Janus Henderson Group PLC lowered its position in shares of Toast, Inc. (NYSE:TOST – Free Report) by 8.3% in the 1st quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 674,792 shares of the company’s stock after selling 61,413 shares during the period. Janus Henderson Group PLC’s holdings in Toast were worth $17,889,000 at the end of the most recent reporting period.
A number of other large investors have also added to or reduced their stakes in the company. Jennison Associates LLC raised its stake in shares of Toast by 1.0% during the fourth quarter. Jennison Associates LLC now owns 15,157,955 shares of the company’s stock valued at $538,259,000 after acquiring an additional 157,394 shares during the last quarter. Morgan Stanley grew its stake in shares of Toast by 6.7% in the fourth quarter. Morgan Stanley now owns 10,372,626 shares of the company’s stock worth $368,332,000 after purchasing an additional 653,487 shares during the last quarter. State Street Corp increased its holdings in Toast by 3.0% during the 4th quarter. State Street Corp now owns 9,820,594 shares of the company’s stock valued at $348,729,000 after purchasing an additional 282,282 shares during the period. XN LP increased its holdings in Toast by 50.8% during the 4th quarter. XN LP now owns 8,988,386 shares of the company’s stock valued at $319,178,000 after purchasing an additional 3,029,856 shares during the period. Finally, Geode Capital Management LLC raised its position in Toast by 2.0% during the 4th quarter. Geode Capital Management LLC now owns 8,675,056 shares of the company’s stock valued at $307,214,000 after purchasing an additional 169,230 shares during the last quarter. Institutional investors own 82.91% of the company’s stock.
Toast Stock Performance
Toast stock opened at $32.81 on Tuesday. The stock’s 50 day simple moving average is $27.66 and its two-hundred day simple moving average is $27.84. The stock has a market cap of $16.93 billion, a price-to-earnings ratio of 50.49 and a beta of 1.72. Toast, Inc. has a fifty-two week low of $22.26 and a fifty-two week high of $49.66.
Wall Street Analyst Weigh In
Several equities research analysts have weighed in on the company. DA Davidson increased their price objective on Toast from $28.00 to $30.00 and gave the stock a “neutral” rating in a report on Wednesday, July 29th. Truist Financial boosted their target price on Toast from $30.00 to $33.00 and gave the company a “buy” rating in a research note on Friday, July 24th. BMO Capital Markets reaffirmed an “outperform” rating on shares of Toast in a research note on Monday, June 1st. Piper Sandler started coverage on Toast in a research note on Wednesday, June 10th. They issued an “overweight” rating and a $32.00 price target for the company. Finally, Rothschild & Co Redburn reiterated a “neutral” rating and issued a $35.00 price target on shares of Toast in a report on Tuesday, May 12th. Two analysts have rated the stock with a Strong Buy rating, sixteen have given a Buy rating and eight have given a Hold rating to the company. Based on data from MarketBeat.com, Toast presently has a consensus rating of “Moderate Buy” and a consensus target price of $37.27.
Read Our Latest Analysis on Toast
Insider Activity at Toast
In other Toast news, CRO Jonathan Vassil sold 3,150 shares of the firm’s stock in a transaction on Tuesday, July 7th. The stock was sold at an average price of $30.03, for a total transaction of $94,594.50. Following the completion of the transaction, the executive owned 69,966 shares of the company’s stock, valued at approximately $2,101,078.98. This trade represents a 4.31% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CFO Elena Gomez sold 11,605 shares of the business’s stock in a transaction on Thursday, July 2nd. The shares were sold at an average price of $28.85, for a total transaction of $334,804.25. Following the sale, the chief financial officer owned 185,150 shares in the company, valued at approximately $5,341,577.50. This trade represents a 5.90% decrease in their position. The disclosure for this sale is available in the SEC filing. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Insiders sold a total of 159,265 shares of company stock valued at $4,278,832 over the last ninety days. Insiders own 10.03% of the company’s stock.
About Toast
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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