Rothschild Investment LLC Increases Position in Toast, Inc. $TOST

Rothschild Investment LLC lifted its position in shares of Toast, Inc. (NYSE:TOST) by 37,076.6% during the 4th quarter, according to its most recent disclosure with the SEC. The firm owned 176,589 shares of the company’s stock after buying an additional 176,114 shares during the period. Rothschild Investment LLC’s holdings in Toast were worth $6,271,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also modified their holdings of the company. NewEdge Advisors LLC increased its position in Toast by 1,555.5% during 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 increased its position in Toast by 24.0% during 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 increased its position in Toast by 2.7% during 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 acquired a new position in Toast during the second quarter worth approximately $4,479,000. Finally, Sei Investments Co. increased its position in Toast by 24.6% during 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. Hedge funds and other institutional investors own 82.91% of the company’s stock.

Analysts Set New Price Targets

TOST has been the subject of several research analyst reports. Wells Fargo & Company dropped their price target on shares of Toast from $47.00 to $36.00 and set an “overweight” rating for the company in a research report on Friday, February 13th. BMO Capital Markets initiated coverage on shares of Toast in a research report on Tuesday, April 21st. They set an “outperform” rating and a $35.00 price target for the company. Zacks Research raised shares of Toast from a “hold” rating to a “strong-buy” rating in a research report on Tuesday. Needham & Company LLC dropped their price target on shares of Toast from $60.00 to $35.00 and set a “buy” rating for the company in a research report on Friday, February 13th. Finally, Oppenheimer reaffirmed an “outperform” rating and set a $36.00 price target on shares of Toast in a research report on Friday, May 8th. Two research analysts have rated the stock with a Strong Buy rating, sixteen have given a Buy rating and eight have assigned a Hold rating to the company’s stock. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average price target of $37.84.

Toast Stock Up 2.0%

Toast stock opened at $24.99 on Friday. Toast, Inc. has a 52-week low of $22.26 and a 52-week high of $49.66. The firm has a fifty day moving average of $26.31 and a 200-day moving average of $30.32. The firm has a market capitalization of $12.89 billion, a P/E ratio of 38.44 and a beta of 1.81.

Toast declared that its Board of Directors has authorized a stock repurchase plan on Thursday, February 12th that permits the company to repurchase $0.00 in shares. This repurchase authorization permits the company to repurchase shares of its stock through open market purchases. Stock repurchase plans are typically a sign that the company’s management believes its shares are undervalued.

Insider Buying and Selling

In other news, President Stephen Fredette sold 7,289 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 value of $190,898.91. Following the completion of the sale, the president owned 920,985 shares of the company’s stock, valued at $24,120,597.15. This represents a 0.79% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, 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 completion of the sale, the chief executive officer directly owned 54,013 shares of the company’s stock, valued at $1,414,600.47. The trade was a 19.95% decrease in their position. The disclosure for this sale is available in the SEC filing. Over the last ninety days, insiders have sold 39,783 shares of company stock valued at $1,041,917. 12.14% of the stock is owned by corporate insiders.

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.