Counterpoint Mutual Funds LLC Raises Position in Toast, Inc. $TOST

Counterpoint Mutual Funds LLC grew its stake in Toast, Inc. (NYSE:TOST) by 129.1% in the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 32,265 shares of the company’s stock after purchasing an additional 18,180 shares during the period. Counterpoint Mutual Funds LLC’s holdings in Toast were worth $855,000 at the end of the most recent reporting period.

Several other institutional investors have also modified their holdings of the stock. Capital International Investors boosted 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 during the period. Jennison Associates LLC raised its holdings in Toast by 1.0% during the 4th quarter. Jennison Associates LLC now owns 15,157,955 shares of the company’s stock valued at $538,259,000 after buying an additional 157,394 shares during the period. Morgan Stanley raised its holdings in Toast by 6.7% during the 4th quarter. Morgan Stanley now owns 10,372,626 shares of the company’s stock valued at $368,332,000 after buying an additional 653,487 shares during the period. State Street Corp lifted its position in Toast by 3.0% in the fourth quarter. State Street Corp now owns 9,820,594 shares of the company’s stock worth $348,729,000 after buying an additional 282,282 shares during the last quarter. Finally, XN LP lifted its position in Toast by 50.8% in the fourth quarter. XN LP now owns 8,988,386 shares of the company’s stock worth $319,178,000 after buying an additional 3,029,856 shares during the last quarter. 82.91% of the stock is owned by institutional investors.

Toast Stock Down 0.1%

TOST opened at $28.79 on Friday. The business has a fifty day moving average of $25.64 and a 200 day moving average of $28.70. Toast, Inc. has a 52-week low of $22.26 and a 52-week high of $49.66. The stock has a market cap of $14.85 billion, a P/E ratio of 44.29 and a beta of 1.74.

Analysts Set New Price Targets

Several research firms have commented on TOST. UBS Group dropped their price objective on shares of Toast from $40.00 to $34.00 and set a “buy” rating for the company in a research note on Friday, May 8th. Weiss Ratings reissued a “hold (c)” rating on shares of Toast in a research note on Wednesday, May 20th. Morgan Stanley set a $45.00 target price on shares of Toast in a report on Friday, May 8th. Loop Capital began coverage on shares of Toast in a research note on Tuesday, March 31st. They set a “hold” rating and a $26.00 price target for the company. Finally, Wall Street Zen downgraded shares of Toast from a “buy” rating to a “hold” rating in a report on Saturday. Two equities research 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 company’s stock. According to data from MarketBeat, Toast presently has a consensus rating of “Moderate Buy” and an average target price of $37.62.

Insiders Place Their Bets

In other Toast news, General Counsel Brian R. Elworthy sold 108,000 shares of the stock in a transaction on Friday, May 29th. The stock was sold at an average price of $25.89, for a total value of $2,796,120.00. Following the sale, the general counsel owned 189,642 shares in the company, valued at $4,909,831.38. This trade represents a 36.29% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. 10.03% of the stock is currently owned by insiders.

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.