Alkeon Capital Management LLC Has $40.84 Million Stake in Toast, Inc. $TOST

Alkeon Capital Management LLC increased its position in Toast, Inc. (NYSE:TOST) by 27.8% in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 1,150,000 shares of the company’s stock after buying an additional 250,000 shares during the quarter. Alkeon Capital Management LLC owned 0.20% of Toast worth $40,836,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors and hedge funds have also added to or reduced their stakes in the company. Wynn Capital LLC boosted its holdings in shares of Toast by 2.1% during the 4th quarter. Wynn Capital LLC now owns 13,755 shares of the company’s stock worth $488,000 after buying an additional 280 shares in the last quarter. Bridgewater Advisors Inc. boosted its holdings in shares of Toast by 2.3% during the 3rd quarter. Bridgewater Advisors Inc. now owns 13,107 shares of the company’s stock worth $472,000 after buying an additional 294 shares in the last quarter. BOKF NA boosted its holdings in shares of Toast by 4.5% during the 3rd quarter. BOKF NA now owns 8,023 shares of the company’s stock worth $293,000 after buying an additional 345 shares in the last quarter. The Manufacturers Life Insurance Company boosted its holdings in shares of Toast by 1.7% during the 2nd quarter. The Manufacturers Life Insurance Company now owns 22,857 shares of the company’s stock worth $1,012,000 after buying an additional 380 shares in the last quarter. Finally, Seven Mile Advisory boosted its holdings in shares of Toast by 3.1% during the 3rd quarter. Seven Mile Advisory now owns 12,689 shares of the company’s stock worth $463,000 after buying an additional 381 shares in the last quarter. Institutional investors and hedge funds own 82.91% of the company’s stock.

Toast Trading Up 1.0%

NYSE TOST opened at $25.07 on Tuesday. The firm has a market capitalization of $12.94 billion, a P/E ratio of 38.58 and a beta of 1.76. The business has a fifty day simple moving average of $25.95 and a 200 day simple moving average of $29.49. Toast, Inc. has a 12 month low of $22.26 and a 12 month high of $49.66.

Insiders Place Their Bets

In other Toast news, CFO Elena Gomez sold 8,929 shares of the firm’s stock in a transaction dated Thursday, April 2nd. The stock was sold at an average price of $26.19, for a total value of $233,850.51. Following the completion of the transaction, the chief financial officer owned 173,064 shares in the company, valued at $4,532,546.16. This trade represents a 4.91% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, CRO Jonathan Vassil sold 6,438 shares of the firm’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 $168,611.22. Following the transaction, the executive directly owned 146,618 shares in the company, 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. Insiders sold a total of 147,783 shares of company stock worth $3,838,037 in the last three months. 10.03% of the stock is owned by corporate insiders.

Wall Street Analyst Weigh In

A number of research firms have issued reports on TOST. Wall Street Zen upgraded Toast from a “hold” rating to a “buy” rating in a report on Saturday. Morgan Stanley set a $45.00 target price on Toast in a report on Friday, May 8th. Mizuho cut their target price on Toast from $45.00 to $38.00 and set an “outperform” rating on the stock in a report on Tuesday, May 12th. UBS Group cut their target price on Toast from $40.00 to $34.00 and set a “buy” rating on the stock in a report on Friday, May 8th. Finally, Sanford C. Bernstein set a $39.00 target price on Toast in a report on Monday, February 16th. Two 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 stock. According to MarketBeat, Toast presently has a consensus rating of “Moderate Buy” and an average target price of $37.62.

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.