138,620 Shares in Toast, Inc. $TOST Bought by OP Asset Management Ltd

OP Asset Management Ltd acquired a new stake in Toast, Inc. (NYSE:TOST) during the 1st quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm acquired 138,620 shares of the company’s stock, valued at approximately $3,675,000.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of TOST. Capital International Investors raised its stake in Toast by 7.4% during the third quarter. Capital International Investors now owns 48,428,060 shares of the company’s stock worth $1,768,256,000 after acquiring an additional 3,351,545 shares in the last quarter. Jennison Associates LLC boosted its stake in shares of Toast by 1.0% in the 4th quarter. Jennison Associates LLC now owns 15,157,955 shares of the company’s stock valued at $538,259,000 after purchasing an additional 157,394 shares in the last quarter. Morgan Stanley boosted its stake in shares of Toast by 6.7% in the 4th quarter. Morgan Stanley now owns 10,372,626 shares of the company’s stock valued at $368,332,000 after purchasing an additional 653,487 shares in the last quarter. State Street Corp grew its holdings in shares of Toast by 3.0% during the 4th quarter. State Street Corp now owns 9,820,594 shares of the company’s stock valued at $348,729,000 after purchasing an additional 282,282 shares during the last quarter. Finally, XN LP grew its holdings in shares of Toast by 50.8% during the 4th 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 last quarter. Institutional investors own 82.91% of the company’s stock.

Wall Street Analyst Weigh In

TOST has been the subject of a number of research analyst reports. Rothschild & Co Redburn reiterated a “neutral” rating and set a $35.00 price objective 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. Zacks Research upgraded shares of Toast from a “hold” rating to a “strong-buy” rating in a report on Tuesday, May 26th. Wall Street Zen upgraded shares of Toast from a “hold” rating to a “buy” rating in a report on Saturday, June 13th. Finally, DA Davidson dropped their price target on Toast from $33.00 to $28.00 and set a “neutral” rating for the company in a research note on Tuesday, May 12th. 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 stock. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $37.62.

Toast Price Performance

Toast stock opened at $27.16 on Friday. The business has a 50 day moving average of $25.69 and a 200-day moving average of $28.94. Toast, Inc. has a 1 year low of $22.26 and a 1 year high of $49.66. The company has a market capitalization of $14.01 billion, a P/E ratio of 41.78 and a beta of 1.76.

Insider Activity

In other news, President Stephen Fredette sold 7,289 shares of the firm’s stock in a transaction on Thursday, April 2nd. The shares were sold at an average price of $26.19, for a total transaction of $190,898.91. Following the completion of the transaction, the president 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. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, General Counsel Brian R. Elworthy sold 108,000 shares of Toast stock in a transaction 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 transaction, the general counsel owned 189,642 shares in the company, valued at approximately $4,909,831.38. This trade represents a 36.29% decrease in their position. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Over the last ninety days, insiders sold 147,783 shares of company stock worth $3,838,037. Company insiders own 10.03% of the company’s stock.

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.