Toast, Inc. (NYSE:TOST) Shares Sold by Exchange Traded Concepts LLC

Exchange Traded Concepts LLC lowered its holdings in Toast, Inc. (NYSE:TOST - Free Report) by 62.4% in the first quarter, according to its most recent disclosure with the SEC. The institutional investor owned 44,628 shares of the company's stock after selling 73,918 shares during the period. Exchange Traded Concepts LLC's holdings in Toast were worth $1,480,000 at the end of the most recent reporting period.

Several other large investors have also recently added to or reduced their stakes in TOST. Blue Trust Inc. raised its position in Toast by 120.4% in the 4th quarter. Blue Trust Inc. now owns 692 shares of the company's stock valued at $25,000 after purchasing an additional 378 shares in the last quarter. SBI Securities Co. Ltd. purchased a new stake in shares of Toast during the fourth quarter worth approximately $35,000. Piscataqua Savings Bank raised its holdings in Toast by 57.1% in the first quarter. Piscataqua Savings Bank now owns 1,100 shares of the company's stock valued at $36,000 after acquiring an additional 400 shares in the last quarter. West Branch Capital LLC raised its holdings in Toast by 862.1% in the first quarter. West Branch Capital LLC now owns 1,116 shares of the company's stock valued at $37,000 after acquiring an additional 1,000 shares in the last quarter. Finally, LRI Investments LLC lifted its stake in Toast by 51.6% in the fourth quarter. LRI Investments LLC now owns 1,516 shares of the company's stock worth $55,000 after acquiring an additional 516 shares during the last quarter. 82.91% of the stock is owned by hedge funds and other institutional investors.

Insider Transactions at Toast

In other news, Director Christopher P. Comparato sold 70,000 shares of the company's stock in a transaction that occurred on Thursday, April 17th. The stock was sold at an average price of $34.21, for a total transaction of $2,394,700.00. Following the completion of the sale, the director now owns 179,316 shares in the company, valued at $6,134,400.36. This represents a 28.08% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, Director Susan Chapman-Hughes sold 7,500 shares of the stock in a transaction on Friday, June 6th. The stock was sold at an average price of $44.00, for a total value of $330,000.00. Following the sale, the director now directly owns 23,030 shares of the company's stock, valued at approximately $1,013,320. This represents a 24.57% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders sold 468,212 shares of company stock worth $19,551,906. Company insiders own 13.32% of the company's stock.

Toast Stock Performance

NYSE TOST traded up $0.13 during trading on Thursday, reaching $42.59. The company's stock had a trading volume of 4,366,525 shares, compared to its average volume of 6,650,504. The business's fifty day moving average price is $39.65 and its 200-day moving average price is $38.03. Toast, Inc. has a twelve month low of $22.10 and a twelve month high of $45.56. The firm has a market cap of $21.21 billion, a price-to-earnings ratio of 185.18 and a beta of 2.02.

Wall Street Analyst Weigh In

A number of equities research analysts have commented on TOST shares. Wells Fargo & Company increased their price objective on shares of Toast from $39.00 to $46.00 and gave the company an "overweight" rating in a research report on Friday, May 9th. Robert W. Baird boosted their target price on shares of Toast from $38.00 to $40.00 and gave the stock a "neutral" rating in a research note on Thursday, February 20th. Piper Sandler raised their price target on Toast from $35.00 to $37.00 and gave the company a "neutral" rating in a research note on Friday, May 9th. Royal Bank Of Canada lifted their price target on Toast from $40.00 to $45.00 and gave the stock a "sector perform" rating in a report on Thursday, February 20th. Finally, UBS Group increased their price objective on Toast from $41.00 to $47.00 and gave the company a "buy" rating in a report on Thursday, February 20th. Twelve analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the company. According to data from MarketBeat, the company currently has an average rating of "Moderate Buy" and an average target price of $41.21.

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.