Toast, Inc. $TOST Shares Purchased by Hsbc Holdings PLC

Hsbc Holdings PLC raised its position in Toast, Inc. (NYSE:TOST) by 16.8% during the fourth quarter, according to its most recent filing with the SEC. The institutional investor owned 181,371 shares of the company’s stock after purchasing an additional 26,032 shares during the period. Hsbc Holdings PLC’s holdings in Toast were worth $6,455,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in the business. Bayban purchased a new position in shares of Toast in the fourth quarter worth about $25,000. SHP Wealth Management acquired a new position in Toast during the fourth quarter worth about $29,000. Strive Financial Group LLC purchased a new stake in Toast during the 4th quarter valued at about $29,000. Central Pacific Bank Trust Division grew its stake in Toast by 123.5% during the 4th quarter. Central Pacific Bank Trust Division now owns 943 shares of the company’s stock valued at $33,000 after acquiring an additional 521 shares in the last quarter. Finally, Silicon Valley Capital Partners acquired a new stake in Toast in the 4th quarter valued at about $36,000. Institutional investors and hedge funds own 82.91% of the company’s stock.

Toast Price Performance

NYSE:TOST opened at $28.58 on Thursday. The firm has a market capitalization of $14.75 billion, a price-to-earnings ratio of 43.97 and a beta of 1.74. The company’s 50-day moving average is $25.68 and its two-hundred day moving average is $28.52. Toast, Inc. has a 1-year low of $22.26 and a 1-year high of $49.66.

Analyst Upgrades and Downgrades

A number of research firms have weighed in on TOST. BMO Capital Markets reissued an “outperform” rating on shares of Toast in a research note on Monday, June 1st. UBS Group dropped their price target on Toast from $40.00 to $34.00 and set a “buy” rating for the company in a research report on Friday, May 8th. Morgan Stanley set a $45.00 price target on Toast in a report on Friday, May 8th. Wall Street Zen downgraded Toast from a “buy” rating to a “hold” rating in a research report on Saturday, July 4th. Finally, Zacks Research raised Toast from a “hold” rating to a “strong-buy” rating in a research note on Tuesday, May 26th. Two research analysts have rated the stock with a Strong Buy rating, seventeen have assigned a Buy rating and eight have assigned a Hold rating to the company’s stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $37.41.

Insider Transactions at Toast

In related news, General Counsel Brian R. Elworthy sold 108,000 shares of the company’s stock in a transaction that occurred on Friday, May 29th. The stock was sold at an average price of $25.89, for a total value of $2,796,120.00. Following the transaction, the general counsel directly owned 189,642 shares in the company, valued at approximately $4,909,831.38. This represents a 36.29% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, President Stephen Fredette sold 9,146 shares of the stock in a transaction that occurred on Thursday, July 2nd. The stock was sold at an average price of $28.85, for a total value of $263,862.10. Following the completion of the transaction, the president owned 931,449 shares of the company’s stock, valued at $26,872,303.65. The trade was a 0.97% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Insiders sold a total of 156,115 shares of company stock valued at $4,184,238 in the last ninety days. 10.03% of the stock is currently owned by corporate insiders.

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.