National Pension Service Increases Stock Position in Toast, Inc. $TOST

National Pension Service raised its position in shares of Toast, Inc. (NYSE:TOST) by 184.4% in the 4th quarter, HoldingsChannel reports. The institutional investor owned 30,403 shares of the company’s stock after purchasing an additional 19,714 shares during the quarter. National Pension Service’s holdings in Toast were worth $1,080,000 at the end of the most recent quarter.

Several other institutional investors have also added to or reduced their stakes in TOST. NewEdge Advisors LLC boosted its position in Toast by 1,555.5% during the 1st quarter. NewEdge Advisors LLC now owns 17,432 shares of the company’s stock valued at $578,000 after buying an additional 16,379 shares during the period. Cerity Partners LLC boosted its position in Toast by 24.0% during the 2nd quarter. Cerity Partners LLC now owns 81,574 shares of the company’s stock valued at $3,613,000 after buying an additional 15,774 shares during the period. State Street Corp boosted its position in Toast by 2.7% during the 2nd quarter. State Street Corp now owns 9,212,889 shares of the company’s stock valued at $408,039,000 after buying an additional 245,276 shares during the period. Frontier Capital Management Co. LLC purchased a new stake in Toast during the 2nd quarter valued at $4,479,000. Finally, Sei Investments Co. boosted its position in Toast by 24.6% during the 2nd quarter. Sei Investments Co. now owns 1,030,007 shares of the company’s stock valued at $45,619,000 after buying an additional 203,404 shares during the period. Hedge funds and other institutional investors own 82.91% of the company’s stock.

Insider Activity at Toast

In related news, CEO Aman Narang sold 13,463 shares of Toast stock in a transaction dated Thursday, April 2nd. The shares were sold at an average price of $26.19, for a total transaction of $352,595.97. Following the completion of the transaction, the chief executive officer directly owned 54,013 shares of the company’s stock, valued at $1,414,600.47. This trade represents a 19.95% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, President Stephen Fredette sold 7,289 shares of Toast stock in a transaction dated Thursday, April 2nd. The shares were sold at an average price of $26.19, for a total transaction of $190,898.91. Following the transaction, the president directly owned 920,985 shares of the company’s stock, valued at approximately $24,120,597.15. This trade represents a 0.79% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold a total of 39,783 shares of company stock worth $1,041,917 over the last 90 days. 10.03% of the stock is currently owned by insiders.

Analyst Upgrades and Downgrades

Several equities research analysts have weighed in on the stock. Wells Fargo & Company dropped their price target on shares of Toast from $47.00 to $36.00 and set an “overweight” rating for the company in a research report on Friday, February 13th. Loop Capital assumed coverage on shares of Toast in a research report on Tuesday, March 31st. They set a “hold” rating and a $26.00 price target for the company. Rothschild & Co Redburn reaffirmed a “neutral” rating and issued a $35.00 target price on shares of Toast in a research report on Tuesday, May 12th. Morgan Stanley set a $45.00 target price on shares of Toast in a research report on Friday, May 8th. Finally, DA Davidson dropped their target price on shares of Toast from $33.00 to $28.00 and set a “neutral” rating for the company in a research report on Tuesday, May 12th. One investment analyst has rated the stock with a Strong Buy rating, seventeen have given a Buy rating and eight have issued a Hold rating to the company’s stock. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $37.84.

Toast Price Performance

Shares of NYSE TOST opened at $27.66 on Tuesday. Toast, Inc. has a 1 year low of $22.26 and a 1 year high of $49.66. The stock has a market cap of $14.27 billion, a P/E ratio of 42.56 and a beta of 1.76. The firm has a 50-day moving average of $26.28 and a 200 day moving average of $30.16.

Toast declared that its Board of Directors has initiated a share repurchase plan on Thursday, February 12th that allows the company to buyback $0.00 in shares. This buyback authorization allows the company to repurchase shares of its stock through open market purchases. Shares buyback plans are generally an indication that the company’s board of directors believes its stock is undervalued.

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.