Toast, Inc. (NYSE:TOST) Shares Sold by Riverbridge Partners LLC

Riverbridge Partners LLC decreased its stake in Toast, Inc. (NYSE:TOST - Free Report) by 9.8% in the 1st quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 1,173,433 shares of the company's stock after selling 127,482 shares during the period. Riverbridge Partners LLC owned approximately 0.24% of Toast worth $38,923,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently made changes to their positions in the stock. CWA Asset Management Group LLC acquired a new stake in shares of Toast in the first quarter valued at about $226,000. Chicago Capital LLC lifted its stake in shares of Toast by 84.0% in the first quarter. Chicago Capital LLC now owns 15,999 shares of the company's stock valued at $531,000 after purchasing an additional 7,306 shares during the period. QRG Capital Management Inc. lifted its stake in shares of Toast by 4.6% in the first quarter. QRG Capital Management Inc. now owns 101,916 shares of the company's stock valued at $3,381,000 after purchasing an additional 4,481 shares during the period. Janney Montgomery Scott LLC lifted its stake in shares of Toast by 554.9% in the first quarter. Janney Montgomery Scott LLC now owns 255,191 shares of the company's stock valued at $8,465,000 after purchasing an additional 216,227 shares during the period. Finally, Fairvoy Private Wealth LLC raised its position in Toast by 10.3% during the first quarter. Fairvoy Private Wealth LLC now owns 29,142 shares of the company's stock worth $967,000 after acquiring an additional 2,731 shares during the last quarter. Institutional investors and hedge funds own 82.91% of the company's stock.

Insider Activity at Toast

In other news, Director Susan Chapman-Hughes sold 7,500 shares of the business's stock in a transaction on Friday, June 6th. The shares were sold at an average price of $44.00, for a total transaction of $330,000.00. Following the transaction, the director now directly owns 23,030 shares of the company's stock, valued at approximately $1,013,320. The trade was a 24.57% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, Director Richard Kent Bennett sold 9,712 shares of the business's stock in a transaction on Tuesday, June 10th. The stock was sold at an average price of $43.14, for a total transaction of $418,975.68. Following the transaction, the director now directly owns 534,167 shares in the company, valued at approximately $23,043,964.38. The trade was a 1.79% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders sold 468,212 shares of company stock worth $19,551,906. 13.32% of the stock is owned by company insiders.

Toast Stock Performance

Toast stock opened at $42.59 on Friday. Toast, Inc. has a 1 year low of $22.10 and a 1 year high of $45.56. The firm has a 50 day moving average price of $39.83 and a 200 day moving average price of $38.04. The company has a market cap of $21.21 billion, a price-to-earnings ratio of 185.18 and a beta of 2.02.

Wall Street Analysts Forecast Growth

A number of equities analysts have issued reports on TOST shares. Needham & Company LLC restated a "buy" rating and set a $50.00 target price on shares of Toast in a research report on Thursday, February 20th. DA Davidson cut their target price on shares of Toast from $42.00 to $40.00 and set a "neutral" rating for the company in a research report on Wednesday, April 30th. Morgan Stanley lifted their target price on shares of Toast from $46.00 to $50.00 and gave the stock an "overweight" rating in a research report on Friday, May 9th. Wells Fargo & Company lifted their target price on shares of Toast from $39.00 to $46.00 and gave the stock an "overweight" rating in a research report on Friday, May 9th. Finally, Wolfe Research upgraded shares of 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. Twelve investment analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the company. According to MarketBeat, Toast currently has a consensus rating of "Moderate Buy" and a consensus price target of $41.21.

Toast Company 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.