Janney Montgomery Scott LLC Acquires 35,013 Shares of Toast, Inc. $TOST

Janney Montgomery Scott LLC boosted its holdings in shares of Toast, Inc. (NYSE:TOST) by 7.1% in the first quarter, according to its most recent filing with the SEC. The firm owned 524,792 shares of the company’s stock after acquiring an additional 35,013 shares during the period. Janney Montgomery Scott LLC owned 0.10% of Toast worth $13,912,000 as of its most recent filing with the SEC.

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

Toast Price Performance

NYSE TOST opened at $28.69 on Thursday. The firm has a market cap of $14.80 billion, a P/E ratio of 44.13 and a beta of 1.74. The stock’s 50-day moving average is $25.65 and its 200-day moving average is $28.75. Toast, Inc. has a one year low of $22.26 and a one year high of $49.66.

Insider Activity

In related news, General Counsel Brian R. Elworthy sold 108,000 shares of the stock in a transaction that occurred on Friday, May 29th. The stock was sold at an average price of $25.89, for a total transaction of $2,796,120.00. Following the completion of the sale, the general counsel directly owned 189,642 shares of the company’s stock, valued at approximately $4,909,831.38. This represents a 36.29% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Corporate insiders own 10.03% of the company’s stock.

Analyst Ratings Changes

Several research firms have recently issued reports on TOST. UBS Group decreased their target price on Toast from $40.00 to $34.00 and set a “buy” rating for the company in a research report on Friday, May 8th. Mizuho reduced their price objective on shares of Toast from $45.00 to $38.00 and set an “outperform” rating on the stock in a research note on Tuesday, May 12th. Weiss Ratings reissued a “hold (c)” rating on shares of Toast in a research note on Wednesday, May 20th. BMO Capital Markets restated an “outperform” rating on shares of Toast in a report on Monday, June 1st. Finally, Truist Financial lowered their target price on shares of Toast from $36.00 to $30.00 and set a “buy” rating for the company in a research note on Tuesday, May 12th. Two equities research analysts have rated the stock with a Strong Buy rating, seventeen have given a Buy rating and eight have given a Hold rating to the company’s stock. According to MarketBeat, Toast presently has a consensus rating of “Moderate Buy” and an average price target 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.