Azzad Asset Management Inc. ADV Purchases 17,653 Shares of Toast, Inc. $TOST

Azzad Asset Management Inc. ADV increased its position in shares of Toast, Inc. (NYSE:TOST) by 53.3% during the 1st quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 50,773 shares of the company’s stock after purchasing an additional 17,653 shares during the quarter. Azzad Asset Management Inc. ADV’s holdings in Toast were worth $1,346,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Alliancebernstein L.P. lifted its position in shares of Toast by 2,432.8% during the 3rd quarter. Alliancebernstein L.P. now owns 8,215,758 shares of the company’s stock worth $299,957,000 after buying an additional 7,891,383 shares in the last quarter. Norges Bank bought a new position in shares of Toast in the fourth quarter valued at approximately $202,808,000. ValueAct Holdings L.P. increased its position in shares of Toast by 135.9% during the fourth quarter. ValueAct Holdings L.P. now owns 8,015,277 shares of the company’s stock valued at $284,622,000 after acquiring an additional 4,618,077 shares during the last quarter. XN LP increased its position in shares of Toast by 50.8% during the fourth quarter. XN LP now owns 8,988,386 shares of the company’s stock valued at $319,178,000 after acquiring an additional 3,029,856 shares during the last quarter. Finally, Worldquant Millennium Advisors LLC lifted its holdings in Toast by 343.6% during the second quarter. Worldquant Millennium Advisors LLC now owns 1,792,209 shares of the company’s stock worth $79,377,000 after acquiring an additional 1,388,210 shares during the period. Hedge funds and other institutional investors own 82.91% of the company’s stock.

Analyst Upgrades and Downgrades

Several research analysts have weighed in on TOST shares. Robert W. Baird boosted their price objective on Toast from $30.00 to $33.00 and gave the stock a “neutral” rating in a research report on Wednesday. UBS Group lowered their target price on Toast from $40.00 to $34.00 and set a “buy” rating on the stock in a research note on Friday, May 8th. Oppenheimer reissued an “outperform” rating and issued a $36.00 price target on shares of Toast in a report on Friday, May 8th. BMO Capital Markets restated an “outperform” rating on shares of Toast in a research report on Monday, June 1st. Finally, Weiss Ratings restated a “hold (c)” rating on shares of Toast in a report on Wednesday, May 20th. Two investment 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 company. According to MarketBeat.com, Toast presently has a consensus rating of “Moderate Buy” and an average target price of $37.59.

Toast Trading Up 1.6%

Shares of NYSE TOST opened at $29.32 on Friday. The stock has a fifty day simple moving average of $25.69 and a two-hundred day simple moving average of $28.48. Toast, Inc. has a 1-year low of $22.26 and a 1-year high of $49.66. The firm has a market cap of $15.13 billion, a price-to-earnings ratio of 45.12 and a beta of 1.74.

Trending Headlines about Toast

Here are the key news stories impacting Toast this week:

• Positive Sentiment: Barclays upgraded Toast (TOST) to strong-buy, adding to the bullish view that recent growth, improving margins, and AI-driven product momentum could support the company’s longer-term outlook.
• Positive Sentiment: Goldman Sachs also upgraded Toast (TOST) to Buy, citing new product initiatives and market expansion efforts as reasons for continued growth potential. Toast upgraded to Buy at Goldman Sachs on new product and market expansion efforts
• Neutral Sentiment: Wall Street consensus remains constructive, with analysts still rating Toast (TOST) a Moderate Buy overall, suggesting expectations for further business growth remain intact despite the stock’s recent run.
• Neutral Sentiment: Several insider sales, including a pre-planned transaction by CRO Jonathan Vassil, may slightly pressure sentiment, but the activity does not appear to indicate a fundamental change in the business. Toast (NYSE:TOST) CRO Jonathan Vassil Sells 3,150 Shares of Stock
• Neutral Sentiment: Industry commentary on debit-network competition and payments infrastructure points to a changing merchant-payments landscape, which could affect Toast (TOST) over time but is not an immediate catalyst. Fiserv’s Debit Network Talks Raise a Bigger Question for Visa and Mastercard (TOST)
• Negative Sentiment: Zacks Research downgraded Toast (TOST) from Strong-Buy to Hold, reflecting some near-term caution after the stock’s recent gains and concerns about costs and restaurant demand. Zacks.com
• Negative Sentiment: One article argued that Toast (TOST) still looks expensive even with fair-value support, reinforcing valuation concerns that could limit upside. Toast (TOST) Stock Looks Rich Even With Fair Value Support

Insider Activity

In other news, General Counsel Brian R. Elworthy sold 108,000 shares of the company’s stock in a transaction on Friday, May 29th. The stock was sold at an average price of $25.89, for a total transaction of $2,796,120.00. Following the transaction, the general counsel owned 189,642 shares of the company’s stock, valued at $4,909,831.38. This represents a 36.29% decrease in their position. The sale was disclosed in a 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 6,647 shares of Toast stock in a transaction dated Thursday, July 2nd. The stock was sold at an average price of $28.85, for a total value of $191,765.95. Following the completion of the sale, the executive directly owned 69,966 shares of the company’s stock, valued at approximately $2,018,519.10. This trade represents a 8.68% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Over the last three months, insiders have sold 159,265 shares of company stock worth $4,278,832. 10.03% of the stock is owned by company insiders.

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.