Lecap Asset Management Ltd. Decreases Holdings in Toast, Inc. (NYSE:TOST)

Lecap Asset Management Ltd. cut its holdings in Toast, Inc. (NYSE:TOST - Free Report) by 35.3% during the 1st quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 44,212 shares of the company's stock after selling 24,080 shares during the quarter. Lecap Asset Management Ltd.'s holdings in Toast were worth $1,467,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of the business. Charles Schwab Investment Management Inc. increased its holdings in shares of Toast by 5.6% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 2,938,487 shares of the company's stock worth $107,108,000 after buying an additional 155,446 shares in the last quarter. Procyon Advisors LLC bought a new stake in Toast during the 1st quarter worth $242,000. Wealth Enhancement Advisory Services LLC increased its holdings in 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 purchasing an additional 3,713 shares in the last quarter. Jupiter Asset Management Ltd. raised its position in Toast by 134.3% in the fourth quarter. Jupiter Asset Management Ltd. now owns 392,853 shares of the company's stock valued at $14,319,000 after purchasing an additional 225,215 shares during the last quarter. Finally, New York Life Investment Management LLC acquired a new stake in shares of Toast during the fourth quarter valued at about $1,572,000. Institutional investors own 82.91% of the company's stock.

Toast Stock Up 3.1%

TOST stock traded up $1.30 during mid-day trading on Friday, reaching $43.79. 1,836,139 shares of the company traded hands, compared to its average volume of 6,681,154. The firm's 50 day moving average price is $40.68 and its 200 day moving average price is $38.16. The stock has a market cap of $21.81 billion, a price-to-earnings ratio of 190.57 and a beta of 2.02. Toast, Inc. has a fifty-two week low of $22.10 and a fifty-two week high of $45.56.

Insider Buying and Selling

In other news, Director Christopher P. Comparato sold 70,000 shares of the business'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 value of $2,394,700.00. Following the transaction, the director now owns 179,316 shares in the company, valued at $6,134,400.36. The trade was a 28.08% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, General Counsel Brian R. Elworthy sold 300,000 shares of the company's stock in a transaction that occurred on Monday, June 2nd. The shares were sold at an average price of $42.60, for a total value of $12,780,000.00. Following the completion of the transaction, the general counsel now directly owns 216,156 shares of the company's stock, valued at approximately $9,208,245.60. This represents a 58.12% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 468,212 shares of company stock worth $19,551,906. 13.32% of the stock is owned by corporate insiders.

Analyst Ratings Changes

Several research firms have recently issued reports on TOST. Piper Sandler upped their price objective on Toast from $35.00 to $37.00 and gave the company a "neutral" rating in a research note on Friday, May 9th. Wolfe Research raised shares of Toast from a "peer perform" rating to an "outperform" rating and set a $44.00 price target for the company in a research note on Wednesday, April 23rd. Morgan Stanley lifted their price target on shares of Toast from $46.00 to $50.00 and gave the stock an "overweight" rating in a report on Friday, May 9th. DA Davidson decreased their price objective on Toast from $42.00 to $40.00 and set a "neutral" rating for the company in a report on Wednesday, April 30th. Finally, Wall Street Zen lowered Toast from a "strong-buy" rating to a "buy" rating in a research report on Sunday, June 1st. Twelve research analysts have rated the stock with a hold rating and thirteen have given a buy rating to the stock. According to MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and a consensus target price of $41.21.

Toast Company 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.