State of Wyoming Boosts Holdings in Toast, Inc. $TOST

State of Wyoming raised its holdings in Toast, Inc. (NYSE:TOST) by 113.0% in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 43,435 shares of the company’s stock after buying an additional 23,047 shares during the quarter. State of Wyoming’s holdings in Toast were worth $1,542,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Allianz Asset Management GmbH grew its holdings in Toast by 322.0% in the 3rd quarter. Allianz Asset Management GmbH now owns 362,765 shares of the company’s stock valued at $13,245,000 after buying an additional 276,803 shares during the period. Candriam S.C.A. grew its holdings in Toast by 10.9% in the 3rd quarter. Candriam S.C.A. now owns 602,200 shares of the company’s stock valued at $21,986,000 after buying an additional 59,045 shares during the period. Citigroup Inc. grew its holdings in Toast by 17.2% in the 3rd quarter. Citigroup Inc. now owns 1,042,102 shares of the company’s stock valued at $38,047,000 after buying an additional 152,807 shares during the period. Quantbot Technologies LP acquired a new position in shares of Toast in the 3rd quarter valued at about $2,891,000. Finally, Capital International Investors lifted its stake 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 valued at $1,768,256,000 after purchasing an additional 3,351,545 shares in the last quarter. Hedge funds and other institutional investors own 82.91% of the company’s stock.

Analyst Ratings Changes

TOST has been the topic of several research analyst reports. Needham & Company LLC reduced their price objective on Toast from $60.00 to $35.00 and set a “buy” rating on the stock in a research note on Friday, February 13th. Truist Financial reduced their price objective on Toast from $36.00 to $30.00 and set a “buy” rating on the stock in a research note on Tuesday, May 12th. Oppenheimer reaffirmed an “outperform” rating and issued a $36.00 price objective on shares of Toast in a research note on Friday, May 8th. Citigroup reduced their price objective on Toast from $42.00 to $36.00 and set a “buy” rating on the stock in a research note on Friday, May 8th. Finally, Rothschild & Co Redburn reaffirmed a “neutral” rating and issued a $35.00 price objective on shares of Toast in a research note on Tuesday, May 12th. One investment analyst has rated the stock with a Strong Buy rating, seventeen have assigned a Buy rating and eight have given a Hold rating to the company. Based on data from MarketBeat, Toast has an average rating of “Moderate Buy” and an average price target of $37.84.

Toast Price Performance

NYSE TOST opened at $25.07 on Thursday. The business’s 50-day simple moving average is $26.20 and its 200-day simple moving average is $30.00. The firm has a market capitalization of $12.93 billion, a P/E ratio of 38.56 and a beta of 1.76. Toast, Inc. has a 1-year low of $22.26 and a 1-year high of $49.66.

Toast declared that its board has approved a stock repurchase program on Thursday, February 12th that authorizes the company to buyback $0.00 in outstanding shares. This buyback authorization authorizes the company to purchase shares of its stock through open market purchases. Shares buyback programs are often a sign that the company’s board believes its stock is undervalued.

Insider Activity

In related news, CFO Elena Gomez sold 8,929 shares of the business’s stock in a transaction that occurred on Thursday, April 2nd. The stock was sold at an average price of $26.19, for a total transaction of $233,850.51. Following the transaction, the chief financial officer directly owned 173,064 shares of the company’s stock, valued at approximately $4,532,546.16. The trade was a 4.91% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, CRO Jonathan Vassil sold 6,438 shares of the business’s stock in a transaction that occurred on Thursday, April 2nd. The stock was 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. This trade represents a 4.21% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders sold a total of 147,783 shares of company stock worth $3,838,037 in the last ninety days. 10.03% of the stock is currently owned by company insiders.

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.