OCONNOR A Distinct Business Unit of UBS ASSET MANAGEMENT AMERICAS LLC lifted its position in Toast, Inc. (NYSE:TOST – Free Report) by 150.0% during the fourth quarter, Holdings Channel reports. The institutional investor owned 200,000 shares of the company’s stock after buying an additional 120,000 shares during the quarter. Toast comprises approximately 0.8% of OCONNOR A Distinct Business Unit of UBS ASSET MANAGEMENT AMERICAS LLC’s investment portfolio, making the stock its 29th largest holding. OCONNOR A Distinct Business Unit of UBS ASSET MANAGEMENT AMERICAS LLC’s holdings in Toast were worth $7,102,000 at the end of the most recent quarter.
Several other large investors have also recently modified their holdings of the company. SHP Wealth Management acquired a new stake in Toast in the fourth quarter valued at approximately $29,000. Strive Financial Group LLC acquired a new position in shares of Toast during the fourth quarter worth $29,000. Central Pacific Bank Trust Division increased its position in shares of Toast by 123.5% during the fourth quarter. Central Pacific Bank Trust Division now owns 943 shares of the company’s stock worth $33,000 after purchasing an additional 521 shares in the last quarter. Silicon Valley Capital Partners purchased a new stake in shares of Toast during the 4th quarter valued at $36,000. Finally, Quadrant Capital Group LLC lifted its holdings in shares of Toast by 2,083.3% during the 4th quarter. Quadrant Capital Group LLC now owns 1,048 shares of the company’s stock valued at $37,000 after purchasing an additional 1,000 shares during the last quarter. Institutional investors own 82.91% of the company’s stock.
Wall Street Analyst Weigh In
Several research analysts recently weighed in on TOST shares. Truist Financial dropped their target price on Toast from $36.00 to $30.00 and set a “buy” rating on the stock in a research note on Tuesday, May 12th. BMO Capital Markets reiterated an “outperform” rating on shares of Toast in a research note on Monday, June 1st. Zacks Research raised Toast from a “hold” rating to a “strong-buy” rating in a report on Tuesday, May 26th. Piper Sandler initiated coverage on Toast in a research note on Wednesday, June 10th. They set an “overweight” rating and a $32.00 price target on the stock. 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 investment 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 stock. According to MarketBeat, Toast currently has an average rating of “Moderate Buy” and a consensus target price of $37.62.
Toast Price Performance
NYSE TOST opened at $24.65 on Friday. The company has a market cap of $12.72 billion, a price-to-earnings ratio of 37.92 and a beta of 1.76. The stock’s fifty day moving average price is $25.81 and its 200 day moving average price is $29.26. Toast, Inc. has a 1 year low of $22.26 and a 1 year high of $49.66.
Insiders Place Their Bets
In related news, CRO Jonathan Vassil sold 6,438 shares of the company’s stock in a transaction that occurred 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 owned 146,618 shares in the company, valued at $3,839,925.42. This represents a 4.21% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, President Stephen Fredette sold 7,289 shares of the stock in a transaction that occurred 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 transaction, the president owned 920,985 shares in the company, valued at approximately $24,120,597.15. This trade represents a 0.79% decrease in their position. The SEC filing for this sale provides additional information. In the last ninety days, insiders sold 147,783 shares of company stock valued at $3,838,037. Insiders own 10.03% of the company’s stock.
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.
Further Reading
- Five stocks we like better than Toast
- Aehr Spikes on New Order, But Has Stock Gotten Ahead of Itself?
- Rackspace’s AI Land Grab: Plugging Into the Next Compute Boom
- Satellogic Is Tiny But Its Revenue Growth Is Hard to Ignore
- Why Kroger’s Pullback Could Be a Gift for Patient Investors
Want to see what other hedge funds are holding TOST? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Toast, Inc. (NYSE:TOST – Free Report).
Receive News & Ratings for Toast Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Toast and related companies with MarketBeat.com's FREE daily email newsletter.
