock was sold at an average price of $42.59, for a total value of $280,753.28. Following the transaction, the executive owned 61,791 shares in the company, valued at approximately $2,631,678.69. This represents a 9.64% decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 466,131 shares of company stock valued at $20,048,851. 13.32% of the stock is owned by corporate insiders.

Toast Company 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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.