Toast, Inc. $TOST Shares Bought by AXQ Capital LP

AXQ Capital LP lifted its stake in Toast, Inc. (NYSE:TOST) by 380.2% in the 4th quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 27,084 shares of the company’s stock after purchasing an additional 21,444 shares during the quarter. AXQ Capital LP’s holdings in Toast were worth $962,000 as of its most recent SEC filing.

Other large investors also recently bought and sold shares of the company. Wynn Capital LLC lifted its holdings in shares of Toast by 2.1% during the fourth quarter. Wynn Capital LLC now owns 13,755 shares of the company’s stock worth $488,000 after purchasing an additional 280 shares during the period. Bridgewater Advisors Inc. boosted its holdings in shares of Toast by 2.3% in the 3rd quarter. Bridgewater Advisors Inc. now owns 13,107 shares of the company’s stock valued at $472,000 after acquiring an additional 294 shares during the last quarter. BOKF NA boosted its holdings in shares of Toast by 4.5% in the 3rd quarter. BOKF NA now owns 8,023 shares of the company’s stock valued at $293,000 after acquiring an additional 345 shares during the last quarter. The Manufacturers Life Insurance Company increased its stake in shares of Toast by 1.7% in the second quarter. The Manufacturers Life Insurance Company now owns 22,857 shares of the company’s stock worth $1,012,000 after acquiring an additional 380 shares during the period. Finally, Seven Mile Advisory increased its stake in shares of Toast by 3.1% in the third quarter. Seven Mile Advisory now owns 12,689 shares of the company’s stock worth $463,000 after acquiring an additional 381 shares during the period. Hedge funds and other institutional investors own 82.91% of the company’s stock.

Insider Buying and Selling

In other Toast news, CEO Aman Narang sold 13,463 shares of the firm’s stock in a transaction that occurred on Thursday, April 2nd. The stock was sold at an average price of $26.19, for a total value of $352,595.97. Following the sale, the chief executive officer directly owned 54,013 shares of the company’s stock, valued at approximately $1,414,600.47. This trade represents a 19.95% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, 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 of the company’s stock, valued at approximately $4,909,831.38. The trade was a 36.29% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders sold 147,783 shares of company stock valued at $3,838,037 in the last 90 days. Corporate insiders own 10.03% of the company’s stock.

Toast Stock Down 4.8%

NYSE:TOST opened at $26.40 on Wednesday. Toast, Inc. has a 52 week low of $22.26 and a 52 week high of $49.66. The stock’s 50-day moving average price is $26.28 and its 200-day moving average price is $30.16. The stock has a market capitalization of $13.62 billion, a PE ratio of 40.61 and a beta of 1.76.

Toast announced that its board has approved a share repurchase program on Thursday, February 12th that authorizes the company to buyback $0.00 in shares. This buyback authorization authorizes the company to reacquire shares of its stock through open market purchases. Shares buyback programs are usually a sign that the company’s leadership believes its shares are undervalued.

Analyst Upgrades and Downgrades

A number of research firms recently issued reports on TOST. Wells Fargo & Company decreased their target price on shares of Toast from $47.00 to $36.00 and set an “overweight” rating for the company in a research report on Friday, February 13th. Sanford C. Bernstein set a $39.00 price objective on Toast in a research note on Monday, February 16th. Canaccord Genuity Group set a $37.00 price objective on Toast in a report on Friday, February 13th. BMO Capital Markets reaffirmed an “outperform” rating on shares of Toast in a report on Monday. Finally, Morgan Stanley set a $45.00 price target on Toast in a research report on Friday, May 8th. One research analyst has rated the stock with a Strong Buy rating, seventeen have assigned a Buy rating and eight have issued a Hold rating to the company’s stock. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $37.84.

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.