Financial Harvest LLC Purchases New Stake in Toast, Inc. (NYSE:TOST)

Financial Harvest LLC acquired a new stake in Toast, Inc. (NYSE:TOST - Free Report) in the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund acquired 475,889 shares of the company's stock, valued at approximately $15,785,000. Toast makes up approximately 10.5% of Financial Harvest LLC's portfolio, making the stock its 3rd biggest position. Financial Harvest LLC owned 0.10% of Toast as of its most recent SEC filing.

Several other institutional investors and hedge funds have also recently made changes to their positions in TOST. Wayfinding Financial LLC purchased a new position in Toast in the first quarter valued at about $34,000. Piscataqua Savings Bank grew its stake 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 purchasing an additional 400 shares during the last quarter. West Branch Capital LLC grew its stake 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 purchasing an additional 1,000 shares during the last quarter. SBI Securities Co. Ltd. grew its stake in Toast by 29.2% in the first quarter. SBI Securities Co. Ltd. now owns 1,257 shares of the company's stock valued at $42,000 after purchasing an additional 284 shares during the last quarter. Finally, Signaturefd LLC grew its stake in Toast by 227.1% in the first quarter. Signaturefd LLC now owns 1,472 shares of the company's stock valued at $49,000 after purchasing an additional 1,022 shares during the last quarter. 82.91% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

A number of equities research analysts have recently weighed in on the company. BMO Capital Markets boosted their price target on Toast from $44.00 to $45.00 and gave the stock an "outperform" rating in a research note on Monday, May 12th. Truist Financial upped their target price on Toast from $48.00 to $50.00 and gave the company a "buy" rating in a research report on Thursday. Barclays reiterated an "overweight" rating on shares of Toast in a research report on Wednesday. Deutsche Bank Aktiengesellschaft initiated coverage on Toast in a research report on Thursday. They issued a "buy" rating and a $54.00 target price on the stock. Finally, Wells Fargo & Company initiated coverage on Toast in a research report on Wednesday. They issued a "buy" rating on the stock. Twelve equities research analysts have rated the stock with a hold rating and fifteen have issued a buy rating to the stock. According to data from MarketBeat.com, Toast has an average rating of "Moderate Buy" and a consensus target price of $43.17.

Toast Trading Down 0.1%

TOST traded down $0.06 during mid-day trading on Friday, hitting $46.56. 7,395,108 shares of the stock were exchanged, compared to its average volume of 6,818,042. The firm's fifty day moving average is $43.43 and its two-hundred day moving average is $38.90. Toast, Inc. has a 1-year low of $22.10 and a 1-year high of $47.50. The company has a market cap of $23.19 billion, a PE ratio of 202.43 and a beta of 2.00.

Insider Buying and Selling

In other news, General Counsel Brian R. Elworthy sold 5,681 shares of the firm's stock in a transaction dated Wednesday, July 2nd. The stock was sold at an average price of $42.59, for a total transaction of $241,953.79. Following the sale, the general counsel owned 221,767 shares of the company's stock, valued at approximately $9,445,056.53. This trade represents a 2.50% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO Aman Narang sold 13,829 shares of the firm's stock in a transaction dated Wednesday, July 2nd. The stock was sold at an average price of $42.59, for a total value of $588,977.11. Following the sale, 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 position. The disclosure for this sale can be found here. Insiders have sold 466,131 shares of company stock worth $20,048,851 over the last ninety days. Company insiders own 13.32% of the company's stock.

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.