Cerity Partners LLC Reduces Position in Toast, Inc. (NYSE:TOST)

Cerity Partners LLC lowered its stake in shares of Toast, Inc. (NYSE:TOST - Free Report) by 11.0% during the first quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 65,800 shares of the company's stock after selling 8,131 shares during the period. Cerity Partners LLC's holdings in Toast were worth $2,183,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Wayfinding Financial LLC acquired a new stake in shares of Toast during the 1st quarter worth $34,000. Piscataqua Savings Bank grew its holdings in shares of Toast by 57.1% during the 1st quarter. Piscataqua Savings Bank now owns 1,100 shares of the company's stock worth $36,000 after purchasing an additional 400 shares in the last quarter. West Branch Capital LLC grew its holdings in shares of Toast by 862.1% during the 1st quarter. West Branch Capital LLC now owns 1,116 shares of the company's stock worth $37,000 after purchasing an additional 1,000 shares in the last quarter. Proathlete Wealth Management LLC acquired a new stake in shares of Toast during the 1st quarter worth $50,000. Finally, LRI Investments LLC grew its holdings in shares of 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 purchasing an additional 516 shares in the last quarter. 82.91% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling

In related news, President Stephen Fredette sold 7,647 shares of Toast stock in a transaction on Wednesday, July 2nd. The stock was sold at an average price of $42.59, for a total transaction of $325,685.73. Following the transaction, the president directly owned 889,017 shares in the company, valued at approximately $37,863,234.03. The trade was a 0.85% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO Aman Narang sold 13,829 shares of Toast stock in a transaction on Wednesday, July 2nd. The shares were sold at an average price of $42.59, for a total value of $588,977.11. Following the transaction, 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 ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 466,131 shares of company stock worth $20,048,851 over the last three months. Corporate insiders own 13.32% of the company's stock.

Toast Stock Down 0.1%

Shares of NYSE:TOST traded down $0.06 during trading on Friday, hitting $46.56. The stock had a trading volume of 7,395,108 shares, compared to its average volume of 6,818,042. Toast, Inc. has a 12 month low of $22.10 and a 12 month high of $47.50. The company has a market capitalization of $23.19 billion, a PE ratio of 202.43 and a beta of 2.00. The firm's fifty day moving average is $43.43 and its 200 day moving average is $38.90.

Wall Street Analyst Weigh In

Several equities analysts have commented on the company. Truist Financial increased their target price on Toast from $48.00 to $50.00 and gave the company a "buy" rating in a research report on Thursday. Morgan Stanley increased their target price on Toast from $46.00 to $50.00 and gave the company an "overweight" rating in a research report on Friday, May 9th. BMO Capital Markets increased their target price on Toast from $44.00 to $45.00 and gave the company an "outperform" rating in a research report on Monday, May 12th. The Goldman Sachs Group dropped their target price on Toast from $43.00 to $38.00 and set a "neutral" rating for the company in a research report on Wednesday, April 2nd. Finally, Wells Fargo & Company started coverage on Toast in a research report on Wednesday. They issued a "buy" rating for the company. Twelve research analysts have rated the stock with a hold rating and fifteen have issued a buy rating to the company's stock. According to MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and an average target price of $43.17.

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.