National Pension Service Acquires 19,714 Shares of Toast, Inc. $TOST

National Pension Service grew its holdings in Toast, Inc. (NYSE:TOSTFree Report) by 184.4% during the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 30,403 shares of the company’s stock after purchasing an additional 19,714 shares during the period. National Pension Service’s holdings in Toast were worth $1,080,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently modified their holdings of TOST. Central Pacific Bank Trust Division raised its position in shares of Toast by 123.5% in the fourth quarter. Central Pacific Bank Trust Division now owns 943 shares of the company’s stock valued at $33,000 after purchasing an additional 521 shares during the period. Smartleaf Asset Management LLC increased its holdings in Toast by 59.1% during the 3rd quarter. Smartleaf Asset Management LLC now owns 1,182 shares of the company’s stock worth $44,000 after acquiring an additional 439 shares during the period. Cornerstone Planning Group LLC increased its holdings in Toast by 8,807.1% during the 4th quarter. Cornerstone Planning Group LLC now owns 1,247 shares of the company’s stock worth $44,000 after acquiring an additional 1,233 shares during the period. Kohmann Bosshard Financial Services LLC bought a new stake in Toast during the 4th quarter worth approximately $45,000. Finally, GHP Investment Advisors Inc. increased its holdings in Toast by 40.0% during the 4th quarter. GHP Investment Advisors Inc. now owns 1,400 shares of the company’s stock worth $50,000 after acquiring an additional 400 shares during the period. Institutional investors own 82.91% of the company’s stock.

Toast Price Performance

TOST stock opened at $27.66 on Tuesday. Toast, Inc. has a one year low of $22.26 and a one year high of $49.66. The stock has a market cap of $14.27 billion, a PE ratio of 42.56 and a beta of 1.76. The firm has a 50 day simple moving average of $26.28 and a two-hundred day simple moving average of $30.16.

Toast declared that its board has approved a stock buyback plan on Thursday, February 12th that allows the company to buyback $0.00 in outstanding shares. This buyback authorization allows the company to reacquire shares of its stock through open market purchases. Shares buyback plans are often an indication that the company’s board believes its shares are undervalued.

Insider Activity at Toast

In related news, CFO Elena Gomez sold 8,929 shares of the stock in a transaction on Thursday, April 2nd. The shares were sold at an average price of $26.19, for a total transaction of $233,850.51. Following the transaction, the chief financial officer owned 173,064 shares of the company’s stock, valued at approximately $4,532,546.16. This trade represents a 4.91% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CRO Jonathan Vassil sold 6,438 shares of the stock in a transaction on Thursday, April 2nd. The shares were sold at an average price of $26.19, for a total transaction of $168,611.22. Following the transaction, the executive directly owned 146,618 shares in the company, valued at approximately $3,839,925.42. This represents a 4.21% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders have sold 39,783 shares of company stock worth $1,041,917 in the last 90 days. Corporate insiders own 10.03% of the company’s stock.

Analyst Upgrades and Downgrades

A number of analysts recently weighed in on TOST shares. UBS Group decreased their target price on shares of Toast from $40.00 to $34.00 and set a “buy” rating on the stock in a report on Friday, May 8th. Oppenheimer reaffirmed an “outperform” rating and set a $36.00 target price on shares of Toast in a report on Friday, May 8th. Sanford C. Bernstein set a $39.00 target price on shares of Toast in a report on Monday, February 16th. DA Davidson decreased their target price on shares of Toast from $33.00 to $28.00 and set a “neutral” rating on the stock in a report on Tuesday, May 12th. Finally, The Goldman Sachs Group decreased their target price on shares of Toast from $43.00 to $31.00 and set a “neutral” rating on the stock in a report on Tuesday, February 17th. One equities research analyst has rated the stock with a Strong Buy rating, seventeen have issued a Buy rating and eight have assigned a Hold rating to the stock. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $37.84.

Check Out Our Latest Research Report on Toast

About Toast

(Free Report)

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.

Further Reading

Institutional Ownership by Quarter for Toast (NYSE:TOST)

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