Apis Capital Advisors LLC Acquires New Holdings in Toast, Inc. $TOST

Apis Capital Advisors LLC acquired a new stake in Toast, Inc. (NYSE:TOST) in the 4th quarter, according to its most recent filing with the SEC. The fund acquired 242,000 shares of the company’s stock, valued at approximately $8,593,000. Toast accounts for about 1.5% of Apis Capital Advisors LLC’s investment portfolio, making the stock its 22nd biggest holding.

Several other institutional investors and hedge funds have also modified their holdings of the business. Wynn Capital LLC grew its position in shares of Toast by 2.1% in the 4th quarter. Wynn Capital LLC now owns 13,755 shares of the company’s stock valued at $488,000 after purchasing an additional 280 shares during the period. Bridgewater Advisors Inc. grew its position 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 purchasing an additional 294 shares during the period. BOKF NA grew its position 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 purchasing an additional 345 shares during the period. The Manufacturers Life Insurance Company grew its position in shares of Toast by 1.7% in the 2nd quarter. The Manufacturers Life Insurance Company now owns 22,857 shares of the company’s stock valued at $1,012,000 after purchasing an additional 380 shares during the period. Finally, Seven Mile Advisory grew its position in shares of Toast by 3.1% in the 3rd quarter. Seven Mile Advisory now owns 12,689 shares of the company’s stock valued at $463,000 after purchasing an additional 381 shares during the period. 82.91% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several equities analysts recently issued reports on TOST shares. Rothschild & Co Redburn reiterated a “neutral” rating and issued a $35.00 price objective on shares of Toast in a research report on Tuesday, May 12th. Weiss Ratings reiterated a “hold (c)” rating on shares of Toast in a research report on Wednesday, May 20th. UBS Group reduced 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. Wall Street Zen raised shares of Toast from a “hold” rating to a “buy” rating in a research note on Saturday, June 13th. Finally, Mizuho lowered their price objective on shares of Toast from $45.00 to $38.00 and set an “outperform” rating on the stock in a report on Tuesday, May 12th. Two investment analysts have rated the stock with a Strong Buy rating, seventeen have assigned a Buy rating and eight have given a Hold rating to the stock. According to data from MarketBeat.com, Toast presently has an average rating of “Moderate Buy” and a consensus target price of $37.62.

Toast Trading Down 2.6%

NYSE TOST opened at $24.43 on Thursday. The company has a market cap of $12.60 billion, a PE ratio of 37.58 and a beta of 1.76. Toast, Inc. has a 12 month low of $22.26 and a 12 month high of $49.66. The stock has a 50 day moving average of $25.87 and a 200-day moving average of $29.36.

Insider Buying and Selling

In other news, CEO Aman Narang sold 13,463 shares of the 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 completion of the sale, the chief executive officer owned 54,013 shares of the company’s stock, valued at approximately $1,414,600.47. This represents a 19.95% decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, CRO Jonathan Vassil sold 6,438 shares of the 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 completion of the sale, the executive directly owned 146,618 shares of the company’s stock, valued at approximately $3,839,925.42. The trade was a 4.21% decrease in their position. The SEC filing for this sale provides additional information. Insiders have sold a total of 147,783 shares of company stock worth $3,838,037 in the last quarter. 10.03% of the stock is owned by company 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.