Partners Group Holding AG Takes $6.57 Million Position in Toast, Inc. $TOST

Partners Group Holding AG acquired a new stake in Toast, Inc. (NYSE:TOST) during the fourth quarter, according to its most recent Form 13F filing with the SEC. The fund acquired 185,085 shares of the company’s stock, valued at approximately $6,572,000.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Allianz Asset Management GmbH lifted its stake in shares of Toast by 322.0% in the 3rd quarter. Allianz Asset Management GmbH now owns 362,765 shares of the company’s stock valued at $13,245,000 after purchasing an additional 276,803 shares during the period. Candriam S.C.A. lifted its stake in shares of Toast by 10.9% in the 3rd quarter. Candriam S.C.A. now owns 602,200 shares of the company’s stock valued at $21,986,000 after purchasing an additional 59,045 shares during the period. Citigroup Inc. lifted its stake in shares of Toast by 17.2% in the 3rd quarter. Citigroup Inc. now owns 1,042,102 shares of the company’s stock valued at $38,047,000 after purchasing an additional 152,807 shares during the period. Quantbot Technologies LP acquired a new position in shares of Toast in the 3rd quarter valued at about $2,891,000. Finally, Capital International Investors increased its position in Toast by 7.4% in the 3rd quarter. Capital International Investors now owns 48,428,060 shares of the company’s stock valued at $1,768,256,000 after buying an additional 3,351,545 shares in the last quarter. 82.91% of the stock is owned by institutional investors and hedge funds.

Toast Stock Performance

Shares of TOST opened at $23.26 on Wednesday. The stock has a 50 day moving average price of $26.97 and a two-hundred day moving average price of $30.94. The firm has a market capitalization of $12.00 billion, a P/E ratio of 35.79 and a beta of 1.81. Toast, Inc. has a 52 week low of $22.26 and a 52 week high of $49.66.

Toast announced that its Board of Directors 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 purchase shares of its stock through open market purchases. Shares buyback programs are often a sign that the company’s board believes its stock is undervalued.

Analyst Upgrades and Downgrades

A number of analysts recently commented on the company. Citigroup decreased their target price on Toast from $42.00 to $36.00 and set a “buy” rating for the company in a research report on Friday, May 8th. Rothschild & Co Redburn reaffirmed a “neutral” rating and issued a $35.00 target price on shares of Toast in a research report on Tuesday, May 12th. Wall Street Zen lowered Toast from a “buy” rating to a “hold” rating in a research report on Saturday, May 9th. UBS Group decreased their target price on Toast from $40.00 to $34.00 and set a “buy” rating for the company in a research report on Friday, May 8th. Finally, Sanford C. Bernstein set a $39.00 target price on Toast in a research report on Monday, February 16th. One research analyst has rated the stock with a Strong Buy rating, sixteen have issued a Buy rating and eight have given a Hold rating to the company. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus target price of $37.84.

Insider Activity

In other Toast news, CFO Elena Gomez sold 8,929 shares of the business’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 transaction of $233,850.51. Following the completion of the sale, the chief financial officer directly owned 173,064 shares of the company’s stock, valued at approximately $4,532,546.16. The trade was a 4.91% decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, President Stephen Fredette sold 7,289 shares of the business’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 $190,898.91. Following the sale, the president directly owned 920,985 shares of the company’s stock, valued at $24,120,597.15. This represents a 0.79% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. In the last three months, insiders sold 39,783 shares of company stock worth $1,041,917. Company insiders own 12.14% of the company’s stock.

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.