12 West Capital Management LP Buys 65,000 Shares of Toast, Inc. $TOST

12 West Capital Management LP boosted its stake in Toast, Inc. (NYSE:TOST) by 3.6% during the fourth quarter, Holdings Channel reports. The institutional investor owned 1,847,840 shares of the company’s stock after buying an additional 65,000 shares during the period. Toast comprises approximately 7.8% of 12 West Capital Management LP’s investment portfolio, making the stock its 5th biggest position. 12 West Capital Management LP’s holdings in Toast were worth $65,617,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also bought and sold shares of TOST. Wynn Capital LLC lifted its holdings in shares of Toast by 2.1% during the 4th quarter. Wynn Capital LLC now owns 13,755 shares of the company’s stock worth $488,000 after acquiring an additional 280 shares during the period. Bridgewater Advisors Inc. lifted its holdings in shares of Toast by 2.3% during the 3rd quarter. Bridgewater Advisors Inc. now owns 13,107 shares of the company’s stock worth $472,000 after acquiring an additional 294 shares during the period. BOKF NA lifted its holdings in shares of Toast by 4.5% during the 3rd quarter. BOKF NA now owns 8,023 shares of the company’s stock worth $293,000 after acquiring an additional 345 shares during the period. The Manufacturers Life Insurance Company lifted its holdings in shares of Toast by 1.7% during the 2nd 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 lifted its holdings in shares of Toast by 3.1% during the 3rd 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. Institutional investors and hedge funds own 82.91% of the company’s stock.

Wall Street Analyst Weigh In

Several equities analysts recently commented on the stock. Oppenheimer reissued an “outperform” rating and issued a $36.00 price objective on shares of Toast in a research note on Friday, May 8th. Zacks Research raised shares of Toast from a “hold” rating to a “strong-buy” rating in a research note on Tuesday, May 26th. DA Davidson dropped their price objective on shares of Toast from $33.00 to $28.00 and set a “neutral” rating for the company in a research note on Tuesday, May 12th. Loop Capital assumed coverage on shares of Toast in a research note on Tuesday, March 31st. They issued a “hold” rating and a $26.00 price objective for the company. Finally, Wall Street Zen raised shares of Toast from a “hold” rating to a “buy” rating in a research note on Saturday, June 13th. Two equities research analysts have 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, the stock presently has an average rating of “Moderate Buy” and an average price target of $37.62.

Toast Trading Down 2.6%

NYSE:TOST opened at $24.43 on Thursday. Toast, Inc. has a 12 month low of $22.26 and a 12 month high of $49.66. The stock has a market capitalization of $12.60 billion, a price-to-earnings ratio of 37.58 and a beta of 1.76. The firm has a fifty day simple moving average of $25.87 and a two-hundred day simple moving average of $29.36.

Insider Transactions at Toast

In related news, CRO Jonathan Vassil sold 6,438 shares of the firm’s stock in a transaction dated Thursday, April 2nd. The shares were sold at an average price of $26.19, for a total transaction of $168,611.22. Following the transaction, the executive directly 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 Securities & Exchange Commission, which is available at this link. Also, General Counsel Brian R. Elworthy sold 108,000 shares of the firm’s stock in a transaction dated Friday, May 29th. The shares were sold at an average price of $25.89, for a total transaction of $2,796,120.00. Following the transaction, the general counsel directly owned 189,642 shares in the company, valued at $4,909,831.38. The trade was a 36.29% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. In the last three months, insiders sold 147,783 shares of company stock valued at $3,838,037. Corporate insiders own 10.03% of the company’s stock.

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.