Concurrent Investment Advisors LLC Makes New $757,000 Investment in Toast, Inc. (NYSE:TOST)

Concurrent Investment Advisors LLC purchased a new position in shares of Toast, Inc. (NYSE:TOST - Free Report) in the 1st quarter, according to its most recent Form 13F filing with the SEC. The firm purchased 22,808 shares of the company's stock, valued at approximately $757,000.

Several other hedge funds have also added to or reduced their stakes in the company. Wayfinding Financial LLC acquired a new stake in Toast during the 1st quarter worth approximately $34,000. IFM Investors Pty Ltd lifted its holdings in Toast by 6.1% during the 1st quarter. IFM Investors Pty Ltd now owns 67,797 shares of the company's stock worth $2,249,000 after purchasing an additional 3,892 shares during the last quarter. Calamos Advisors LLC bought a new position in Toast during the 1st quarter worth $792,000. D.A. Davidson & CO. increased its stake in Toast by 12.3% during the 1st quarter. D.A. Davidson & CO. now owns 37,711 shares of the company's stock worth $1,251,000 after acquiring an additional 4,118 shares during the period. Finally, Principal Financial Group Inc. increased its stake in Toast by 14,258.8% during the 1st 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 period. 82.91% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of equities analysts have commented on the company. Wells Fargo & Company raised their price objective on Toast from $39.00 to $46.00 and gave the stock an "overweight" rating in a research note on Friday, May 9th. Truist Financial assumed coverage on Toast in a research note on Monday, June 2nd. They set a "buy" rating and a $48.00 price objective on the stock. Morgan Stanley raised their price objective on Toast from $46.00 to $50.00 and gave the stock an "overweight" rating in a research note on Friday, May 9th. Wall Street Zen lowered Toast from a "buy" rating to a "hold" rating in a research note on Saturday, July 5th. Finally, BMO Capital Markets raised their price objective on Toast from $44.00 to $45.00 and gave the stock an "outperform" rating in a research note on Monday, May 12th. Thirteen investment analysts have rated the stock with a hold rating and twelve have given a buy rating to the company's stock. Based on data from MarketBeat, Toast has a consensus rating of "Hold" and an average price target of $41.21.

Insider Activity at Toast

In related news, CEO Aman Narang sold 13,829 shares of the firm's stock in a transaction on Wednesday, July 2nd. The stock was sold at an average price of $42.59, for a total transaction of $588,977.11. Following the sale, the chief executive officer owned 302,498 shares of the company's stock, valued at $12,883,389.82. This trade represents a 4.37% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, President Stephen Fredette sold 7,647 shares of the firm's stock in a transaction 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 sale, the president directly owned 889,017 shares in the company, valued at approximately $37,863,234.03. This trade represents a 0.85% decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 536,131 shares of company stock worth $22,443,551 over the last 90 days. 13.32% of the stock is currently owned by company insiders.

Toast Price Performance

Shares of NYSE TOST traded down $0.66 during mid-day trading on Friday, hitting $43.60. 2,146,091 shares of the stock traded hands, compared to its average volume of 6,992,703. Toast, Inc. has a twelve month low of $22.10 and a twelve month high of $46.57. The company has a market cap of $21.71 billion, a PE ratio of 189.60 and a beta of 2.00. The firm has a 50 day simple moving average of $42.42 and a two-hundred day simple moving average of $38.58.

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.