Perpetual Ltd Has $62.70 Million Holdings in Toast, Inc. (NYSE:TOST)

Perpetual Ltd grew its stake in Toast, Inc. (NYSE:TOST - Free Report) by 13.2% during the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 1,890,264 shares of the company's stock after purchasing an additional 220,081 shares during the period. Perpetual Ltd owned about 0.38% of Toast worth $62,700,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds also recently made changes to their positions in the stock. Keel Point LLC increased its position in shares of Toast by 2.7% during the fourth quarter. Keel Point LLC now owns 12,269 shares of the company's stock valued at $447,000 after purchasing an additional 326 shares during the period. EverSource Wealth Advisors LLC boosted its stake in Toast by 11.6% during the fourth quarter. EverSource Wealth Advisors LLC now owns 3,435 shares of the company's stock worth $125,000 after buying an additional 358 shares in the last quarter. Blue Trust Inc. increased its holdings in Toast by 120.4% in the 4th quarter. Blue Trust Inc. now owns 692 shares of the company's stock valued at $25,000 after buying an additional 378 shares during the period. Piscataqua Savings Bank raised its stake in shares of Toast by 57.1% in the 1st quarter. Piscataqua Savings Bank now owns 1,100 shares of the company's stock valued at $36,000 after buying an additional 400 shares in the last quarter. Finally, Farther Finance Advisors LLC raised its stake in shares of Toast by 19.8% in the 4th quarter. Farther Finance Advisors LLC now owns 2,435 shares of the company's stock valued at $89,000 after buying an additional 402 shares in the last quarter. Institutional investors own 82.91% of the company's stock.

Insider Activity

In other news, Director Susan Chapman-Hughes sold 7,500 shares of the company's stock in a transaction on Friday, June 6th. The stock was sold at an average price of $44.00, for a total transaction of $330,000.00. Following the transaction, the director now owns 23,030 shares of the company's stock, valued at $1,013,320. This represents a 24.57% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, Director Christopher P. Comparato sold 70,000 shares of the firm's stock in a transaction dated Thursday, April 17th. The shares were sold at an average price of $34.21, for a total value of $2,394,700.00. Following the completion of the transaction, the director now owns 179,316 shares in the company, valued at approximately $6,134,400.36. This represents a 28.08% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 468,212 shares of company stock valued at $19,551,906 over the last three months. 13.32% of the stock is owned by insiders.

Toast Trading Up 2.3%

TOST opened at $42.46 on Friday. Toast, Inc. has a 1-year low of $22.10 and a 1-year high of $45.56. The stock has a market capitalization of $21.14 billion, a PE ratio of 184.59 and a beta of 2.02. The firm has a 50-day moving average price of $40.68 and a two-hundred day moving average price of $38.16.

Analyst Ratings Changes

Several analysts have recently weighed in on the stock. DA Davidson decreased their target price on shares of Toast from $42.00 to $40.00 and set a "neutral" rating on the stock in a research report on Wednesday, April 30th. Piper Sandler lifted their price objective on Toast from $35.00 to $37.00 and gave the company a "neutral" rating in a report on Friday, May 9th. Wells Fargo & Company upped their price objective on Toast from $39.00 to $46.00 and gave the company an "overweight" rating in a research note on Friday, May 9th. Wolfe Research upgraded Toast from a "peer perform" rating to an "outperform" rating and set a $44.00 target price for the company in a research report on Wednesday, April 23rd. Finally, Evercore ISI assumed coverage on Toast in a research note on Wednesday, April 9th. They issued an "in-line" rating and a $29.00 price target on the stock. Twelve research analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the company's stock. Based on data from MarketBeat, the stock currently has an average rating of "Moderate Buy" and an average target price of $41.21.

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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