Envestnet Asset Management Inc. Has $12.27 Million Position in Toast, Inc. (NYSE:TOST)

Envestnet Asset Management Inc. grew its position in shares of Toast, Inc. (NYSE:TOST - Free Report) by 17.1% in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 369,803 shares of the company's stock after purchasing an additional 54,093 shares during the period. Envestnet Asset Management Inc. owned about 0.07% of Toast worth $12,266,000 at the end of the most recent reporting period.

Several other hedge funds have also recently added to or reduced their stakes in the company. Concurrent Investment Advisors LLC purchased a new position in shares of Toast in the first quarter worth about $757,000. Wayfinding Financial LLC bought a new stake in Toast during the 1st quarter valued at approximately $34,000. IFM Investors Pty Ltd boosted its position in Toast by 6.1% during the 1st quarter. IFM Investors Pty Ltd now owns 67,797 shares of the company's stock valued at $2,249,000 after acquiring an additional 3,892 shares in the last quarter. Calamos Advisors LLC bought a new stake in Toast during the 1st quarter valued at approximately $792,000. Finally, D.A. Davidson & CO. lifted its holdings in shares of Toast by 12.3% during the first quarter. D.A. Davidson & CO. now owns 37,711 shares of the company's stock valued at $1,251,000 after purchasing an additional 4,118 shares during the last quarter. Institutional investors own 82.91% of the company's stock.

Wall Street Analysts Forecast Growth

A number of equities analysts recently weighed in on the stock. Morgan Stanley boosted their price objective on shares of Toast from $46.00 to $50.00 and gave the stock an "overweight" rating in a report on Friday, May 9th. Citigroup reissued a "buy" rating on shares of Toast in a report on Wednesday. Jefferies Financial Group increased their price objective on shares of Toast from $50.00 to $54.00 and gave the company a "buy" rating in a report on Friday. Deutsche Bank Aktiengesellschaft began coverage on shares of Toast in a report on Thursday. They issued a "buy" rating and a $54.00 price target for the company. Finally, Piper Sandler increased their price target on shares of Toast from $35.00 to $37.00 and gave the company a "neutral" rating in a report on Friday, May 9th. Twelve analysts have rated the stock with a hold rating and fifteen have issued a buy rating to the stock. According to data from MarketBeat, the stock currently has an average rating of "Moderate Buy" and an average price target of $43.17.

Toast Trading Down 0.1%

Shares of NYSE TOST traded down $0.06 during midday trading on Friday, reaching $46.56. 7,395,108 shares of the stock were exchanged, compared to its average volume of 6,818,042. The company has a market capitalization of $23.19 billion, a P/E ratio of 202.43 and a beta of 2.00. Toast, Inc. has a 52-week low of $22.10 and a 52-week high of $47.50. The stock has a 50 day moving average price of $43.43 and a 200-day moving average price of $38.90.

Insider Transactions at Toast

In other news, CFO Elena Gomez sold 34,170 shares of the business's stock in a transaction on Wednesday, July 2nd. The shares were sold at an average price of $42.56, for a total transaction of $1,454,275.20. Following the transaction, the chief financial officer directly owned 139,357 shares of the company's stock, valued at approximately $5,931,033.92. The trade was a 19.69% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CRO Jonathan Vassil sold 6,592 shares of the business'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 $280,753.28. Following the transaction, the executive directly owned 61,791 shares in the company, valued at approximately $2,631,678.69. The trade was a 9.64% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 466,131 shares of company stock valued at $20,048,851 in the last quarter. Insiders own 13.32% of the company's stock.

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.