Stephens Investment Management Group LLC Boosts Stock Holdings in Toast, Inc. $TOST

Stephens Investment Management Group LLC grew its stake in shares of Toast, Inc. (NYSE:TOST) by 14.8% during the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 2,008,871 shares of the company’s stock after buying an additional 259,457 shares during the quarter. Stephens Investment Management Group LLC owned 0.39% of Toast worth $53,255,000 at the end of the most recent quarter.

Several other large investors have also recently modified their holdings of the stock. Alliancebernstein L.P. boosted its holdings in Toast by 2,432.8% during the 3rd quarter. Alliancebernstein L.P. now owns 8,215,758 shares of the company’s stock valued at $299,957,000 after acquiring an additional 7,891,383 shares during the period. Norges Bank bought a new stake in Toast in the fourth quarter valued at approximately $202,808,000. ValueAct Holdings L.P. lifted its position in Toast by 135.9% in the fourth quarter. ValueAct Holdings L.P. now owns 8,015,277 shares of the company’s stock valued at $284,622,000 after purchasing an additional 4,618,077 shares during the last quarter. Capital International Investors boosted its stake in shares of Toast by 7.4% during the third quarter. Capital International Investors now owns 48,428,060 shares of the company’s stock valued at $1,768,256,000 after purchasing an additional 3,351,545 shares during the period. Finally, XN LP boosted its stake in shares of Toast by 50.8% during the fourth 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. Hedge funds and other institutional investors own 82.91% of the company’s stock.

Insider Buying and Selling

In other Toast news, General Counsel Brian R. Elworthy sold 108,000 shares of the company’s stock in a transaction dated Friday, May 29th. The shares were sold at an average price of $25.89, for a total value of $2,796,120.00. Following the sale, the general counsel owned 189,642 shares in the company, valued at approximately $4,909,831.38. This represents a 36.29% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. 10.03% of the stock is owned by insiders.

Toast Trading Down 0.1%

TOST opened at $28.79 on Friday. The company has a market cap of $14.85 billion, a price-to-earnings ratio of 44.29 and a beta of 1.74. The stock has a fifty day simple moving average of $25.64 and a two-hundred day simple moving average of $28.70. Toast, Inc. has a 12-month low of $22.26 and a 12-month high of $49.66.

Analyst Ratings Changes

Several research analysts recently commented on TOST shares. Weiss Ratings reaffirmed a “hold (c)” rating on shares of Toast in a research note on Wednesday, May 20th. Mizuho dropped their price target on shares of Toast from $45.00 to $38.00 and set an “outperform” rating for the company in a research report on Tuesday, May 12th. Rothschild & Co Redburn reissued a “neutral” rating and issued a $35.00 price target on shares of Toast in a report on Tuesday, May 12th. Citigroup decreased their price objective on shares of Toast from $42.00 to $36.00 and set a “buy” rating on the stock in a research report on Friday, May 8th. Finally, Truist Financial lowered their price objective on shares of Toast from $36.00 to $30.00 and set a “buy” rating for the company in a research note on Tuesday, May 12th. Two analysts have rated the stock with a Strong Buy rating, seventeen have given a Buy rating and eight have issued a Hold rating to the company. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $37.62.

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.