Geode Capital Management LLC Has $307.21 Million Stock Holdings in Toast, Inc. $TOST

Geode Capital Management LLC lifted its stake in shares of Toast, Inc. (NYSE:TOST) by 2.0% in the fourth quarter, according to the company in its most recent filing with the SEC. The fund owned 8,675,056 shares of the company’s stock after buying an additional 169,230 shares during the quarter. Geode Capital Management LLC’s holdings in Toast were worth $307,214,000 as of its most recent SEC filing.

Other hedge funds also recently modified their holdings of the company. Central Pacific Bank Trust Division lifted its stake in shares of Toast by 123.5% during the 4th quarter. Central Pacific Bank Trust Division now owns 943 shares of the company’s stock worth $33,000 after buying an additional 521 shares during the last quarter. Smartleaf Asset Management LLC raised its stake in Toast by 59.1% in the 3rd quarter. Smartleaf Asset Management LLC now owns 1,182 shares of the company’s stock worth $44,000 after purchasing an additional 439 shares in the last quarter. Cornerstone Planning Group LLC raised its stake in Toast by 8,807.1% in the 4th quarter. Cornerstone Planning Group LLC now owns 1,247 shares of the company’s stock worth $44,000 after purchasing an additional 1,233 shares in the last quarter. Kohmann Bosshard Financial Services LLC acquired a new stake in Toast in the 4th quarter worth about $45,000. Finally, GHP Investment Advisors Inc. raised its position in shares of Toast by 40.0% in the fourth quarter. GHP Investment Advisors Inc. now owns 1,400 shares of the company’s stock valued at $50,000 after buying an additional 400 shares in the last quarter. Institutional investors and hedge funds own 82.91% of the company’s stock.

Insider Activity

In other Toast news, CEO Aman Narang sold 13,463 shares of the business’s stock in a transaction that occurred on Thursday, April 2nd. The shares were sold at an average price of $26.19, for a total transaction of $352,595.97. Following the sale, the chief executive officer directly owned 54,013 shares of the company’s stock, valued at $1,414,600.47. The trade was a 19.95% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, General Counsel Brian R. Elworthy sold 3,664 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 $95,960.16. Following the sale, the general counsel directly owned 243,642 shares in the company, valued at $6,380,983.98. The trade was a 1.48% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Over the last ninety days, insiders sold 39,783 shares of company stock worth $1,041,917. Company insiders own 10.03% of the company’s stock.

Toast Price Performance

TOST stock opened at $27.66 on Tuesday. The company has a 50 day simple moving average of $26.28 and a 200 day simple moving average of $30.16. The stock has a market cap of $14.27 billion, a price-to-earnings ratio of 42.56 and a beta of 1.76. Toast, Inc. has a 1 year low of $22.26 and a 1 year high of $49.66.

Toast announced that its board has authorized a share buyback program on Thursday, February 12th that allows the company to buyback $0.00 in outstanding shares. This buyback authorization allows the company to purchase shares of its stock through open market purchases. Shares buyback programs are generally a sign that the company’s board of directors believes its stock is undervalued.

Wall Street Analyst Weigh In

A number of equities research analysts have recently weighed in on the stock. The Goldman Sachs Group dropped their price target on shares of Toast from $43.00 to $31.00 and set a “neutral” rating for the company in a research report on Tuesday, February 17th. Wells Fargo & Company dropped their price target on shares of Toast from $47.00 to $36.00 and set an “overweight” rating for the company in a research report on Friday, February 13th. Loop Capital assumed coverage on shares of Toast in a research report on Tuesday, March 31st. They issued a “hold” rating and a $26.00 price target for the company. Jefferies Financial Group set a $35.00 price target on shares of Toast in a research report on Friday, February 13th. Finally, Morgan Stanley set a $45.00 price target on shares of Toast in a research report on Friday, May 8th. One investment analyst has rated the stock with a Strong Buy rating, seventeen have given a Buy rating and eight have given a Hold rating to the company’s stock. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and an average target price of $37.84.

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.