Ellerson Group Inc. ADV Takes $3.27 Million Position in Toast, Inc. $TOST

Ellerson Group Inc. ADV purchased a new stake in Toast, Inc. (NYSE:TOST) in the first quarter, Holdings Channel reports. The firm purchased 123,280 shares of the company’s stock, valued at approximately $3,268,000. Toast accounts for 2.1% of Ellerson Group Inc. ADV’s holdings, making the stock its 21st largest position.

Other hedge funds and other institutional investors also recently bought and sold shares of the company. Bleakley Financial Group LLC bought a new stake in Toast during the 1st quarter valued at $2,405,000. Principal Financial Group Inc. grew its position in shares of Toast by 36.0% during the 1st quarter. Principal Financial Group Inc. now owns 7,977,244 shares of the company’s stock worth $211,478,000 after buying an additional 2,111,009 shares in the last quarter. J. Safra Sarasin Holding AG grew its position in shares of Toast by 20.3% during the 1st quarter. J. Safra Sarasin Holding AG now owns 12,782 shares of the company’s stock worth $338,000 after buying an additional 2,154 shares in the last quarter. International Assets Investment Management LLC increased its stake in shares of Toast by 48.9% during the first quarter. International Assets Investment Management LLC now owns 6,481 shares of the company’s stock valued at $169,000 after buying an additional 2,129 shares during the period. Finally, Gables Capital Management Inc. purchased a new position in shares of Toast during the first quarter valued at $58,000. Institutional investors own 82.91% of the company’s stock.

Insider Activity

In related news, CEO Aman Narang sold 14,365 shares of the business’s stock in a transaction that occurred on Thursday, July 2nd. The shares were sold at an average price of $28.85, for a total transaction of $414,430.25. Following the completion of the transaction, the chief executive officer owned 70,451 shares in the company, valued at $2,032,511.35. The trade was a 16.94% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, President Stephen Fredette sold 9,146 shares of the firm’s stock in a transaction that occurred on Thursday, July 2nd. The shares were sold at an average price of $28.85, for a total transaction of $263,862.10. Following the completion of the sale, the president owned 931,449 shares of the company’s stock, valued at approximately $26,872,303.65. This trade represents a 0.97% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Insiders have sold a total of 159,265 shares of company stock worth $4,278,832 over the last 90 days. 10.03% of the stock is currently owned by insiders.

Toast Stock Performance

TOST stock opened at $30.04 on Wednesday. Toast, Inc. has a one year low of $22.26 and a one year high of $49.66. The firm has a market cap of $15.50 billion, a price-to-earnings ratio of 46.21 and a beta of 1.74. The firm has a 50-day simple moving average of $25.75 and a two-hundred day simple moving average of $28.33.

Analyst Upgrades and Downgrades

A number of analysts recently weighed in on TOST shares. Zacks Research lowered shares of Toast from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, July 7th. Oppenheimer reissued an “outperform” rating and set a $36.00 target price on shares of Toast in a research report on Friday, May 8th. Robert W. Baird boosted their price target on shares of Toast from $30.00 to $33.00 and gave the company a “neutral” rating in a report on Wednesday, July 8th. Rothschild & Co Redburn reaffirmed a “neutral” rating and issued a $35.00 price target on shares of Toast in a research report on Tuesday, May 12th. Finally, The Goldman Sachs Group upgraded shares of Toast from a “neutral” rating to a “buy” rating and set a $36.00 price objective on the stock in a research note on Thursday, July 9th. Two analysts have rated the stock with a Strong Buy rating, seventeen have issued a Buy rating and eight have given a Hold rating to the company’s stock. According to MarketBeat.com, Toast currently has a consensus rating of “Moderate Buy” and an average target price of $37.59.

Toast Company Profile

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.