Havemeyer Place LP purchased a new position in Toast, Inc. (NYSE:TOST – Free Report) during the 4th quarter, Holdings Channel reports. The institutional investor purchased 20,964 shares of the company’s stock, valued at approximately $744,000.
Several other institutional investors and hedge funds have also bought and sold shares of TOST. NewEdge Advisors LLC grew its holdings in Toast by 1,555.5% in the first quarter. NewEdge Advisors LLC now owns 17,432 shares of the company’s stock worth $578,000 after purchasing an additional 16,379 shares during the last quarter. Cerity Partners LLC grew its holdings in Toast by 24.0% in the second quarter. Cerity Partners LLC now owns 81,574 shares of the company’s stock worth $3,613,000 after purchasing an additional 15,774 shares during the last quarter. State Street Corp grew its holdings in Toast by 2.7% in the second quarter. State Street Corp now owns 9,212,889 shares of the company’s stock worth $408,039,000 after purchasing an additional 245,276 shares during the last quarter. Frontier Capital Management Co. LLC purchased a new position in Toast in the second quarter worth $4,479,000. Finally, Sei Investments Co. grew its holdings in Toast by 24.6% in the second quarter. Sei Investments Co. now owns 1,030,007 shares of the company’s stock worth $45,619,000 after purchasing an additional 203,404 shares during the last quarter. 82.91% of the stock is owned by hedge funds and other institutional investors.
Analyst Ratings Changes
TOST has been the topic of a number of research analyst reports. Canaccord Genuity Group set a $37.00 price objective on shares of Toast in a report on Friday, February 13th. Needham & Company LLC dropped their price objective on shares of Toast from $60.00 to $35.00 and set a “buy” rating on the stock in a report on Friday, February 13th. Morgan Stanley set a $45.00 price objective on shares of Toast in a report on Friday, May 8th. Rothschild & Co Redburn reissued a “neutral” rating and set a $35.00 price objective on shares of Toast in a report on Tuesday, May 12th. Finally, Wall Street Zen lowered shares of Toast from a “buy” rating to a “hold” rating in a report on Saturday, May 9th. One investment analyst has rated the stock with a Strong Buy rating, seventeen have given a Buy rating and eight have assigned a Hold rating to the company’s stock. According to MarketBeat.com, Toast has a consensus rating of “Moderate Buy” and a consensus price target of $37.84.
Insider Activity at Toast
In related news, CRO Jonathan Vassil sold 6,438 shares of the business’s 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 completion of the transaction, the executive directly owned 146,618 shares in the company, valued at $3,839,925.42. The trade was a 4.21% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, President Stephen Fredette sold 7,289 shares of Toast stock in a transaction dated Thursday, April 2nd. The shares were sold at an average price of $26.19, for a total value of $190,898.91. Following the transaction, the president owned 920,985 shares of the company’s stock, valued at $24,120,597.15. The trade was a 0.79% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders sold a total of 147,783 shares of company stock valued at $3,838,037 over the last ninety days. Corporate insiders own 10.03% of the company’s stock.
Toast Price Performance
Shares of TOST opened at $24.07 on Tuesday. The company’s fifty day moving average price is $26.09 and its 200-day moving average price is $29.78. Toast, Inc. has a 1-year low of $22.26 and a 1-year high of $49.66. The firm has a market capitalization of $12.42 billion, a PE ratio of 37.03 and a beta of 1.76.
Toast declared that its board has authorized a share buyback plan on Thursday, February 12th that authorizes the company to buyback $0.00 in shares. This buyback authorization authorizes the company to buy shares of its stock through open market purchases. Stock buyback plans are generally a sign that the company’s board believes its stock is undervalued.
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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