Eurizon Capital SGR S.p.A. Invests $2.76 Million in Toast, Inc. $TOST

Eurizon Capital SGR S.p.A. bought a new position in shares of Toast, Inc. (NYSE:TOST) during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor bought 77,564 shares of the company’s stock, valued at approximately $2,758,000.

A number of other hedge funds also recently added to or reduced their stakes in TOST. NewEdge Advisors LLC lifted its holdings in Toast by 1,555.5% during the 1st quarter. NewEdge Advisors LLC now owns 17,432 shares of the company’s stock worth $578,000 after buying an additional 16,379 shares in the last quarter. Cerity Partners LLC lifted its holdings in Toast by 24.0% during the 2nd quarter. Cerity Partners LLC now owns 81,574 shares of the company’s stock worth $3,613,000 after buying an additional 15,774 shares in the last quarter. State Street Corp lifted its holdings in Toast by 2.7% during the 2nd quarter. State Street Corp now owns 9,212,889 shares of the company’s stock worth $408,039,000 after buying an additional 245,276 shares in the last quarter. Frontier Capital Management Co. LLC acquired a new stake in Toast during the 2nd quarter worth approximately $4,479,000. Finally, Sei Investments Co. lifted its holdings in Toast by 24.6% during the 2nd quarter. Sei Investments Co. now owns 1,030,007 shares of the company’s stock worth $45,619,000 after buying an additional 203,404 shares in the last quarter. 82.91% of the stock is currently owned by institutional investors and hedge funds.

Toast Trading Down 4.8%

Shares of NYSE:TOST opened at $26.40 on Wednesday. Toast, Inc. has a 52 week low of $22.26 and a 52 week high of $49.66. The company’s 50 day moving average is $26.28 and its two-hundred day moving average is $30.16. The company has a market cap of $13.62 billion, a PE ratio of 40.61 and a beta of 1.76.

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

Wall Street Analyst Weigh In

A number of equities research analysts have issued reports on the stock. Wall Street Zen lowered shares of Toast from a “buy” rating to a “hold” rating in a report on Saturday, May 9th. Morgan Stanley set a $45.00 target price on shares of Toast in a report on Friday, May 8th. BMO Capital Markets reiterated an “outperform” rating on shares of Toast in a report on Monday. Jefferies Financial Group set a $35.00 target price on shares of Toast in a report on Friday, February 13th. Finally, Citigroup dropped their price objective on shares of Toast from $42.00 to $36.00 and set a “buy” rating on the stock in a research report on Friday, May 8th. One equities 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 data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus price target of $37.84.

Insider Buying and Selling

In related news, General Counsel Brian R. Elworthy sold 108,000 shares of the stock in a transaction on Friday, May 29th. The shares were sold at an average price of $25.89, for a total value of $2,796,120.00. Following the transaction, the general counsel directly owned 189,642 shares of the company’s stock, valued at $4,909,831.38. This trade represents a 36.29% decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. 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 transaction of $168,611.22. Following the completion of 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 SEC filing for this sale provides additional information. In the last 90 days, insiders sold 147,783 shares of company stock worth $3,838,037. Corporate insiders own 10.03% of the company’s stock.

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.