Moran Wealth Management LLC Makes New $1.19 Million Investment in Toast, Inc. $TOST

Moran Wealth Management LLC purchased a new position in shares of Toast, Inc. (NYSE:TOST) during the first quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund purchased 44,835 shares of the company’s stock, valued at approximately $1,189,000.

Several other hedge funds have also recently modified their holdings of the stock. Wynn Capital LLC boosted its stake in Toast by 2.1% in the 4th quarter. Wynn Capital LLC now owns 13,755 shares of the company’s stock worth $488,000 after purchasing an additional 280 shares in the last quarter. BOKF NA increased its stake in Toast by 4.5% during the 3rd quarter. BOKF NA now owns 8,023 shares of the company’s stock valued at $293,000 after purchasing an additional 345 shares in the last quarter. Fifth Third Wealth Advisors LLC raised its holdings in shares of Toast by 0.5% in the first quarter. Fifth Third Wealth Advisors LLC now owns 67,909 shares of the company’s stock worth $1,800,000 after buying an additional 358 shares during the last quarter. The Manufacturers Life Insurance Company lifted its stake in shares of Toast by 1.7% during the second quarter. The Manufacturers Life Insurance Company now owns 22,857 shares of the company’s stock worth $1,012,000 after buying an additional 380 shares during the period. Finally, Seven Mile Advisory grew its holdings in shares of Toast by 3.1% during the third quarter. Seven Mile Advisory now owns 12,689 shares of the company’s stock valued at $463,000 after buying an additional 381 shares during the last quarter. Institutional investors and hedge funds own 82.91% of the company’s stock.

Insider Buying and Selling at Toast

In related news, CFO Elena Gomez sold 11,605 shares of the stock in a transaction on Thursday, July 2nd. The shares were sold at an average price of $28.85, for a total transaction of $334,804.25. Following the sale, the chief financial officer directly owned 185,150 shares of the company’s stock, valued at approximately $5,341,577.50. This represents a 5.90% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, CEO Aman Narang sold 14,365 shares of the firm’s stock in a transaction on Thursday, July 2nd. The shares were sold at an average price of $28.85, for a total transaction of $414,430.25. Following the sale, the chief executive officer owned 70,451 shares in the company, valued at approximately $2,032,511.35. This represents a 16.94% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Over the last ninety days, insiders have sold 156,115 shares of company stock worth $4,184,238. 10.03% of the stock is currently owned by insiders.

Toast Price Performance

TOST stock traded up $0.34 during trading on Tuesday, hitting $29.82. 2,279,382 shares of the company traded hands, compared to its average volume of 12,010,634. Toast, Inc. has a 1 year low of $22.26 and a 1 year high of $49.66. The company has a market cap of $15.39 billion, a PE ratio of 45.80 and a beta of 1.74. The stock’s 50-day simple moving average is $25.67 and its 200 day simple moving average is $28.62.

Analyst Ratings Changes

A number of equities analysts recently issued reports on the company. UBS Group reduced their target price on Toast from $40.00 to $34.00 and set a “buy” rating for the company in a research note on Friday, May 8th. Weiss Ratings restated a “hold (c)” rating on shares of Toast in a research note on Wednesday, May 20th. Wall Street Zen lowered Toast from a “buy” rating to a “hold” rating in a research report on Saturday. Morgan Stanley set a $45.00 price target on shares of Toast in a report on Friday, May 8th. Finally, Rothschild & Co Redburn restated a “neutral” rating and set a $35.00 price objective on shares of Toast in a research note on Tuesday, May 12th. Two analysts have rated the stock with a Strong Buy rating, seventeen have given a Buy rating and eight have assigned a Hold rating to the company’s stock. According to MarketBeat, Toast has an average rating of “Moderate Buy” and a consensus target price of $37.62.

About Toast

Toast, Inc (NYSE: TOST) is a technology company that builds a cloud-based platform for restaurants and other foodservice businesses. Headquartered in Boston, Massachusetts, Toast offers integrated point-of-sale (POS) systems and a suite of software and hardware designed to streamline front-of-house and back-of-house operations. The company went public in 2021 and has positioned itself as a vertically integrated provider for the restaurant industry.

Toast’s product portfolio includes touchscreen POS terminals and handheld order-and-pay devices, kitchen display systems, and peripherals tailored for high-volume foodservice environments.