Fox Run Management L.L.C. Lowers Holdings in Toast, Inc. $TOST

Fox Run Management L.L.C. decreased its holdings in Toast, Inc. (NYSE:TOST) by 52.8% in the 4th quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 26,626 shares of the company’s stock after selling 29,798 shares during the quarter. Fox Run Management L.L.C.’s holdings in Toast were worth $945,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also made changes to their positions in the business. Wynn Capital LLC boosted its stake in shares of Toast by 2.1% in the fourth quarter. Wynn Capital LLC now owns 13,755 shares of the company’s stock valued at $488,000 after purchasing an additional 280 shares during the period. Bridgewater Advisors Inc. boosted its stake in shares of Toast by 2.3% in the third quarter. Bridgewater Advisors Inc. now owns 13,107 shares of the company’s stock valued at $472,000 after purchasing an additional 294 shares during the period. BOKF NA boosted its stake in shares of Toast by 4.5% in the third quarter. BOKF NA now owns 8,023 shares of the company’s stock valued at $293,000 after purchasing an additional 345 shares during the period. The Manufacturers Life Insurance Company boosted its stake in shares of Toast by 1.7% in the second quarter. The Manufacturers Life Insurance Company now owns 22,857 shares of the company’s stock valued at $1,012,000 after purchasing an additional 380 shares during the period. Finally, Seven Mile Advisory boosted its stake in shares of Toast by 3.1% in the third quarter. Seven Mile Advisory now owns 12,689 shares of the company’s stock valued at $463,000 after purchasing an additional 381 shares during the period. Hedge funds and other institutional investors own 82.91% of the company’s stock.

Toast Stock Down 2.7%

Shares of Toast stock opened at $24.34 on Thursday. Toast, Inc. has a 52-week low of $22.26 and a 52-week high of $49.66. The company has a 50 day moving average of $26.04 and a 200 day moving average of $29.67. The company has a market capitalization of $12.56 billion, a P/E ratio of 37.44 and a beta of 1.76.

Toast announced that its board has authorized a share repurchase program on Thursday, February 12th that authorizes the company to buyback $0.00 in outstanding shares. This buyback authorization authorizes the company to buy shares of its stock through open market purchases. Shares buyback programs are typically an indication that the company’s management believes its shares are undervalued.

Insider Buying and Selling

In other Toast news, CFO Elena Gomez sold 8,929 shares of the firm’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 $233,850.51. Following the sale, the chief financial officer owned 173,064 shares of the company’s stock, valued at approximately $4,532,546.16. This trade represents a 4.91% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, General Counsel Brian R. Elworthy sold 108,000 shares of the firm’s stock in a transaction that occurred 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 sale, the general counsel directly owned 189,642 shares in the company, valued at approximately $4,909,831.38. The trade was a 36.29% decrease in their position. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders have sold 147,783 shares of company stock valued at $3,838,037 over the last ninety days. 10.03% of the stock is currently owned by corporate insiders.

Wall Street Analysts Forecast Growth

Several research analysts have recently commented on the stock. Canaccord Genuity Group set a $37.00 price objective on shares of Toast in a research note on Friday, February 13th. Mizuho lowered their price objective on shares of Toast from $45.00 to $38.00 and set an “outperform” rating for the company in a research note on Tuesday, May 12th. Rothschild & Co Redburn reiterated a “neutral” rating and issued a $35.00 price target on shares of Toast in a research note on Tuesday, May 12th. BMO Capital Markets reiterated an “outperform” rating on shares of Toast in a research note on Monday, June 1st. Finally, Citigroup decreased their price target on shares of Toast from $42.00 to $36.00 and set a “buy” rating for the company in a research note on Friday, May 8th. One research 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 MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus price target of $37.62.

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.