HB Wealth Management LLC Takes Position in Toast, Inc. (NYSE:TOST)

Key Points

• HB Wealth Management LLC has acquired a new stake in Toast, Inc. during the first quarter, purchasing 10,752 shares valued at approximately $357,000.
• Several institutional investors have increased their stakes in Toast, with Principal Financial Group Inc. showing notable growth by 14,258.8% in the first quarter.
• Toast, Inc. has received positive ratings from multiple research firms, with target prices ranging from $37.00 to $54.00, indicating strong potential for growth among analysts.

HB Wealth Management LLC acquired a new stake in shares of Toast, Inc. (NYSE:TOST - Free Report) in the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm acquired 10,752 shares of the company's stock, valued at approximately $357,000.

Other hedge funds have also recently bought and sold shares of the company. Procyon Advisors LLC acquired a new stake in Toast during the 1st quarter valued at approximately $242,000. Wealth Enhancement Advisory Services LLC grew its position in shares of Toast by 19.5% in the 4th quarter. Wealth Enhancement Advisory Services LLC now owns 22,751 shares of the company's stock worth $829,000 after acquiring an additional 3,713 shares in the last quarter. Yorktown Management & Research Co Inc acquired a new position in shares of Toast in the 1st quarter worth approximately $252,000. Principal Financial Group Inc. grew its position in shares of Toast by 14,258.8% in the 1st quarter. Principal Financial Group Inc. now owns 5,474,443 shares of the company's stock worth $181,587,000 after acquiring an additional 5,436,317 shares in the last quarter. Finally, BNP Paribas Financial Markets acquired a new position in shares of Toast in the 4th quarter worth approximately $83,684,000. Institutional investors and hedge funds own 82.91% of the company's stock.

Toast Price Performance

Shares of TOST traded down $2.10 during midday trading on Friday, reaching $46.74. The stock had a trading volume of 8,977,786 shares, compared to its average volume of 8,397,469. Toast, Inc. has a 52 week low of $22.10 and a 52 week high of $49.56. The firm's 50 day moving average price is $44.28 and its 200-day moving average price is $39.71. The company has a market capitalization of $23.28 billion, a P/E ratio of 203.22 and a beta of 2.01.

Analysts Set New Price Targets

Several research analysts have recently commented on TOST shares. Barclays reiterated an "overweight" rating on shares of Toast in a research report on Wednesday, July 16th. Wolfe Research upgraded Toast from a "peer perform" rating to an "outperform" rating and set a $44.00 target price for the company in a research report on Wednesday, April 23rd. DA Davidson lifted their target price on Toast from $40.00 to $46.00 and gave the stock a "neutral" rating in a research report on Tuesday, July 29th. Wall Street Zen lowered Toast from a "buy" rating to a "hold" rating in a research report on Saturday, July 5th. Finally, Jefferies Financial Group raised their price target on Toast from $50.00 to $54.00 and gave the stock a "buy" rating in a report on Friday, July 18th. Twelve research analysts have rated the stock with a hold rating and fifteen have given a buy rating to the company's stock. According to data from MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and an average price target of $43.42.

Insider Buying and Selling

In other news, President Stephen Fredette sold 7,647 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 value of $325,685.73. Following the sale, the president owned 889,017 shares of the company's stock, valued at approximately $37,863,234.03. The trade was a 0.85% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, General Counsel Brian R. Elworthy sold 5,681 shares of Toast stock in a transaction on Wednesday, July 2nd. The stock was sold at an average price of $42.59, for a total value of $241,953.79. Following the completion of the transaction, the general counsel owned 221,767 shares in the company, valued at $9,445,056.53. The trade was a 2.50% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 466,131 shares of company stock worth $20,048,851. 13.32% of the stock is owned by corporate insiders.

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.