Lee Johnson Capital Management LLC Takes Position in Toast, Inc. (NYSE:TOST)

Lee Johnson Capital Management LLC purchased a new position in shares of Toast, Inc. (NYSE:TOST - Free Report) in the first quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm purchased 114,531 shares of the company's stock, valued at approximately $3,799,000. Toast accounts for approximately 2.0% of Lee Johnson Capital Management LLC's investment portfolio, making the stock its 16th largest position.

A number of other institutional investors have also recently bought and sold shares of TOST. Wayfinding Financial LLC bought a new stake in shares of Toast during the 1st quarter worth about $34,000. SBI Securities Co. Ltd. acquired a new stake in Toast during the fourth quarter worth approximately $35,000. Piscataqua Savings Bank boosted its holdings in shares of Toast by 57.1% during the first quarter. Piscataqua Savings Bank now owns 1,100 shares of the company's stock worth $36,000 after acquiring an additional 400 shares during the period. West Branch Capital LLC grew its position in shares of 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. Finally, Proathlete Wealth Management LLC bought a new position in shares of Toast during the first quarter worth approximately $50,000. Institutional investors and hedge funds own 82.91% of the company's stock.

Wall Street Analysts Forecast Growth

Several research firms recently issued reports on TOST. Wells Fargo & Company boosted their price target on Toast from $39.00 to $46.00 and gave the company an "overweight" rating in a research note on Friday, May 9th. BMO Capital Markets upped their price target on shares of Toast from $44.00 to $45.00 and gave the company an "outperform" rating in a research note on Monday, May 12th. Wolfe Research raised shares of Toast from a "peer perform" rating to an "outperform" rating and set a $44.00 price target on the stock in a research report on Wednesday, April 23rd. Truist Financial started coverage on Toast in a research report on Monday, June 2nd. They set a "buy" rating and a $48.00 price target on the stock. Finally, Wall Street Zen cut Toast from a "buy" rating to a "hold" rating in a report on Saturday, July 5th. Thirteen investment analysts have rated the stock with a hold rating and twelve have given a buy rating to the company's stock. According to data from MarketBeat, Toast presently has an average rating of "Hold" and an average target price of $41.21.

Toast Stock Down 1.9%

Shares of NYSE:TOST traded down $0.86 during midday trading on Friday, hitting $43.40. 6,307,710 shares of the stock traded hands, compared to its average volume of 6,798,094. The business's 50 day moving average is $42.57 and its two-hundred day moving average is $38.61. The stock has a market capitalization of $21.61 billion, a PE ratio of 188.70 and a beta of 2.00. Toast, Inc. has a one year low of $22.10 and a one year high of $46.57.

Insiders Place Their Bets

In related news, General Counsel Brian R. Elworthy sold 5,681 shares of the stock in a transaction dated Wednesday, July 2nd. The shares were sold at an average price of $42.59, for a total transaction of $241,953.79. Following the sale, the general counsel directly owned 221,767 shares of the company's stock, valued at approximately $9,445,056.53. This represents a 2.50% decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, CEO Aman Narang sold 13,829 shares of Toast 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 owned 302,498 shares of the company's stock, valued at $12,883,389.82. This represents a 4.37% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders have sold 536,131 shares of company stock valued at $22,443,551. 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.