Envestnet Asset Management Inc. Purchases 54,093 Shares of Toast, Inc. (NYSE:TOST)

Envestnet Asset Management Inc. lifted its position in Toast, Inc. (NYSE:TOST) by 17.1% in the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 369,803 shares of the company’s stock after buying an additional 54,093 shares during the quarter. Envestnet Asset Management Inc. owned about 0.07% of Toast worth $12,266,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also 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 lifted its position in Toast by 57.1% during the first quarter. Piscataqua Savings Bank now owns 1,100 shares of the company’s stock worth $36,000 after purchasing an additional 400 shares during the period. West Branch Capital LLC grew its stake in Toast by 862.1% during the first quarter. West Branch Capital LLC now owns 1,116 shares of the company’s stock worth $37,000 after buying an additional 1,000 shares in the last quarter. Proathlete Wealth Management LLC bought a new position in Toast in the 1st quarter valued at about $50,000. Finally, LRI Investments LLC raised its position in shares of Toast by 51.6% in the 4th quarter. LRI Investments LLC now owns 1,516 shares of the company’s stock valued at $55,000 after buying an additional 516 shares in the last quarter. 82.91% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

TOST has been the subject of several recent research reports. Evercore ISI initiated coverage on shares of Toast in a research report on Wednesday, April 9th. They issued an “in-line” rating and a $29.00 price target for the company. Barclays reaffirmed an “overweight” rating on shares of Toast in a research note on Wednesday. Wall Street Zen lowered shares of Toast from a “buy” rating to a “hold” rating in a research note on Saturday, July 5th. Deutsche Bank Aktiengesellschaft initiated coverage on shares of Toast in a research note on Thursday. They issued a “buy” rating and a $54.00 price objective on the stock. Finally, Wells Fargo & Company initiated coverage on shares of Toast in a research note on Wednesday. They issued a “buy” rating on the stock. Twelve analysts have rated the stock with a hold rating and fifteen have issued a buy rating to the company’s stock. According to data from MarketBeat, Toast currently has a consensus rating of “Moderate Buy” and a consensus price target of $43.17.

Insider Transactions at Toast

In related news, Director Christopher P. Comparato sold 70,000 shares of the business’s stock in a transaction that occurred on Wednesday, May 14th. The stock was sold at an average price of $44.74, for a total value of $3,131,800.00. Following the completion of the transaction, the director directly owned 187,140 shares in the company, valued at approximately $8,372,643.60. The trade was a 27.22% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CFO Elena Gomez sold 34,170 shares of the company’s stock in a transaction dated 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 transaction, the chief financial officer directly owned 139,357 shares of the company’s stock, valued at $5,931,033.92. This represents a 19.69% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders sold 466,131 shares of company stock worth $20,048,851. Corporate insiders own 13.32% of the company’s stock.

Toast Trading Down 0.1%

TOST stock opened at $46.56 on Friday. Toast, Inc. has a 1-year low of $22.10 and a 1-year high of $47.50. The business’s 50 day moving average is $43.43 and its 200-day moving average is $38.90. The firm has a market cap of $23.19 billion, a P/E ratio of 202.43 and a beta of 2.00.

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.