Concurrent Investment Advisors LLC Acquires Shares of 22,808 Toast, Inc. (NYSE:TOST)

Concurrent Investment Advisors LLC purchased a new stake in Toast, Inc. (NYSE:TOST - Free Report) during the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor purchased 22,808 shares of the company's stock, valued at approximately $757,000.

A number of other institutional investors have also recently bought and sold shares of TOST. Wayfinding Financial LLC bought a new stake in Toast in the 1st quarter valued at about $34,000. SBI Securities Co. Ltd. bought a new stake in Toast in the 4th quarter valued at about $35,000. Piscataqua Savings Bank boosted its holdings in Toast by 57.1% in the 1st quarter. Piscataqua Savings Bank now owns 1,100 shares of the company's stock valued at $36,000 after purchasing an additional 400 shares during the period. West Branch Capital LLC boosted its holdings in Toast by 862.1% in the 1st quarter. West Branch Capital LLC now owns 1,116 shares of the company's stock valued at $37,000 after purchasing an additional 1,000 shares during the period. Finally, Proathlete Wealth Management LLC bought a new stake in Toast in the 1st quarter valued at about $50,000. Institutional investors own 82.91% of the company's stock.

Insiders Place Their Bets

In other Toast news, 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 completion of 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 ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, CEO Aman Narang sold 13,829 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 transaction of $588,977.11. Following the completion of the transaction, the chief executive officer directly 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. In the last three months, insiders sold 536,131 shares of company stock valued at $22,443,551. 13.32% of the stock is currently owned by corporate insiders.

Wall Street Analysts Forecast Growth

A number of analysts have issued reports on TOST shares. Truist Financial started coverage on shares of Toast in a report on Monday, June 2nd. They issued a "buy" rating and a $48.00 price objective for the company. The Goldman Sachs Group cut their price target on shares of Toast from $43.00 to $38.00 and set a "neutral" rating for the company in a report on Wednesday, April 2nd. Piper Sandler upped their price target on shares of Toast from $35.00 to $37.00 and gave the stock a "neutral" rating in a report on Friday, May 9th. Wells Fargo & Company upped their price target on shares of Toast from $39.00 to $46.00 and gave the stock an "overweight" rating in a report on Friday, May 9th. Finally, Wall Street Zen downgraded shares of Toast from a "buy" rating to a "hold" rating in a report on Saturday, July 5th. Thirteen analysts have rated the stock with a hold rating and twelve have given a buy rating to the stock. According to data from MarketBeat, the stock has a consensus rating of "Hold" and a consensus target price of $41.21.

Toast Stock Down 1.9%

NYSE:TOST traded down $0.86 during trading hours on Friday, reaching $43.40. The company had a trading volume of 6,307,710 shares, compared to its average volume of 6,804,199. The firm has a market cap of $21.61 billion, a price-to-earnings ratio of 188.70 and a beta of 2.00. The business's 50-day simple moving average is $42.57 and its two-hundred day simple moving average is $38.62. Toast, Inc. has a twelve month low of $22.10 and a twelve month high of $46.57.

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.