Counterpoint Mutual Funds LLC Buys 18,180 Shares of Toast, Inc. $TOST

Counterpoint Mutual Funds LLC boosted its position in shares of Toast, Inc. (NYSE:TOST) by 129.1% during the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 32,265 shares of the company’s stock after acquiring an additional 18,180 shares during the period. Counterpoint Mutual Funds LLC’s holdings in Toast were worth $855,000 at the end of the most recent quarter.

Several other large investors have also added to or reduced their stakes in TOST. Capital International Investors lifted its stake in shares of Toast by 7.4% during the 3rd quarter. Capital International Investors now owns 48,428,060 shares of the company’s stock valued at $1,768,256,000 after buying an additional 3,351,545 shares in the last quarter. Nordea Investment Management AB increased its stake in Toast by 843.0% in the 4th quarter. Nordea Investment Management AB now owns 1,307,158 shares of the company’s stock worth $46,888,000 after buying an additional 1,168,539 shares in the last quarter. Victory Capital Management Inc. increased its stake in Toast by 207.8% in the 3rd quarter. Victory Capital Management Inc. now owns 777,861 shares of the company’s stock worth $28,400,000 after buying an additional 525,159 shares in the last quarter. American Century Companies Inc. raised its holdings in Toast by 192.8% during the third quarter. American Century Companies Inc. now owns 1,485,601 shares of the company’s stock valued at $54,239,000 after acquiring an additional 978,225 shares during the period. Finally, Dynamic Technology Lab Private Ltd raised its holdings in Toast by 227.8% during the third quarter. Dynamic Technology Lab Private Ltd now owns 69,655 shares of the company’s stock valued at $2,543,000 after acquiring an additional 48,405 shares during the period. Hedge funds and other institutional investors own 82.91% of the company’s stock.

Toast Stock Performance

TOST stock opened at $28.79 on Friday. The firm has a fifty day moving average price of $25.64 and a 200 day moving average price of $28.70. Toast, Inc. has a fifty-two week low of $22.26 and a fifty-two week high of $49.66. The firm has a market cap of $14.85 billion, a PE ratio of 44.29 and a beta of 1.74.

Insider Buying and Selling

In other Toast news, General Counsel Brian R. Elworthy sold 108,000 shares of Toast 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 completion of 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 sale was disclosed in a filing with the SEC, which is available at this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. 10.03% of the stock is owned by company insiders.

Wall Street Analyst Weigh In

TOST has been the subject of a number of recent analyst reports. BMO Capital Markets reaffirmed an “outperform” rating on shares of Toast in a research note on Monday, June 1st. Piper Sandler initiated coverage on Toast in a research note on Wednesday, June 10th. They set an “overweight” rating and a $32.00 target price on the stock. UBS Group lowered their price target on Toast from $40.00 to $34.00 and set a “buy” rating on the stock in a report on Friday, May 8th. Truist Financial dropped their price target on Toast from $36.00 to $30.00 and set a “buy” rating for the company in a research note on Tuesday, May 12th. Finally, Citigroup cut their price objective on shares of Toast from $42.00 to $36.00 and set a “buy” rating for the company 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 assigned a Hold rating to the stock. Based on data from MarketBeat, the stock currently has a consensus 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.