Morse Asset Management Inc Makes New Investment in Toast, Inc. (NYSE:TOST)

Morse Asset Management Inc bought a new position in shares of Toast, Inc. (NYSE:TOST - Free Report) during the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm bought 6,395 shares of the company's stock, valued at approximately $212,000.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in TOST. Arrowstreet Capital Limited Partnership bought a new stake in shares of Toast during the fourth quarter valued at approximately $282,010,000. Norges Bank bought a new position in Toast during the fourth quarter valued at $205,888,000. Principal Financial Group Inc. increased its holdings 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 buying an additional 5,436,317 shares during the last quarter. FMR LLC raised its position in shares of Toast by 22.1% during the 4th quarter. FMR LLC now owns 29,853,639 shares of the company's stock valued at $1,088,165,000 after buying an additional 5,403,896 shares in the last quarter. Finally, Vanguard Group Inc. raised its position in shares of Toast by 10.8% during the 4th 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 in the last quarter. Institutional investors own 82.91% of the company's stock.

Insider Transactions at Toast

In other Toast news, Director Paul D. Bell sold 11,000 shares of the firm's stock in a transaction on Thursday, May 15th. The stock was sold at an average price of $45.13, for a total value of $496,430.00. Following the completion of the sale, the director directly owned 229,680 shares of the company's stock, valued at $10,365,458.40. This trade represents a 4.57% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CFO Elena Gomez sold 34,170 shares of the firm's stock in a transaction on Wednesday, July 2nd. The stock was sold at an average price of $42.56, for a total value of $1,454,275.20. Following the completion of the sale, the chief financial officer directly owned 139,357 shares of the company's stock, valued at $5,931,033.92. This trade represents a 19.69% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 466,131 shares of company stock worth $20,048,851 in the last quarter. 13.32% of the stock is owned by insiders.

Analyst Ratings Changes

Several brokerages have recently issued reports on TOST. Jefferies Financial Group upped their target price on shares of Toast from $50.00 to $54.00 and gave the company a "buy" rating in a research report on Friday. Deutsche Bank Aktiengesellschaft began coverage on shares of Toast in a research note on Thursday. They set a "buy" rating and a $54.00 target price for the company. Wall Street Zen lowered shares of Toast from a "buy" rating to a "hold" rating in a research note on Saturday, July 5th. DA Davidson lowered their target price on shares of Toast from $42.00 to $40.00 and set a "neutral" rating for the company in a research note on Wednesday, April 30th. Finally, Barclays reissued an "overweight" rating on shares of Toast in a research note on Wednesday. Twelve analysts have rated the stock with a hold rating and fifteen have assigned a buy rating to the company. According to data from MarketBeat, Toast currently has an average rating of "Moderate Buy" and an average price target of $43.17.

Toast Stock Performance

NYSE TOST opened at $46.56 on Monday. The business has a fifty day moving average price of $43.43 and a 200 day moving average price of $38.92. Toast, Inc. has a one year low of $22.10 and a one year high of $47.50. The company has a market cap of $23.19 billion, a P/E ratio of 202.43 and a beta of 2.00.

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.

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