Toast, Inc. $TOST Stock Holdings Increased by Fiera Capital Corp

Fiera Capital Corp boosted its stake in shares of Toast, Inc. (NYSE:TOST) by 33.1% during the fourth quarter, according to its most recent disclosure with the SEC. The institutional investor owned 1,349,004 shares of the company’s stock after purchasing an additional 335,503 shares during the period. Fiera Capital Corp owned about 0.26% of Toast worth $47,903,000 at the end of the most recent reporting period.

Several other large investors have also recently added to or reduced their stakes in the stock. Capital International Inc. CA increased its stake in Toast by 2.4% in the 4th quarter. Capital International Inc. CA now owns 668,756 shares of the company’s stock valued at $23,748,000 after buying an additional 15,405 shares during the period. Havemeyer Place LP acquired a new stake in shares of Toast during the 4th quarter valued at $744,000. Vestcor Inc grew its holdings in shares of Toast by 33.2% during the 4th quarter. Vestcor Inc now owns 24,987 shares of the company’s stock valued at $887,000 after acquiring an additional 6,235 shares in the last quarter. BI Asset Management Fondsmaeglerselskab A S grew its holdings in shares of Toast by 31.7% during the 4th quarter. BI Asset Management Fondsmaeglerselskab A S now owns 31,703 shares of the company’s stock valued at $1,126,000 after acquiring an additional 7,624 shares in the last quarter. Finally, Pinebridge Investments LLC acquired a new position in shares of Toast in the fourth quarter worth $2,662,000. Institutional investors and hedge funds own 82.91% of the company’s stock.

Analyst Ratings Changes

TOST has been the subject of several recent research reports. Truist Financial cut their price objective on Toast from $36.00 to $30.00 and set a “buy” rating for the company in a report on Tuesday, May 12th. Wells Fargo & Company lowered their target price on Toast from $47.00 to $36.00 and set an “overweight” rating on the stock in a research note on Friday, February 13th. Canaccord Genuity Group set a $37.00 target price on Toast in a research report on Friday, February 13th. Morgan Stanley set a $45.00 price target on Toast in a research note on Friday, May 8th. Finally, UBS Group reduced their price target on Toast from $40.00 to $34.00 and set a “buy” rating for the company in a report on Friday, May 8th. One research analyst has rated the stock with a Strong Buy rating, seventeen have issued a Buy rating and eight have issued a Hold rating to the company’s stock. According to MarketBeat.com, Toast currently has a consensus rating of “Moderate Buy” and a consensus target price of $37.84.

Toast Stock Performance

TOST opened at $24.07 on Tuesday. The company has a market cap of $12.42 billion, a PE ratio of 37.03 and a beta of 1.76. The stock has a 50-day moving average of $26.09 and a 200-day moving average of $29.78. Toast, Inc. has a 52-week low of $22.26 and a 52-week high of $49.66.

Toast declared that its Board of Directors has approved a stock repurchase program on Thursday, February 12th that permits the company to repurchase $0.00 in outstanding shares. This repurchase authorization permits the company to buy shares of its stock through open market purchases. Stock repurchase programs are often a sign that the company’s board of directors believes its stock is undervalued.

Insider Transactions at Toast

In other news, CRO Jonathan Vassil sold 6,438 shares of Toast stock in a transaction that occurred on Thursday, April 2nd. The shares were sold at an average price of $26.19, for a total value of $168,611.22. Following the transaction, the executive owned 146,618 shares of the company’s stock, valued at $3,839,925.42. This trade represents a 4.21% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, CFO Elena Gomez sold 8,929 shares of the business’s stock in a transaction on Thursday, April 2nd. The stock was 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 of the company’s stock, valued at $4,532,546.16. The trade was a 4.91% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. In the last quarter, insiders sold 147,783 shares of company stock worth $3,838,037. 10.03% of the stock is currently owned by company insiders.

About Toast

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.