Capstone Capital Management Ltd Takes Position in Toast, Inc. $TOST

Capstone Capital Management Ltd acquired a new position in shares of Toast, Inc. (NYSE:TOST) during the fourth quarter, HoldingsChannel.com reports. The institutional investor acquired 27,574 shares of the company’s stock, valued at approximately $979,000.

Several other hedge funds have also recently bought and sold shares of TOST. Alliancebernstein L.P. raised its position in Toast by 2,432.8% during the third quarter. Alliancebernstein L.P. now owns 8,215,758 shares of the company’s stock valued at $299,957,000 after purchasing an additional 7,891,383 shares in the last quarter. Jennison Associates LLC increased its position in shares of Toast by 74.4% during the third quarter. Jennison Associates LLC now owns 15,000,561 shares of the company’s stock worth $547,670,000 after buying an additional 6,398,674 shares during the period. ValueAct Holdings L.P. acquired a new position in shares of Toast during the 3rd quarter valued at $124,032,000. Capital International Investors lifted its holdings in shares of Toast by 7.4% in the 3rd quarter. Capital International Investors now owns 48,428,060 shares of the company’s stock worth $1,768,256,000 after purchasing an additional 3,351,545 shares in the last quarter. Finally, Worldquant Millennium Advisors LLC boosted its stake in Toast by 343.6% during the 2nd quarter. Worldquant Millennium Advisors LLC now owns 1,792,209 shares of the company’s stock valued at $79,377,000 after purchasing an additional 1,388,210 shares during the last quarter. 82.91% of the stock is owned by institutional investors.

Insiders Place Their Bets

In other news, General Counsel Brian R. Elworthy sold 3,664 shares of the business’s stock in a transaction that occurred on Thursday, April 2nd. The shares were sold at an average price of $26.19, for a total transaction of $95,960.16. Following the completion of the transaction, the general counsel directly owned 243,642 shares of the company’s stock, valued at $6,380,983.98. The trade was a 1.48% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, CRO Jonathan Vassil sold 6,438 shares of the stock in a transaction on Thursday, April 2nd. The shares were sold at an average price of $26.19, for a total value of $168,611.22. Following the transaction, the executive directly owned 146,618 shares in the company, valued at $3,839,925.42. The trade was a 4.21% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders have sold 39,783 shares of company stock worth $1,041,917 in the last quarter. Insiders own 12.14% of the company’s stock.

Toast Price Performance

Shares of Toast stock opened at $22.60 on Tuesday. Toast, Inc. has a 1 year low of $22.26 and a 1 year high of $49.66. The firm’s 50-day moving average is $27.11 and its 200 day moving average is $31.03. The stock has a market cap of $11.66 billion, a price-to-earnings ratio of 34.77 and a beta of 1.81.

Toast announced that its Board of Directors has initiated a stock repurchase plan on Thursday, February 12th that allows the company to buyback $0.00 in outstanding shares. This buyback authorization allows the company to reacquire shares of its stock through open market purchases. Shares buyback plans are often a sign that the company’s management believes its shares are undervalued.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently commented on TOST shares. BMO Capital Markets began coverage on Toast in a research note on Tuesday, April 21st. They set an “outperform” rating and a $35.00 target price on the stock. Loop Capital began coverage on Toast in a research report on Tuesday, March 31st. They issued a “hold” rating and a $26.00 target price for the company. DA Davidson reduced their price objective on Toast from $33.00 to $28.00 and set a “neutral” rating on the stock in a research note on Tuesday, May 12th. Truist Financial decreased their target price on shares of Toast from $36.00 to $30.00 and set a “buy” rating on the stock in a research note on Tuesday, May 12th. Finally, UBS Group lowered their price target on Toast from $40.00 to $34.00 and set a “buy” rating for the company in a research report on Friday, May 8th. One equities research analyst has rated the stock with a Strong Buy rating, sixteen have given 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 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.