Arrowstreet Capital Limited Partnership Buys 235,572 Shares of Toast, Inc. $TOST

Arrowstreet Capital Limited Partnership raised its holdings in Toast, Inc. (NYSE:TOST) by 5.4% during the 4th quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 4,579,046 shares of the company’s stock after buying an additional 235,572 shares during the period. Arrowstreet Capital Limited Partnership’s holdings in Toast were worth $162,602,000 at the end of the most recent quarter.

A number of other large investors also recently made changes to their positions in the company. NewEdge Advisors LLC boosted its holdings in shares of Toast by 1,555.5% in the 1st quarter. NewEdge Advisors LLC now owns 17,432 shares of the company’s stock valued at $578,000 after purchasing 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 during the period. State Street Corp raised its position in shares of Toast by 2.7% in the 2nd quarter. State Street Corp now owns 9,212,889 shares of the company’s stock worth $408,039,000 after acquiring an additional 245,276 shares in the last quarter. Frontier Capital Management Co. LLC bought a new position in shares of Toast in the 2nd quarter worth about $4,479,000. Finally, Sei Investments Co. raised its position in shares of Toast by 24.6% in the 2nd quarter. Sei Investments Co. now owns 1,030,007 shares of the company’s stock worth $45,619,000 after acquiring an additional 203,404 shares in the last quarter. Institutional investors own 82.91% of the company’s stock.

Insider Buying and Selling at Toast

In related news, President Stephen Fredette sold 7,289 shares of Toast stock in a transaction on Thursday, April 2nd. The shares were sold at an average price of $26.19, for a total transaction of $190,898.91. Following the transaction, the president owned 920,985 shares in the company, valued at approximately $24,120,597.15. The trade was a 0.79% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, CFO Elena Gomez sold 8,929 shares of Toast stock in a transaction 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 completion of the sale, the chief financial officer owned 173,064 shares in the company, valued at approximately $4,532,546.16. This represents a 4.91% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Over the last ninety days, insiders have sold 147,783 shares of company stock worth $3,838,037. Insiders own 10.03% of the company’s stock.

Toast Stock Up 1.0%

Shares of TOST opened at $25.07 on Tuesday. The company has a market capitalization of $12.94 billion, a P/E ratio of 38.58 and a beta of 1.76. The firm has a 50 day moving average of $25.95 and a 200 day moving average of $29.49. Toast, Inc. has a twelve month low of $22.26 and a twelve month high of $49.66.

Analysts Set New Price Targets

TOST has been the subject of several research reports. Morgan Stanley set a $45.00 target price on Toast in a research note 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 research note on Tuesday, May 12th. 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. BMO Capital Markets reissued an “outperform” rating on shares of Toast in a report on Monday, June 1st. Finally, UBS Group lowered their target price on shares of Toast from $40.00 to $34.00 and set a “buy” rating on the stock in a report on Friday, May 8th. Two equities research analysts have rated the stock with a Strong Buy rating, seventeen have issued a Buy rating and eight have given a Hold rating to the company’s stock. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus price target of $37.62.

Toast 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.