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

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

Several other hedge funds have also recently modified their holdings of TOST. Wayfinding Financial LLC purchased a new stake in Toast during the first quarter valued at $34,000. SBI Securities Co. Ltd. purchased a new stake in Toast during the fourth quarter valued at $35,000. Piscataqua Savings Bank raised its stake in Toast by 57.1% during the first quarter. Piscataqua Savings Bank now owns 1,100 shares of the company's stock valued at $36,000 after purchasing an additional 400 shares in the last quarter. West Branch Capital LLC raised its stake in Toast by 862.1% during the first 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 in the last quarter. Finally, Proathlete Wealth Management LLC purchased a new stake in Toast during the first quarter valued at $50,000. Hedge funds and other institutional investors own 82.91% of the company's stock.

Analysts Set New Price Targets

A number of research firms recently issued reports on TOST. DA Davidson decreased their price target on shares of Toast from $42.00 to $40.00 and set a "neutral" rating on the stock in a research note on Wednesday, April 30th. Wolfe Research raised shares of Toast from a "peer perform" rating to an "outperform" rating and set a $44.00 price target on the stock in a research note on Wednesday, April 23rd. Morgan Stanley upped their price target on shares of Toast from $46.00 to $50.00 and gave the company an "overweight" rating in a research note on Friday, May 9th. The Goldman Sachs Group cut their price objective on shares of Toast from $43.00 to $38.00 and set a "neutral" rating on the stock in a research report on Wednesday, April 2nd. Finally, Evercore ISI started coverage on shares of Toast in a research report on Wednesday, April 9th. They set an "in-line" rating and a $29.00 price objective on the stock. Thirteen research analysts have rated the stock with a hold rating and twelve have given a buy rating to the company's stock. According to MarketBeat.com, the company presently has an average rating of "Hold" and a consensus target price of $41.21.

Insider Activity at Toast

In other Toast news, CEO Aman Narang sold 13,829 shares of the stock in a transaction dated Wednesday, July 2nd. The shares were sold at an average price of $42.59, for a total transaction of $588,977.11. Following the transaction, the chief executive officer directly owned 302,498 shares in the company, valued at $12,883,389.82. This represents a 4.37% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Christopher P. Comparato sold 70,000 shares of the stock in a transaction dated Wednesday, May 14th. The stock was sold at an average price of $44.74, for a total transaction of $3,131,800.00. Following the transaction, the director owned 187,140 shares in the company, valued at approximately $8,372,643.60. The trade was a 27.22% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 536,131 shares of company stock worth $22,443,551 over the last quarter. Corporate insiders own 13.32% of the company's stock.

Toast Stock Performance

Toast stock traded down $0.86 during midday trading on Friday, hitting $43.40. 6,307,710 shares of the company's stock were exchanged, compared to its average volume of 6,798,094. Toast, Inc. has a 12 month low of $22.10 and a 12 month high of $46.57. The firm has a 50-day moving average of $42.57 and a two-hundred day moving average of $38.61. The company has a market cap of $21.61 billion, a PE ratio of 188.70 and a beta of 2.00.

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.