Xcel Wealth Management LLC Makes New Investment in Toast, Inc. (NYSE:TOST)

Xcel Wealth Management LLC bought a new stake in shares of Toast, Inc. (NYSE:TOST) in the 1st quarter, Holdings Channel reports. The firm bought 74,307 shares of the company’s stock, valued at approximately $2,465,000.

Other hedge funds have also recently modified their holdings of the company. Vanguard Group Inc. boosted its holdings in Toast by 10.8% during the 4th quarter. Vanguard Group Inc. now owns 42,474,232 shares of the company’s stock valued at $1,548,186,000 after acquiring an additional 4,147,430 shares during the period. Capital International Investors lifted its holdings in Toast by 1.9% during the 4th quarter. Capital International Investors now owns 41,961,233 shares of the company’s stock valued at $1,529,657,000 after buying an additional 785,641 shares in the last quarter. FMR LLC boosted its position in Toast by 22.1% in the 4th 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 period. Arrowstreet Capital Limited Partnership bought a new stake in shares of Toast during the fourth quarter valued at approximately $282,010,000. Finally, Geode Capital Management LLC boosted its holdings in shares of Toast by 2.9% in the fourth quarter. Geode Capital Management LLC now owns 7,061,739 shares of the company’s stock valued at $256,970,000 after purchasing an additional 195,805 shares during the period. Institutional investors own 82.91% of the company’s stock.

Insider Activity

In other news, Director Christopher P. Comparato sold 70,000 shares of Toast stock in a transaction on Wednesday, May 14th. The shares were sold at an average price of $44.74, for a total transaction of $3,131,800.00. Following the completion of the sale, 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 ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, General Counsel Brian R. Elworthy sold 300,000 shares of the company’s stock in a transaction on 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 completion of the transaction, the general counsel directly owned 216,156 shares in the company, valued at approximately $9,208,245.60. The trade was a 58.12% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 468,212 shares of company stock valued at $19,551,906. 13.32% of the stock is owned by company insiders.

Toast Stock Performance

Toast stock opened at $42.54 on Thursday. The stock has a market cap of $21.18 billion, a PE ratio of 184.96 and a beta of 2.00. The stock has a 50-day moving average of $41.42 and a two-hundred day moving average of $38.30. Toast, Inc. has a one year low of $22.10 and a one year high of $45.56.

Wall Street Analyst Weigh In

Several research analysts have commented on the company. DA Davidson reduced their price objective on Toast from $42.00 to $40.00 and set a “neutral” rating on the stock in a report on Wednesday, April 30th. BMO Capital Markets raised their price target on Toast from $44.00 to $45.00 and gave the company an “outperform” rating in a research note on Monday, May 12th. Truist Financial began coverage on Toast in a report on Monday, June 2nd. They issued a “buy” rating and a $48.00 price objective for the company. Wall Street Zen cut shares of Toast from a “strong-buy” rating to a “buy” rating in a report on Sunday, June 1st. Finally, Piper Sandler raised their target price on shares of Toast from $35.00 to $37.00 and gave the company a “neutral” rating in a research report on Friday, May 9th. Twelve research analysts have rated the stock with a hold rating and thirteen have given a buy rating to the stock. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus price target 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.