Eurizon Capital SGR S.p.A. bought a new stake in Toast, Inc. (NYSE:TOST – Free Report) during the fourth quarter, according to its most recent disclosure with the SEC. The firm bought 77,564 shares of the company’s stock, valued at approximately $2,758,000.
A number of other hedge funds have also recently modified their holdings of TOST. Alliancebernstein L.P. grew its position in shares of Toast by 2,432.8% in the 3rd quarter. Alliancebernstein L.P. now owns 8,215,758 shares of the company’s stock valued at $299,957,000 after buying an additional 7,891,383 shares during the last quarter. ValueAct Holdings L.P. purchased a new position in shares of Toast in the 3rd quarter valued at $124,032,000. Capital International Investors grew its position in shares of Toast by 7.4% in the 3rd quarter. Capital International Investors now owns 48,428,060 shares of the company’s stock valued at $1,768,256,000 after buying an additional 3,351,545 shares during the last quarter. Worldquant Millennium Advisors LLC grew its position in Toast by 343.6% during the 2nd quarter. Worldquant Millennium Advisors LLC now owns 1,792,209 shares of the company’s stock worth $79,377,000 after purchasing an additional 1,388,210 shares during the last quarter. Finally, Nordea Investment Management AB grew its position in Toast by 843.0% during the 4th quarter. Nordea Investment Management AB now owns 1,307,158 shares of the company’s stock worth $46,888,000 after purchasing an additional 1,168,539 shares during the last quarter. 82.91% of the stock is owned by hedge funds and other institutional investors.
Toast Stock Performance
TOST stock opened at $26.40 on Wednesday. Toast, Inc. has a one year low of $22.26 and a one year high of $49.66. The stock has a market capitalization of $13.62 billion, a PE ratio of 40.61 and a beta of 1.76. The company has a fifty day moving average of $26.28 and a 200-day moving average of $30.16.
Insider Buying and Selling
In other news, CRO Jonathan Vassil sold 6,438 shares of the firm’s stock in a transaction on Thursday, April 2nd. The shares were sold at an average price of $26.19, for a total value of $168,611.22. Following the completion of the sale, the executive owned 146,618 shares in the company, valued at approximately $3,839,925.42. This trade represents a 4.21% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, President Stephen Fredette sold 7,289 shares of the firm’s stock in a transaction on Thursday, April 2nd. The stock was sold at an average price of $26.19, for a total transaction of $190,898.91. Following the completion of the sale, the president owned 920,985 shares of the company’s stock, valued at $24,120,597.15. This trade represents a 0.79% decrease in their position. The disclosure for this sale is available in the SEC filing. In the last three months, insiders have sold 147,783 shares of company stock worth $3,838,037. 10.03% of the stock is currently owned by insiders.
Wall Street Analyst Weigh In
Several research analysts have issued reports on the stock. UBS Group lowered their price objective on shares of Toast from $40.00 to $34.00 and set a “buy” rating on the stock in a research report on Friday, May 8th. Morgan Stanley set a $45.00 price objective on shares of Toast in a research report on Friday, May 8th. Truist Financial lowered their price objective on shares of Toast from $36.00 to $30.00 and set a “buy” rating on the stock in a research report on Tuesday, May 12th. Jefferies Financial Group set a $35.00 price objective on shares of Toast in a research report on Friday, February 13th. Finally, Needham & Company LLC lowered their price objective on shares of Toast from $60.00 to $35.00 and set a “buy” rating on the stock in a research report on Friday, February 13th. One analyst has rated the stock with a Strong Buy rating, seventeen have assigned a Buy rating and eight have issued a Hold rating to the company’s stock. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average target price of $37.84.
Read Our Latest Stock Analysis on TOST
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.
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