Toast, Inc. $TOST Shares Sold by Fox Run Management L.L.C.

Fox Run Management L.L.C. reduced its position in shares of Toast, Inc. (NYSE:TOST) by 52.8% in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 26,626 shares of the company’s stock after selling 29,798 shares during the period. Fox Run Management L.L.C.’s holdings in Toast were worth $945,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently bought and sold shares of TOST. NewEdge Advisors LLC increased its position in Toast by 1,555.5% during the first quarter. NewEdge Advisors LLC now owns 17,432 shares of the company’s stock worth $578,000 after purchasing an additional 16,379 shares during the last quarter. Cerity Partners LLC increased its position in Toast by 24.0% during the second quarter. Cerity Partners LLC now owns 81,574 shares of the company’s stock worth $3,613,000 after purchasing an additional 15,774 shares during the last quarter. State Street Corp increased its position in Toast by 2.7% during the second quarter. State Street Corp now owns 9,212,889 shares of the company’s stock worth $408,039,000 after purchasing an additional 245,276 shares during the last quarter. Frontier Capital Management Co. LLC acquired a new stake in Toast during the second quarter worth about $4,479,000. Finally, Sei Investments Co. increased its position in Toast by 24.6% during the second quarter. Sei Investments Co. now owns 1,030,007 shares of the company’s stock worth $45,619,000 after purchasing an additional 203,404 shares during the last quarter. 82.91% of the stock is currently owned by institutional investors and hedge funds.

Toast Price Performance

Shares of TOST opened at $24.34 on Thursday. 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 $12.56 billion, a PE ratio of 37.44 and a beta of 1.76. The firm has a 50-day simple moving average of $26.04 and a two-hundred day simple moving average of $29.67.

Toast declared that its board has approved a stock buyback plan on Thursday, February 12th that allows the company to repurchase $0.00 in shares. This repurchase authorization allows the company to buy shares of its stock through open market purchases. Shares repurchase plans are usually an indication that the company’s board believes its stock is undervalued.

Insider Buying and Selling at Toast

In other Toast news, General Counsel Brian R. Elworthy sold 108,000 shares of Toast stock in a transaction dated Friday, May 29th. The shares were sold at an average price of $25.89, for a total transaction of $2,796,120.00. Following the completion of the sale, the general counsel directly 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 sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at 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 Toast stock in a transaction dated Thursday, April 2nd. The shares were sold at an average price of $26.19, for a total transaction of $168,611.22. Following the sale, the executive owned 146,618 shares of the company’s stock, valued at approximately $3,839,925.42. This represents a 4.21% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Over the last quarter, insiders sold 147,783 shares of company stock valued at $3,838,037. 10.03% of the stock is currently owned by company insiders.

Wall Street Analysts Forecast Growth

Several equities research analysts recently issued reports on TOST shares. Needham & Company LLC cut their price objective on shares of Toast from $60.00 to $35.00 and set a “buy” rating for the company in a research report on Friday, February 13th. Loop Capital started coverage on shares of Toast in a research report on Tuesday, March 31st. They set a “hold” rating and a $26.00 price objective for the company. Oppenheimer restated an “outperform” rating and set a $36.00 price objective on shares of Toast in a research report on Friday, May 8th. Piper Sandler set a $32.00 price objective on shares of Toast in a research report on Wednesday. Finally, UBS Group cut their price objective on shares of Toast from $40.00 to $34.00 and set a “buy” rating for the company in a research report on Friday, May 8th. One research analyst has rated the stock with a Strong Buy rating, seventeen have issued a Buy rating and eight have given a Hold rating to the company. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price 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.