WINTON GROUP Ltd Purchases Shares of 172,180 Toast, Inc. $TOST

WINTON GROUP Ltd purchased a new stake in Toast, Inc. (NYSE:TOST) during the fourth quarter, HoldingsChannel.com reports. The fund purchased 172,180 shares of the company’s stock, valued at approximately $6,114,000.

A number of other institutional investors have also recently bought and sold shares of the stock. Capital International Investors lifted its stake in Toast by 7.4% in the third 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. Vanguard Group Inc. lifted its stake in Toast by 0.8% in the third quarter. Vanguard Group Inc. now owns 44,764,157 shares of the company’s stock valued at $1,634,339,000 after buying an additional 352,435 shares in the last quarter. Jennison Associates LLC lifted its stake in Toast by 1.0% in the fourth quarter. Jennison Associates LLC now owns 15,157,955 shares of the company’s stock valued at $538,259,000 after buying an additional 157,394 shares in the last quarter. State Street Corp raised its holdings in shares of Toast by 3.5% in the third quarter. State Street Corp now owns 9,538,312 shares of the company’s stock valued at $348,244,000 after purchasing an additional 325,423 shares during the last quarter. Finally, Geode Capital Management LLC raised its holdings in shares of Toast by 2.0% in the fourth quarter. Geode Capital Management LLC now owns 8,675,056 shares of the company’s stock valued at $307,214,000 after purchasing an additional 169,230 shares during the last quarter. Institutional investors own 82.91% of the company’s stock.

Insiders Place Their Bets

In related news, CEO Aman Narang sold 13,463 shares of the firm’s stock in a transaction on Thursday, April 2nd. The shares were sold at an average price of $26.19, for a total value of $352,595.97. Following the completion of the transaction, the chief executive officer directly owned 54,013 shares of the company’s stock, valued at approximately $1,414,600.47. This trade represents a 19.95% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, General Counsel Brian R. Elworthy sold 108,000 shares of the firm’s stock in a transaction on Friday, May 29th. The shares were sold at an average price of $25.89, for a total transaction of $2,796,120.00. Following the completion of the transaction, the general counsel directly owned 189,642 shares of the company’s stock, valued at $4,909,831.38. This represents a 36.29% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders sold 147,783 shares of company stock valued at $3,838,037 in the last ninety days. 10.03% of the stock is currently owned by insiders.

Toast Trading Down 2.3%

NYSE:TOST opened at $24.64 on Friday. Toast, Inc. has a 1-year low of $22.26 and a 1-year high of $49.66. The firm has a fifty day simple moving average of $26.13 and a 200 day simple moving average of $29.89. The stock has a market capitalization of $12.71 billion, a PE ratio of 37.91 and a beta of 1.76.

Toast declared that its board has authorized a stock repurchase plan on Thursday, February 12th that permits the company to repurchase $0.00 in shares. This repurchase authorization permits the company to repurchase shares of its stock through open market purchases. Shares repurchase plans are usually a sign that the company’s management believes its shares are undervalued.

Analysts Set New Price Targets

A number of analysts have recently issued reports on TOST shares. DA Davidson lowered their price objective on shares of Toast from $33.00 to $28.00 and set a “neutral” rating on the stock in a report on Tuesday, May 12th. Jefferies Financial Group set a $35.00 price objective on shares of Toast in a report on Friday, February 13th. Wall Street Zen downgraded shares of Toast from a “buy” rating to a “hold” rating in a report on Saturday, May 9th. 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. Finally, Loop Capital started coverage on shares of Toast in a report on Tuesday, March 31st. They issued a “hold” rating and a $26.00 price objective on the stock. One 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’s stock. Based on data from MarketBeat.com, Toast currently has a consensus rating of “Moderate Buy” and an average price target of $37.84.

About Toast

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.