Manchester Capital Management LLC Purchases 1,285 Shares of Toast, Inc. (NYSE:TOST)

Manchester Capital Management LLC boosted its position in shares of Toast, Inc. (NYSE:TOST) by 97.9% during the 1st quarter, according to its most recent 13F filing with the SEC. The fund owned 2,598 shares of the company’s stock after purchasing an additional 1,285 shares during the quarter. Manchester Capital Management LLC’s holdings in Toast were worth $86,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also bought and sold shares of the company. Procyon Advisors LLC purchased a new stake in shares of Toast during the first quarter valued at $242,000. Wealth Enhancement Advisory Services LLC boosted its holdings in shares of Toast by 19.5% during the 4th quarter. Wealth Enhancement Advisory Services LLC now owns 22,751 shares of the company’s stock valued at $829,000 after acquiring an additional 3,713 shares during the last quarter. Yorktown Management & Research Co Inc bought a new stake in shares of Toast in the first quarter worth approximately $252,000. Principal Financial Group Inc. raised its holdings in shares of Toast by 14,258.8% during the first quarter. Principal Financial Group Inc. now owns 5,474,443 shares of the company’s stock valued at $181,587,000 after purchasing an additional 5,436,317 shares during the last quarter. Finally, BNP Paribas Financial Markets bought a new position in Toast during the fourth quarter valued at approximately $83,684,000. 82.91% of the stock is currently owned by institutional investors.

Toast Price Performance

NYSE:TOST opened at $49.40 on Tuesday. The company has a market cap of $24.60 billion, a price-to-earnings ratio of 214.78 and a beta of 2.01. Toast, Inc. has a 1 year low of $22.10 and a 1 year high of $49.56. The stock’s 50 day simple moving average is $44.42 and its two-hundred day simple moving average is $39.79.

Wall Street Analysts Forecast Growth

Several equities research analysts recently issued reports on TOST shares. Barclays reaffirmed an “overweight” rating on shares of Toast in a research report on Wednesday, July 16th. Evercore ISI started coverage on Toast in a report on Wednesday, April 9th. They issued an “in-line” rating and a $29.00 price objective for the company. Truist Financial upped their price objective on Toast from $48.00 to $50.00 and gave the company a “buy” rating in a research report on Thursday, July 17th. Deutsche Bank Aktiengesellschaft assumed coverage on Toast in a research report on Thursday, July 17th. They issued a “buy” rating and a $54.00 target price on the stock. Finally, DA Davidson upped their price target on shares of Toast from $40.00 to $46.00 and gave the company a “neutral” rating in a research report on Tuesday, July 29th. Twelve equities research analysts have rated the stock with a hold rating and fifteen have given a buy rating to the stock. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $43.42.

Insider Transactions at Toast

In other news, CFO Elena Gomez sold 34,170 shares of the business’s stock in a transaction dated Wednesday, July 2nd. The shares were sold at an average price of $42.56, for a total value 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. The trade was a 19.69% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, CEO Aman Narang sold 13,829 shares of the company’s stock in a transaction dated Wednesday, July 2nd. The shares were sold at an average price of $42.59, for a total transaction of $588,977.11. Following the sale, the chief executive officer owned 302,498 shares in the company, valued at $12,883,389.82. This represents a 4.37% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 466,131 shares of company stock valued at $20,048,851 in the last 90 days. Company insiders own 13.32% of the company’s stock.

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.