Hsbc Holdings PLC Raises Stock Holdings in Toast, Inc. $TOST

Hsbc Holdings PLC increased its stake in Toast, Inc. (NYSE:TOST) by 16.8% during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 181,371 shares of the company’s stock after purchasing an additional 26,032 shares during the period. Hsbc Holdings PLC’s holdings in Toast were worth $6,455,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also bought and sold shares of the company. NewEdge Advisors LLC grew its stake in Toast by 1,555.5% in the 1st quarter. NewEdge Advisors LLC now owns 17,432 shares of the company’s stock worth $578,000 after buying an additional 16,379 shares in the last quarter. Cerity Partners LLC raised its position in shares of Toast by 24.0% during the 2nd quarter. Cerity Partners LLC now owns 81,574 shares of the company’s stock valued at $3,613,000 after buying an additional 15,774 shares in the last quarter. State Street Corp lifted its holdings in shares of Toast by 2.7% during the 2nd quarter. State Street Corp now owns 9,212,889 shares of the company’s stock worth $408,039,000 after acquiring an additional 245,276 shares during the last quarter. Frontier Capital Management Co. LLC bought a new stake in shares of Toast during the 2nd quarter worth $4,479,000. Finally, Sei Investments Co. grew its position in Toast by 24.6% in the second quarter. Sei Investments Co. now owns 1,030,007 shares of the company’s stock worth $45,619,000 after acquiring an additional 203,404 shares in the last quarter. 82.91% of the stock is owned by hedge funds and other institutional investors.

Insider Activity at Toast

In related news, General Counsel Brian R. Elworthy sold 108,000 shares of the firm’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 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. This trade represents a 36.29% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, President Stephen Fredette sold 7,289 shares of Toast 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 $190,898.91. Following the completion of the transaction, the president directly owned 920,985 shares in the company, valued at $24,120,597.15. This trade represents a 0.79% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders sold a total of 147,783 shares of company stock worth $3,838,037 over the last three months. Corporate insiders own 10.03% of the company’s stock.

Toast Trading Up 5.4%

Shares of NYSE:TOST opened at $27.16 on Friday. The stock has a market capitalization of $14.01 billion, a P/E ratio of 41.78 and a beta of 1.76. The stock’s 50-day moving average price is $25.69 and its 200-day moving average price is $28.94. Toast, Inc. has a 12-month low of $22.26 and a 12-month high of $49.66.

Analysts Set New Price Targets

A number of equities research analysts have weighed in on TOST shares. Loop Capital assumed coverage on Toast in a research report on Tuesday, March 31st. They set a “hold” rating and a $26.00 price target on the stock. Zacks Research upgraded Toast from a “hold” rating to a “strong-buy” rating in a report on Tuesday, May 26th. Wall Street Zen upgraded Toast from a “hold” rating to a “buy” rating in a research report on Saturday, June 13th. Rothschild & Co Redburn reissued a “neutral” rating and set a $35.00 price objective on shares of Toast in a report on Tuesday, May 12th. Finally, Oppenheimer restated an “outperform” rating and issued a $36.00 target price on shares of Toast in a research report on Friday, May 8th. Two investment 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 stock. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus price target of $37.62.

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.