Toast, Inc. $TOST Shares Acquired by Hsbc Holdings PLC

Hsbc Holdings PLC raised its stake in shares of Toast, Inc. (NYSE:TOST) by 16.8% in the fourth quarter, Holdings Channel.com reports. The fund owned 181,371 shares of the company’s stock after purchasing an additional 26,032 shares during the period. Hsbc Holdings PLC’s holdings in Toast were worth $6,455,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also made changes to their positions in the company. Bayban acquired a new position in shares of Toast in the 4th quarter worth approximately $25,000. SHP Wealth Management acquired a new stake in Toast in the 4th quarter valued at approximately $29,000. Strive Financial Group LLC acquired a new stake in Toast in the 4th quarter valued at approximately $29,000. Central Pacific Bank Trust Division raised its position in Toast by 123.5% in the fourth 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 during the period. Finally, Silicon Valley Capital Partners purchased a new stake in Toast in the fourth quarter valued at approximately $36,000. 82.91% of the stock is owned by hedge funds and other institutional investors.

Toast Stock Down 3.5%

Toast stock opened at $28.58 on Thursday. The firm has a market cap of $14.75 billion, a PE ratio of 43.97 and a beta of 1.74. Toast, Inc. has a 52-week low of $22.26 and a 52-week high of $49.66. The company’s 50 day moving average is $25.68 and its two-hundred day moving average is $28.52.

Analyst Upgrades and Downgrades

Several research analysts have recently commented on the company. Oppenheimer restated an “outperform” rating and set a $36.00 price target on shares of Toast in a research report on Friday, May 8th. Piper Sandler initiated coverage on Toast in a report on Wednesday, June 10th. They issued an “overweight” rating and a $32.00 price objective on the stock. Zacks Research upgraded Toast from a “hold” rating to a “strong-buy” rating in a report on Tuesday, May 26th. Robert W. Baird increased their target price on Toast from $30.00 to $33.00 and gave the stock a “neutral” rating in a research note on Wednesday. Finally, Weiss Ratings restated a “hold (c)” rating on shares of Toast in a report on Wednesday, May 20th. Two investment 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 company. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average target price of $37.41.

Insiders Place Their Bets

In other news, CFO Elena Gomez sold 11,605 shares of the stock in a transaction on Thursday, July 2nd. The stock was sold at an average price of $28.85, for a total value of $334,804.25. Following the sale, the chief financial officer directly owned 185,150 shares in the company, valued at approximately $5,341,577.50. This trade represents a 5.90% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, CRO Jonathan Vassil sold 6,647 shares of Toast stock in a transaction on Thursday, July 2nd. The shares were sold at an average price of $28.85, for a total value of $191,765.95. Following the completion of the transaction, the executive owned 69,966 shares of the company’s stock, valued at approximately $2,018,519.10. This trade represents a 8.68% decrease in their ownership of the stock. 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. Over the last quarter, insiders have sold 156,115 shares of company stock valued at $4,184,238. Corporate 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.