Stratos Wealth Partners LTD. Trims Stock Holdings in Toast, Inc. (NYSE:TOST)

Stratos Wealth Partners LTD. lessened its holdings in Toast, Inc. (NYSE:TOST) by 18.9% in the 1st quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 6,863 shares of the company’s stock after selling 1,599 shares during the period. Stratos Wealth Partners LTD.’s holdings in Toast were worth $228,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Keel Point LLC raised its position in shares of Toast by 2.7% during the 4th quarter. Keel Point LLC now owns 12,269 shares of the company’s stock valued at $447,000 after buying an additional 326 shares during the period. Piscataqua Savings Bank lifted its position in Toast by 57.1% in the first quarter. Piscataqua Savings Bank now owns 1,100 shares of the company’s stock valued at $36,000 after purchasing an additional 400 shares during the period. Farther Finance Advisors LLC lifted its position in Toast by 19.8% in the fourth quarter. Farther Finance Advisors LLC now owns 2,435 shares of the company’s stock valued at $89,000 after purchasing an additional 402 shares during the period. Legacy Advisors LLC increased its holdings in Toast by 1.7% in the first quarter. Legacy Advisors LLC now owns 26,318 shares of the company’s stock valued at $873,000 after buying an additional 438 shares in the last quarter. Finally, Garde Capital Inc. raised its position in shares of Toast by 13.4% during the 1st quarter. Garde Capital Inc. now owns 3,812 shares of the company’s stock worth $126,000 after purchasing an additional 450 shares during the last quarter. Hedge funds and other institutional investors own 82.91% of the company’s stock.

Insider Buying and Selling at Toast

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 shares were sold at an average price of $42.60, for a total value of $12,780,000.00. Following the transaction, the general counsel directly owned 216,156 shares of the company’s stock, valued at $9,208,245.60. This trade represents a 58.12% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CFO Elena Gomez sold 34,170 shares of Toast stock in a transaction that occurred on Wednesday, July 2nd. The shares were sold at an average price of $42.56, for a total transaction of $1,454,275.20. Following the sale, the chief financial officer directly owned 139,357 shares in the company, valued at $5,931,033.92. This trade represents a 19.69% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 466,131 shares of company stock valued at $20,048,851 in the last quarter. Company insiders own 13.32% of the company’s stock.

Toast Stock Performance

NYSE TOST opened at $45.13 on Thursday. The firm has a 50-day moving average of $43.11 and a 200-day moving average of $38.75. The stock has a market cap of $22.48 billion, a PE ratio of 196.23 and a beta of 2.00. Toast, Inc. has a 52-week low of $22.10 and a 52-week high of $46.57.

Wall Street Analysts Forecast Growth

TOST has been the subject of several research reports. Citigroup reissued a “buy” rating on shares of Toast in a research note on Wednesday. Barclays restated an “overweight” rating on shares of Toast in a research report on Wednesday. BMO Capital Markets increased their target price on shares of Toast from $44.00 to $45.00 and gave the company an “outperform” rating in a research note on Monday, May 12th. Evercore ISI assumed coverage on shares of Toast in a research report on Wednesday, April 9th. They issued an “in-line” rating and a $29.00 target price for the company. Finally, Truist Financial assumed coverage on shares of Toast in a report on Monday, June 2nd. They set a “buy” rating and a $48.00 price target on the stock. Thirteen research analysts have rated the stock with a hold rating and fourteen have given a buy rating to the stock. According to MarketBeat, Toast has a consensus rating of “Moderate Buy” and an average target price of $41.21.

About Toast

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.