Sands Capital Alternatives LLC Has $10.71 Million Stock Position in Toast, Inc. $TOST

Sands Capital Alternatives LLC boosted its position in shares of Toast, Inc. (NYSE:TOST) by 92.6% during the 4th quarter, according to its most recent 13F filing with the SEC. The fund owned 301,647 shares of the company’s stock after purchasing an additional 145,043 shares during the quarter. Toast comprises about 2.1% of Sands Capital Alternatives LLC’s holdings, making the stock its 9th biggest holding. Sands Capital Alternatives LLC owned 0.05% of Toast worth $10,711,000 at the end of the most recent reporting period.

Several other institutional investors also recently bought and sold shares of the company. Wynn Capital LLC grew its position in Toast by 2.1% during the 4th quarter. Wynn Capital LLC now owns 13,755 shares of the company’s stock valued at $488,000 after purchasing an additional 280 shares during the last quarter. Bridgewater Advisors Inc. grew its position in Toast by 2.3% during the 3rd quarter. Bridgewater Advisors Inc. now owns 13,107 shares of the company’s stock valued at $472,000 after purchasing an additional 294 shares during the last quarter. BOKF NA grew its position in Toast by 4.5% during the 3rd quarter. BOKF NA now owns 8,023 shares of the company’s stock valued at $293,000 after purchasing an additional 345 shares during the last quarter. The Manufacturers Life Insurance Company grew its position in Toast by 1.7% during the 2nd quarter. The Manufacturers Life Insurance Company now owns 22,857 shares of the company’s stock valued at $1,012,000 after purchasing an additional 380 shares during the last quarter. Finally, Seven Mile Advisory grew its position in Toast by 3.1% during the 3rd quarter. Seven Mile Advisory now owns 12,689 shares of the company’s stock valued at $463,000 after purchasing an additional 381 shares during the last quarter. 82.91% of the stock is owned by hedge funds and other institutional investors.

Toast Stock Down 0.0%

Shares of TOST stock opened at $24.81 on Monday. The company has a 50 day moving average price of $25.98 and a 200-day moving average price of $29.54. Toast, Inc. has a 52 week low of $22.26 and a 52 week high of $49.66. The firm has a market capitalization of $12.80 billion, a PE ratio of 38.17 and a beta of 1.76.

Analyst Ratings Changes

TOST has been the topic of several recent analyst reports. Rothschild & Co Redburn reissued a “neutral” rating and set a $35.00 price objective on shares of Toast in a research report on Tuesday, May 12th. UBS Group lowered their price target on Toast from $40.00 to $34.00 and set a “buy” rating on the stock in a report on Friday, May 8th. DA Davidson lowered their price target on Toast from $33.00 to $28.00 and set a “neutral” rating on the stock in a report on Tuesday, May 12th. Sanford C. Bernstein set a $39.00 price target on Toast in a report on Monday, February 16th. Finally, Morgan Stanley set a $45.00 price target on Toast in a report on Friday, May 8th. Two equities research analysts have rated the stock with a Strong Buy rating, seventeen have given a Buy rating and eight have assigned a Hold rating to the stock. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $37.62.

Insider Transactions at Toast

In other news, CFO Elena Gomez sold 8,929 shares of Toast 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 $233,850.51. Following the completion of the sale, the chief financial officer directly owned 173,064 shares in the company, valued at $4,532,546.16. The trade was a 4.91% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, General Counsel Brian R. Elworthy sold 108,000 shares of Toast stock in a transaction that occurred on Friday, May 29th. The stock was sold at an average price of $25.89, for a total transaction of $2,796,120.00. Following the completion of the sale, the general counsel owned 189,642 shares of the company’s stock, valued at $4,909,831.38. This represents a 36.29% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Over the last three months, insiders sold 147,783 shares of company stock valued at $3,838,037. Company 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.