Toast, Inc. $TOST Shares Purchased by State of Wyoming

State of Wyoming increased its stake in shares of Toast, Inc. (NYSE:TOST) by 113.0% during the 4th quarter, according to its most recent filing with the SEC. The institutional investor owned 43,435 shares of the company’s stock after acquiring an additional 23,047 shares during the period. State of Wyoming’s holdings in Toast were worth $1,542,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently bought and sold shares of the stock. Central Pacific Bank Trust Division raised its position in shares of Toast by 123.5% in the 4th quarter. Central Pacific Bank Trust Division now owns 943 shares of the company’s stock valued at $33,000 after purchasing an additional 521 shares in the last quarter. Smartleaf Asset Management LLC raised its position in shares of Toast by 59.1% in the 3rd quarter. Smartleaf Asset Management LLC now owns 1,182 shares of the company’s stock valued at $44,000 after purchasing an additional 439 shares in the last quarter. Cornerstone Planning Group LLC raised its position in shares of Toast by 8,807.1% in the 4th quarter. Cornerstone Planning Group LLC now owns 1,247 shares of the company’s stock valued at $44,000 after purchasing an additional 1,233 shares in the last quarter. Kohmann Bosshard Financial Services LLC acquired a new position in shares of Toast in the 4th quarter valued at approximately $45,000. Finally, GHP Investment Advisors Inc. raised its position in shares of Toast by 40.0% in the 4th quarter. GHP Investment Advisors Inc. now owns 1,400 shares of the company’s stock valued at $50,000 after purchasing an additional 400 shares in the last quarter. 82.91% of the stock is owned by institutional investors and hedge funds.

Insiders Place Their Bets

In other news, General Counsel Brian R. Elworthy sold 108,000 shares of the business’s stock in a transaction that occurred on Friday, May 29th. The stock was sold at an average price of $25.89, for a total value of $2,796,120.00. Following the completion of the sale, the general counsel directly owned 189,642 shares in the company, valued at approximately $4,909,831.38. The trade was a 36.29% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CRO Jonathan Vassil sold 6,438 shares of the business’s stock in a transaction that occurred on Thursday, April 2nd. The shares were sold at an average price of $26.19, for a total value of $168,611.22. Following the completion of the sale, the executive owned 146,618 shares of the company’s stock, valued at $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. In the last ninety days, insiders sold 147,783 shares of company stock worth $3,838,037. Corporate insiders own 10.03% of the company’s stock.

Toast Trading Down 4.9%

Shares of NYSE TOST opened at $25.07 on Thursday. Toast, Inc. has a twelve month low of $22.26 and a twelve month high of $49.66. The company has a market capitalization of $12.93 billion, a price-to-earnings ratio of 38.56 and a beta of 1.76. The business has a 50 day simple moving average of $26.20 and a 200-day simple moving average of $30.00.

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

Analyst Upgrades and Downgrades

A number of equities analysts have issued reports on the company. Sanford C. Bernstein set a $39.00 target price on Toast in a research report on Monday, February 16th. Weiss Ratings reaffirmed a “hold (c)” rating on shares of Toast in a research report on Wednesday, May 20th. Needham & Company LLC cut their target price on Toast from $60.00 to $35.00 and set a “buy” rating on the stock in a research report on Friday, February 13th. Jefferies Financial Group set a $35.00 target price on Toast in a research report on Friday, February 13th. Finally, DA Davidson cut their target price on Toast from $33.00 to $28.00 and set a “neutral” rating on the stock in a research report on Tuesday, May 12th. One research analyst has rated the stock with a Strong Buy rating, seventeen have issued a Buy rating and eight have given a Hold rating to the company. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus target price of $37.84.

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.