Toast, Inc. $TOST Shares Purchased by Northwestern Mutual Wealth Management Co.

Northwestern Mutual Wealth Management Co. increased its position in shares of Toast, Inc. (NYSE:TOST) by 1,925.3% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 985,653 shares of the company’s stock after acquiring an additional 936,987 shares during the period. Northwestern Mutual Wealth Management Co.’s holdings in Toast were worth $35,001,000 at the end of the most recent quarter.

A number of other hedge funds have also recently bought and sold shares of the company. Arista Wealth Management LLC acquired a new position in Toast during the fourth quarter worth about $367,000. Geode Capital Management LLC boosted its position in shares of Toast by 2.0% in the 4th quarter. Geode Capital Management LLC now owns 8,675,056 shares of the company’s stock valued at $307,214,000 after purchasing an additional 169,230 shares during the period. Employees Retirement System of Texas increased its stake in Toast by 23,078.2% in the 4th quarter. Employees Retirement System of Texas now owns 1,114,408 shares of the company’s stock worth $39,573,000 after purchasing an additional 1,109,600 shares in the last quarter. Terril Brothers Inc. purchased a new position in Toast in the 4th quarter worth about $295,000. Finally, Malaga Cove Capital LLC purchased a new position in Toast in the 4th quarter worth about $263,000. 82.91% of the stock is owned by institutional investors and hedge funds.

Insider Activity

In other Toast news, CRO Jonathan Vassil sold 6,438 shares of the firm’s stock in a transaction dated Thursday, April 2nd. The stock was sold at an average price of $26.19, for a total transaction of $168,611.22. Following the completion of the sale, the executive directly owned 146,618 shares in the company, valued at approximately $3,839,925.42. This trade represents a 4.21% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, CEO Aman Narang sold 13,463 shares of the firm’s stock in a transaction dated Thursday, April 2nd. The stock was sold at an average price of $26.19, for a total value of $352,595.97. Following the sale, the chief executive officer owned 54,013 shares of the company’s stock, valued at $1,414,600.47. The trade was a 19.95% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. In the last three months, insiders sold 39,783 shares of company stock worth $1,041,917. Corporate insiders own 12.14% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities analysts recently weighed in on TOST shares. Wall Street Zen cut Toast from a “buy” rating to a “hold” rating in a research note on Saturday, May 9th. Truist Financial dropped their price target on Toast from $36.00 to $30.00 and set a “buy” rating on the stock in a research note on Tuesday, May 12th. The Goldman Sachs Group dropped their price target on Toast from $43.00 to $31.00 and set a “neutral” rating on the stock in a research note on Tuesday, February 17th. Morgan Stanley set a $45.00 price target on Toast in a research note on Friday, May 8th. Finally, Citigroup dropped their price target on Toast from $42.00 to $36.00 and set a “buy” rating on the stock in a research note on Friday, May 8th. Two research analysts have rated the stock with a Strong Buy rating, sixteen have assigned a Buy rating and eight have given a Hold rating to the company. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $37.84.

Toast Trading Up 4.4%

Shares of NYSE TOST opened at $26.06 on Friday. Toast, Inc. has a one year low of $22.26 and a one year high of $49.66. The firm has a market capitalization of $13.45 billion, a PE ratio of 40.10 and a beta of 1.81. The business has a 50-day moving average price of $26.27 and a two-hundred day moving average price of $30.29.

Toast announced that its Board of Directors has approved a share buyback program on Thursday, February 12th that allows the company to buyback $0.00 in shares. This buyback authorization allows the company to purchase shares of its stock through open market purchases. Stock buyback programs are often a sign that the company’s management believes its stock is undervalued.

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.