Pier 88 Investment Partners LLC Has $1.14 Million Position in Toast, Inc. (NYSE:TOST)

Pier 88 Investment Partners LLC lessened its position in Toast, Inc. (NYSE:TOST - Free Report) by 22.7% during the 1st quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 34,460 shares of the company's stock after selling 10,130 shares during the period. Pier 88 Investment Partners LLC's holdings in Toast were worth $1,143,000 as of its most recent filing with the SEC.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Wayfinding Financial LLC bought a new stake in shares of Toast during the 1st quarter valued at $34,000. Piscataqua Savings Bank increased 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 acquiring an additional 400 shares during the last quarter. West Branch Capital LLC increased its stake in shares of Toast by 862.1% in the 1st quarter. West Branch Capital LLC now owns 1,116 shares of the company's stock valued at $37,000 after acquiring an additional 1,000 shares during the last quarter. SBI Securities Co. Ltd. increased its stake in shares of Toast by 29.2% in the 1st quarter. SBI Securities Co. Ltd. now owns 1,257 shares of the company's stock valued at $42,000 after acquiring an additional 284 shares during the last quarter. Finally, Signaturefd LLC increased its stake in shares of Toast by 227.1% in the 1st quarter. Signaturefd LLC now owns 1,472 shares of the company's stock valued at $49,000 after acquiring an additional 1,022 shares during the last quarter. Institutional investors and hedge funds own 82.91% of the company's stock.

Analyst Ratings Changes

A number of brokerages have recently commented on TOST. BMO Capital Markets upped their price target on Toast from $44.00 to $45.00 and gave the company an "outperform" rating in a research note on Monday, May 12th. Evercore ISI initiated coverage on Toast in a research note on Wednesday, April 9th. They issued an "in-line" rating and a $29.00 price target for the company. Barclays reissued an "overweight" rating on shares of Toast in a research note on Wednesday, July 16th. DA Davidson reduced their price target on Toast from $42.00 to $40.00 and set a "neutral" rating for the company in a research report on Wednesday, April 30th. Finally, Wells Fargo & Company initiated coverage on Toast in a research report on Wednesday, July 16th. They set a "buy" rating for the company. Twelve research analysts have rated the stock with a hold rating and fifteen have assigned a buy rating to the stock. Based on data from MarketBeat, Toast presently has a consensus rating of "Moderate Buy" and an average price target of $43.17.

Toast Stock Down 0.6%

TOST traded down $0.30 during trading on Tuesday, hitting $47.01. The company's stock had a trading volume of 2,595,014 shares, compared to its average volume of 6,818,684. The firm has a market capitalization of $23.41 billion, a P/E ratio of 203.76 and a beta of 2.00. Toast, Inc. has a twelve month low of $22.10 and a twelve month high of $48.35. The stock's fifty day moving average price is $43.43 and its 200-day moving average price is $38.92.

Insider Buying and Selling at Toast

In other Toast news, CFO Elena Gomez sold 34,170 shares of the company'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 transaction, the chief financial officer owned 139,357 shares in the company, valued at $5,931,033.92. This represents a 19.69% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, CRO Jonathan Vassil sold 6,592 shares of the company's stock in a transaction 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 transaction, the executive owned 61,791 shares of the company's stock, valued at $2,631,678.69. This trade represents a 9.64% decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 466,131 shares of company stock valued at $20,048,851 in the last three months. Insiders own 13.32% of the company's stock.

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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