Kestra Private Wealth Services LLC Grows Stock Holdings in Toast, Inc. (NYSE:TOST)

Kestra Private Wealth Services LLC increased its stake in Toast, Inc. (NYSE:TOST - Free Report) by 15.5% in the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 40,781 shares of the company's stock after buying an additional 5,477 shares during the period. Kestra Private Wealth Services LLC's holdings in Toast were worth $1,353,000 at the end of the most recent reporting period.

Other institutional investors also recently bought and sold shares of the company. Envestnet Portfolio Solutions Inc. grew its holdings in Toast by 6.6% in the fourth quarter. Envestnet Portfolio Solutions Inc. now owns 19,967 shares of the company's stock worth $728,000 after purchasing an additional 1,236 shares during the period. American Century Companies Inc. grew its holdings in shares of Toast by 330.0% during the fourth quarter. American Century Companies Inc. now owns 335,965 shares of the company's stock valued at $12,246,000 after buying an additional 257,831 shares during the last quarter. Sei Investments Co. grew its holdings in shares of Toast by 48.3% during the fourth quarter. Sei Investments Co. now owns 818,357 shares of the company's stock valued at $29,829,000 after buying an additional 266,471 shares during the last quarter. KLP Kapitalforvaltning AS purchased a new stake in shares of Toast during the fourth quarter valued at approximately $4,928,000. Finally, Vanguard Group Inc. grew its holdings in shares of Toast by 10.8% during the fourth quarter. Vanguard Group Inc. now owns 42,474,232 shares of the company's stock valued at $1,548,186,000 after buying an additional 4,147,430 shares during the last quarter. 82.91% of the stock is owned by institutional investors.

Insider Activity at Toast

In other news, General Counsel Brian R. Elworthy sold 5,681 shares of the company's stock in a transaction that occurred on Wednesday, July 2nd. The shares were sold at an average price of $42.59, for a total value of $241,953.79. Following the transaction, the general counsel directly owned 221,767 shares in the company, valued at approximately $9,445,056.53. This represents a 2.50% decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, CRO Jonathan Vassil sold 6,592 shares of the stock in a transaction that occurred 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 sale, the executive owned 61,791 shares in the company, valued at approximately $2,631,678.69. This trade represents a 9.64% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 466,131 shares of company stock worth $20,048,851 in the last 90 days. 13.32% of the stock is owned by insiders.

Toast Stock Up 0.8%

TOST stock opened at $47.70 on Wednesday. The stock has a market capitalization of $23.75 billion, a P/E ratio of 207.37 and a beta of 2.00. The firm has a 50-day simple moving average of $43.59 and a 200-day simple moving average of $39.05. Toast, Inc. has a 52 week low of $22.10 and a 52 week high of $48.35.

Analyst Ratings Changes

Several research analysts have weighed in on the stock. Citigroup reiterated a "buy" rating on shares of Toast in a research report on Wednesday, July 16th. Barclays reaffirmed an "overweight" rating on shares of Toast in a research note on Wednesday, July 16th. Deutsche Bank Aktiengesellschaft reaffirmed a "buy" rating and set a $54.00 target price on shares of Toast in a research note on Thursday, July 17th. The Goldman Sachs Group reduced their target price on shares of Toast from $43.00 to $38.00 and set a "neutral" rating on the stock in a report on Wednesday, April 2nd. Finally, Wells Fargo & Company initiated coverage on shares of Toast in a report on Wednesday, July 16th. They issued a "buy" rating on the stock. Twelve analysts have rated the stock with a hold rating and fifteen have given a buy rating to the stock. According to data from MarketBeat, Toast has an average rating of "Moderate Buy" and a consensus price target of $43.17.

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.