Toast, Inc. (NYSE:TOST) Shares Sold by Capital Investment Counsel Inc

Capital Investment Counsel Inc decreased its position in shares of Toast, Inc. (NYSE:TOST - Free Report) by 50.3% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 18,800 shares of the company's stock after selling 19,000 shares during the period. Capital Investment Counsel Inc's holdings in Toast were worth $624,000 at the end of the most recent reporting period.

Other large investors also recently modified their holdings of the company. Arrowstreet Capital Limited Partnership acquired a new position in Toast during the 4th quarter worth $282,010,000. Norges Bank acquired a new position in Toast in the fourth quarter worth about $205,888,000. FMR LLC increased its holdings in Toast by 22.1% in the fourth 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 during the last quarter. Vanguard Group Inc. raised 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 valued at $1,548,186,000 after buying an additional 4,147,430 shares in the last quarter. Finally, Voloridge Investment Management LLC lifted its holdings in Toast by 898.8% during the 4th quarter. Voloridge Investment Management LLC now owns 2,858,720 shares of the company's stock worth $104,200,000 after buying an additional 2,572,503 shares during the last quarter. 82.91% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling

In other Toast news, General Counsel Brian R. Elworthy sold 300,000 shares of the firm's stock in a transaction dated Monday, June 2nd. The stock was sold at an average price of $42.60, for a total transaction of $12,780,000.00. Following the transaction, the general counsel directly owned 216,156 shares in the company, valued at $9,208,245.60. This trade represents a 58.12% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Christopher P. Comparato sold 70,000 shares of the stock in a transaction dated Wednesday, May 14th. The shares were sold at an average price of $44.74, for a total value of $3,131,800.00. Following the transaction, the director directly owned 187,140 shares in the company, valued at approximately $8,372,643.60. This represents a 27.22% decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 468,212 shares of company stock worth $19,551,906. Insiders own 13.32% of the company's stock.

Wall Street Analysts Forecast Growth

A number of research firms have commented on TOST. Evercore ISI initiated coverage on shares of Toast in a report on Wednesday, April 9th. They issued an "in-line" rating and a $29.00 price objective for the company. Truist Financial initiated 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. Wolfe Research upgraded Toast from a "peer perform" rating to an "outperform" rating and set a $44.00 price objective for the company in a research report on Wednesday, April 23rd. DA Davidson dropped their target price on Toast from $42.00 to $40.00 and set a "neutral" rating on the stock in a research report on Wednesday, April 30th. Finally, Wall Street Zen lowered shares of Toast from a "strong-buy" rating to a "buy" rating in a research note on Sunday, June 1st. Twelve equities research analysts have rated the stock with a hold rating and thirteen have given a buy rating to the company. According to data from MarketBeat, the stock has a consensus rating of "Moderate Buy" and a consensus target price of $41.21.

Toast Trading Down 1.1%

NYSE TOST opened at $42.54 on Thursday. Toast, Inc. has a 1-year low of $22.10 and a 1-year high of $45.56. The firm's fifty day simple moving average is $41.42 and its 200-day simple moving average is $38.30. The company has a market capitalization of $21.18 billion, a PE ratio of 184.96 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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.