Globeflex Capital L P Has $4.38 Million Position in Toast, Inc. $TOST

Globeflex Capital L P lowered its holdings in Toast, Inc. (NYSE:TOST) by 15.9% in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 123,446 shares of the company’s stock after selling 23,347 shares during the quarter. Globeflex Capital L P’s holdings in Toast were worth $4,384,000 at the end of the most recent quarter.

Several other hedge funds have also bought and sold shares of TOST. Central Pacific Bank Trust Division grew its position in Toast by 123.5% in the 4th quarter. Central Pacific Bank Trust Division now owns 943 shares of the company’s stock valued at $33,000 after purchasing an additional 521 shares during the period. Smartleaf Asset Management LLC grew its position in Toast by 59.1% in the 3rd quarter. Smartleaf Asset Management LLC now owns 1,182 shares of the company’s stock valued at $44,000 after purchasing an additional 439 shares during the period. Cornerstone Planning Group LLC grew its position in Toast by 8,807.1% in the 4th quarter. Cornerstone Planning Group LLC now owns 1,247 shares of the company’s stock valued at $44,000 after purchasing an additional 1,233 shares during the period. Kohmann Bosshard Financial Services LLC acquired a new stake in Toast in the 4th quarter valued at $45,000. Finally, GHP Investment Advisors Inc. grew its position in Toast by 40.0% in the 4th quarter. GHP Investment Advisors Inc. now owns 1,400 shares of the company’s stock valued at $50,000 after purchasing an additional 400 shares during the period. Institutional investors and hedge funds own 82.91% of the company’s stock.

Toast Trading Up 0.4%

Shares of NYSE:TOST opened at $25.18 on Friday. The stock’s fifty day simple moving average is $26.17 and its two-hundred day simple moving average is $29.92. Toast, Inc. has a 1-year low of $22.26 and a 1-year high of $49.66. The stock has a market cap of $12.99 billion, a PE ratio of 38.74 and a beta of 1.76.

Toast declared that its Board of Directors has authorized a share buyback program 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 programs are often a sign that the company’s board believes its shares are undervalued.

Analyst Ratings Changes

Several analysts recently issued reports on the stock. BMO Capital Markets reissued an “outperform” rating on shares of Toast in a research report on Monday. UBS Group dropped their price objective on Toast from $40.00 to $34.00 and set a “buy” rating on the stock in a research note on Friday, May 8th. Citigroup dropped 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. Jefferies Financial Group set a $35.00 price objective on Toast in a research note on Friday, February 13th. Finally, Canaccord Genuity Group set a $37.00 price objective on Toast in a research note on Friday, February 13th. One equities research analyst has rated the stock with a Strong Buy rating, seventeen have assigned a Buy rating and eight have issued a Hold rating to the company. According to MarketBeat, Toast presently has a consensus rating of “Moderate Buy” and a consensus target price of $37.84.

Insider Buying and Selling

In related news, CFO Elena Gomez sold 8,929 shares of the business’s stock in a transaction dated Thursday, April 2nd. The shares were sold at an average price of $26.19, for a total value 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 sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, President Stephen Fredette sold 7,289 shares of the business’s stock in a transaction dated Thursday, April 2nd. The stock was sold at an average price of $26.19, for a total transaction of $190,898.91. Following the completion of the transaction, the president directly owned 920,985 shares in the company, valued at $24,120,597.15. This trade represents a 0.79% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders sold 147,783 shares of company stock worth $3,838,037 in the last ninety days. 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.