Pinnacle Private Wealth LLC decreased its holdings in Toast, Inc. (NYSE:TOST – Get Rating) by 9.9% in the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 87,050 shares of the company’s stock after selling 9,550 shares during the quarter. Pinnacle Private Wealth LLC’s holdings in Toast were worth $1,126,000 at the end of the most recent quarter.
Several other institutional investors and hedge funds have also recently bought and sold shares of TOST. Captrust Financial Advisors raised its position in Toast by 44.8% during the 1st quarter. Captrust Financial Advisors now owns 4,866 shares of the company’s stock worth $106,000 after buying an additional 1,505 shares during the last quarter. SG3 Management LLC acquired a new stake in Toast in the 4th quarter valued at about $174,000. Clearstead Advisors LLC grew its stake in Toast by 11,906.0% in the 4th quarter. Clearstead Advisors LLC now owns 6,003 shares of the company’s stock valued at $208,000 after acquiring an additional 5,953 shares during the last quarter. Ellevest Inc. acquired a new stake in Toast in the 1st quarter valued at about $142,000. Finally, Raymond James Financial Services Advisors Inc. acquired a new stake in Toast in the 4th quarter valued at about $241,000. Hedge funds and other institutional investors own 45.65% of the company’s stock.
Insiders Place Their Bets
In other Toast news, major shareholder Technology Investment Dining G sold 341,156 shares of Toast stock in a transaction on Monday, June 27th. The shares were sold at an average price of $14.72, for a total value of $5,021,816.32. Following the completion of the transaction, the insider now owns 8,618,317 shares of the company’s stock, valued at $126,861,626.24. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. In other Toast news, major shareholder Technology Investment Dining G sold 341,156 shares of the firm’s stock in a transaction on Monday, June 27th. The stock was sold at an average price of $14.72, for a total value of $5,021,816.32. Following the sale, the insider now directly owns 8,618,317 shares in the company, valued at $126,861,626.24. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, Director Mark J. Hawkins sold 52,790 shares of the firm’s stock in a transaction on Tuesday, September 13th. The shares were sold at an average price of $20.82, for a total value of $1,099,087.80. Following the completion of the sale, the director now owns 64,007 shares in the company, valued at $1,332,625.74. The disclosure for this sale can be found here. Insiders sold a total of 2,897,693 shares of company stock valued at $44,775,447 over the last 90 days. 20.16% of the stock is owned by company insiders.
Toast Trading Down 0.6 %
Analyst Upgrades and Downgrades
A number of equities research analysts recently commented on the stock. Piper Sandler increased their price objective on shares of Toast from $22.00 to $26.00 and gave the company an “overweight” rating in a research note on Friday, August 12th. Wells Fargo & Company decreased their price target on shares of Toast from $27.00 to $23.00 and set an “overweight” rating on the stock in a research note on Thursday, September 8th. UBS Group assumed coverage on shares of Toast in a research note on Wednesday, September 14th. They set a “neutral” rating and a $22.00 price target on the stock. The Goldman Sachs Group increased their price objective on shares of Toast to $23.00 in a report on Monday, August 15th. Finally, KeyCorp increased their price objective on shares of Toast from $18.00 to $25.00 and gave the stock an “overweight” rating in a report on Friday, August 12th. One research analyst has rated the stock with a sell rating, seven have assigned a hold rating and nine have given a buy rating to the company’s stock. According to data from MarketBeat, the stock has a consensus rating of “Hold” and an average target price of $29.59.
Toast, Inc operates a cloud-based and digital technology platform for the restaurant industry in the United States and Ireland. The company offers Toast Point of Sale (POS), a hardware product; Toast Order & Pay, which allows guests to order and pay from their mobile devices; Toast Flex that is used for on-counter order and pay, as well as used as a server station, guest kiosk, kitchen display system, or order fulfillment station; Toast Go, a handheld POS device that enhances the table turn times through tableside ordering and payment acceptance; and Toast Tap, a card reader.
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