Apis Capital Advisors LLC purchased a new stake in Toast, Inc. (NYSE:TOST – Free Report) during the fourth quarter, HoldingsChannel reports. The firm purchased 242,000 shares of the company’s stock, valued at approximately $8,593,000. Toast comprises 1.5% of Apis Capital Advisors LLC’s investment portfolio, making the stock its 22nd largest position.
A number of other large investors have also added to or reduced their stakes in TOST. Alliancebernstein L.P. raised its stake in 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 acquiring an additional 7,891,383 shares during the period. Norges Bank bought a new stake in Toast in the 4th quarter valued at $202,808,000. ValueAct Holdings L.P. bought a new stake in Toast in the 3rd quarter valued at $124,032,000. Capital International Investors raised its stake in 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 acquiring an additional 3,351,545 shares during the period. Finally, Worldquant Millennium Advisors LLC raised its stake in Toast by 343.6% in the 2nd quarter. Worldquant Millennium Advisors LLC now owns 1,792,209 shares of the company’s stock valued at $79,377,000 after acquiring an additional 1,388,210 shares during the period. Institutional investors own 82.91% of the company’s stock.
Analysts Set New Price Targets
A number of equities research analysts recently weighed in on TOST shares. Weiss Ratings restated a “hold (c)” rating on shares of Toast in a research note on Wednesday, May 20th. Zacks Research upgraded Toast from a “hold” rating to a “strong-buy” rating in a research note on Tuesday, May 26th. Morgan Stanley set a $45.00 price target on Toast in a research note on Friday, May 8th. UBS Group dropped their price target on Toast from $40.00 to $34.00 and set a “buy” rating on the stock in a research note on Friday, May 8th. Finally, Citigroup dropped their price target on Toast from $42.00 to $36.00 and set a “buy” rating on the stock in a research note on Friday, May 8th. Two research analysts have rated the stock with a Strong Buy rating, seventeen have issued a Buy rating and eight have issued a Hold rating to the company’s stock. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $37.62.
Insider Activity
In other Toast news, CEO Aman Narang sold 13,463 shares of the stock in a transaction on Thursday, April 2nd. The stock was sold at an average price of $26.19, for a total transaction of $352,595.97. Following the transaction, the chief executive officer owned 54,013 shares in the company, valued at $1,414,600.47. This trade represents a 19.95% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CRO Jonathan Vassil sold 6,438 shares of the stock in a transaction on Thursday, April 2nd. The stock was sold at an average price of $26.19, for a total value of $168,611.22. Following the sale, the executive directly owned 146,618 shares in the company, valued at approximately $3,839,925.42. This trade represents a 4.21% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Over the last ninety days, insiders have sold 147,783 shares of company stock worth $3,838,037. Corporate insiders own 10.03% of the company’s stock.
Toast Price Performance
TOST stock opened at $24.43 on Thursday. The stock has a market capitalization of $12.60 billion, a price-to-earnings ratio of 37.58 and a beta of 1.76. The business’s fifty day moving average price is $25.87 and its two-hundred day moving average price is $29.36. Toast, Inc. has a fifty-two week low of $22.26 and a fifty-two week high of $49.66.
Toast 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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