Lee Johnson Capital Management LLC Invests $3.80 Million in Toast, Inc. (NYSE:TOST)

Lee Johnson Capital Management LLC acquired a new stake in Toast, Inc. (NYSE:TOST - Free Report) in the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund acquired 114,531 shares of the company's stock, valued at approximately $3,799,000. Toast comprises 2.0% of Lee Johnson Capital Management LLC's holdings, making the stock its 16th largest position.

A number of other institutional investors have also modified their holdings of TOST. Arrowstreet Capital Limited Partnership purchased a new stake in Toast in the fourth quarter valued at approximately $282,010,000. Norges Bank purchased a new stake in Toast during the fourth quarter worth approximately $205,888,000. Principal Financial Group Inc. grew its stake in Toast by 14,258.8% during the first quarter. Principal Financial Group Inc. now owns 5,474,443 shares of the company's stock worth $181,587,000 after buying an additional 5,436,317 shares during the period. FMR LLC grew its stake in Toast by 22.1% during the fourth quarter. FMR LLC now owns 29,853,639 shares of the company's stock worth $1,088,165,000 after buying an additional 5,403,896 shares during the period. Finally, Vanguard Group Inc. grew its stake in Toast by 10.8% during the fourth quarter. Vanguard Group Inc. now owns 42,474,232 shares of the company's stock worth $1,548,186,000 after buying an additional 4,147,430 shares during the period. Institutional investors and hedge funds own 82.91% of the company's stock.

Toast Stock Performance

Shares of NYSE:TOST traded up $1.12 during trading hours on Wednesday, hitting $44.66. 8,295,583 shares of the company's stock traded hands, compared to its average volume of 6,804,468. Toast, Inc. has a 52 week low of $22.10 and a 52 week high of $46.57. The company's fifty day simple moving average is $42.24 and its two-hundred day simple moving average is $38.53. The company has a market cap of $22.24 billion, a price-to-earnings ratio of 194.17 and a beta of 2.00.

Wall Street Analysts Forecast Growth

Several research firms have issued reports on TOST. Truist Financial began coverage on shares of Toast in a research note on Monday, June 2nd. They set a "buy" rating and a $48.00 price objective for the company. Wolfe Research upgraded shares of Toast from a "peer perform" rating to an "outperform" rating and set a $44.00 price objective for the company in a research note on Wednesday, April 23rd. Morgan Stanley boosted their target price on shares of Toast from $46.00 to $50.00 and gave the stock an "overweight" rating in a research report on Friday, May 9th. DA Davidson cut their price target on shares of Toast from $42.00 to $40.00 and set a "neutral" rating on the stock in a report on Wednesday, April 30th. Finally, Wells Fargo & Company increased their target price on shares of Toast from $39.00 to $46.00 and gave the stock an "overweight" rating in a report on Friday, May 9th. Thirteen equities research analysts have rated the stock with a hold rating and twelve have given a buy rating to the stock. Based on data from MarketBeat, the stock has an average rating of "Hold" and a consensus price target of $41.21.

Insider Activity at Toast

In other news, CRO Jonathan Vassil sold 6,592 shares of the 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 $280,753.28. Following the completion of the sale, the executive directly owned 61,791 shares of the company's stock, valued at $2,631,678.69. This represents a 9.64% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, CEO Aman Narang sold 13,829 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 $588,977.11. Following the completion of the sale, the chief executive officer directly owned 302,498 shares of the company's stock, valued at $12,883,389.82. This trade represents a 4.37% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 536,131 shares of company stock valued at $22,443,551. Corporate insiders own 13.32% of the company's stock.

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.