WCG Wealth Advisors LLC Acquires New Position in Toast, Inc. $TOST

WCG Wealth Advisors LLC bought a new position in shares of Toast, Inc. (NYSE:TOST) in the fourth quarter, HoldingsChannel reports. The firm bought 165,435 shares of the company’s stock, valued at approximately $5,875,000.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in the business. CIBC Asset Management Inc raised its position in Toast by 58.7% during the fourth quarter. CIBC Asset Management Inc now owns 21,678 shares of the company’s stock worth $770,000 after acquiring an additional 8,015 shares during the last quarter. Natixis Advisors LLC raised its position in Toast by 20.0% during the fourth quarter. Natixis Advisors LLC now owns 163,802 shares of the company’s stock worth $5,817,000 after acquiring an additional 27,328 shares during the last quarter. AXQ Capital LP raised its position in Toast by 380.2% during the fourth quarter. AXQ Capital LP now owns 27,084 shares of the company’s stock worth $962,000 after acquiring an additional 21,444 shares during the last quarter. BNP Paribas Financial Markets raised its position in Toast by 17.6% during the fourth quarter. BNP Paribas Financial Markets now owns 1,824,558 shares of the company’s stock worth $64,790,000 after acquiring an additional 273,084 shares during the last quarter. Finally, Catalyst Capital Advisors LLC acquired a new position in Toast during the fourth quarter worth about $462,000. Institutional investors and hedge funds own 82.91% of the company’s stock.

Insider Transactions at Toast

In related news, General Counsel Brian R. Elworthy sold 108,000 shares of the business’s stock in a transaction that occurred on Friday, May 29th. The shares were sold at an average price of $25.89, for a total value of $2,796,120.00. Following the completion of the sale, the general counsel directly owned 189,642 shares in the company, valued at approximately $4,909,831.38. The trade was a 36.29% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CFO Elena Gomez sold 8,929 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 $233,850.51. Following the completion of the sale, the chief financial officer 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 ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold 147,783 shares of company stock valued at $3,838,037 in the last quarter. Insiders own 10.03% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of brokerages have issued reports on TOST. Citigroup cut their target price on shares of Toast from $42.00 to $36.00 and set a “buy” rating for the company in a research report on Friday, May 8th. Loop Capital began coverage on shares of Toast in a research report on Tuesday, March 31st. They set a “hold” rating and a $26.00 target price for the company. Morgan Stanley set a $45.00 target price on shares of Toast in a research report on Friday, May 8th. Sanford C. Bernstein set a $39.00 price target on shares of Toast in a report on Monday, February 16th. Finally, Wells Fargo & Company lowered their price target on shares of Toast from $47.00 to $36.00 and set an “overweight” rating for the company in a report on Friday, February 13th. One investment analyst has rated the stock with a Strong Buy rating, seventeen have issued a Buy rating and eight have issued a Hold rating to the company. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus target price of $37.84.

Toast Price Performance

Shares of NYSE TOST opened at $25.18 on Friday. Toast, Inc. has a 12 month low of $22.26 and a 12 month high of $49.66. The company has a 50-day simple moving average of $26.17 and a 200-day simple moving average of $29.92. The company has a market cap of $12.99 billion, a PE ratio of 38.74 and a beta of 1.76.

Toast announced that its board has initiated a share repurchase plan on Thursday, February 12th that authorizes the company to repurchase $0.00 in shares. This repurchase authorization authorizes the company to repurchase shares of its stock through open market purchases. Stock repurchase plans are typically an indication that the company’s board believes its shares are undervalued.

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.