Pallas Capital Advisors LLC Invests $816,000 in Toast, Inc. (NYSE:TOST)

Pallas Capital Advisors LLC purchased a new stake in Toast, Inc. (NYSE:TOST) in the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund purchased 24,613 shares of the company’s stock, valued at approximately $816,000.

Other institutional investors have also added to or reduced their stakes in the company. Blue Trust Inc. lifted its position in shares of Toast by 120.4% during the 4th quarter. Blue Trust Inc. now owns 692 shares of the company’s stock valued at $25,000 after acquiring an additional 378 shares during the period. Stonebridge Financial Group LLC acquired a new position in Toast in the 4th quarter worth about $34,000. SBI Securities Co. Ltd. acquired a new position in Toast in the 4th quarter worth about $35,000. Piscataqua Savings Bank increased its stake in shares of Toast by 57.1% in the first quarter. Piscataqua Savings Bank now owns 1,100 shares of the company’s stock valued at $36,000 after buying an additional 400 shares during the period. Finally, Wingate Wealth Advisors Inc. acquired a new stake in shares of Toast in the fourth quarter valued at about $40,000. 82.91% of the stock is currently owned by institutional investors.

Insider Activity at Toast

In other Toast news, Director Deval L. Patrick sold 34,222 shares of the stock in a transaction on Thursday, March 13th. The stock was sold at an average price of $33.01, for a total value of $1,129,668.22. Following the completion of the transaction, the director now owns 13,260 shares in the company, valued at approximately $437,712.60. This represents a 72.07% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Richard Kent Bennett sold 9,712 shares of the stock in a transaction on Tuesday, June 10th. The stock was sold at an average price of $43.14, for a total value of $418,975.68. Following the completion of the sale, the director now directly owns 534,167 shares in the company, valued at approximately $23,043,964.38. This represents a 1.79% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 663,563 shares of company stock worth $26,378,809 over the last quarter. 13.32% of the stock is owned by corporate insiders.

Analyst Upgrades and Downgrades

Several research analysts have issued reports on TOST shares. UBS Group increased their price target on Toast from $41.00 to $47.00 and gave the stock a “buy” rating in a report on Thursday, February 20th. The Goldman Sachs Group reduced their target price on Toast from $43.00 to $38.00 and set a “neutral” rating for the company in a report on Wednesday, April 2nd. Wall Street Zen lowered Toast from a “strong-buy” rating to a “buy” rating in a report on Sunday, June 1st. BNP Paribas set a $37.00 price objective on shares of Toast and gave the stock a “neutral” rating in a research report on Wednesday, February 19th. Finally, Wells Fargo & Company upped their target price on Toast from $39.00 to $46.00 and gave the stock an “overweight” rating in a research note on Friday, May 9th. Twelve analysts have rated the stock with a hold rating and thirteen have given a buy rating to the company. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus price target of $41.21.

Toast Stock Down 0.2%

Shares of Toast stock opened at $43.37 on Wednesday. The company has a market cap of $21.60 billion, a PE ratio of -4,332.57, a P/E/G ratio of 2.16 and a beta of 2.02. The business has a 50 day moving average of $38.34 and a 200 day moving average of $38.03. Toast, Inc. has a 52 week low of $21.32 and a 52 week high of $45.56.

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.