Natixis Advisors LLC Acquires 27,328 Shares of Toast, Inc. $TOST

Natixis Advisors LLC boosted its holdings in shares of Toast, Inc. (NYSE:TOST) by 20.0% during the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 163,802 shares of the company’s stock after acquiring an additional 27,328 shares during the period. Natixis Advisors LLC’s holdings in Toast were worth $5,817,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in the business. Capital International Investors grew its holdings in Toast by 7.4% during the 3rd quarter. Capital International Investors now owns 48,428,060 shares of the company’s stock worth $1,768,256,000 after acquiring an additional 3,351,545 shares in the last quarter. Vanguard Group Inc. grew its holdings in Toast by 0.8% during the 3rd quarter. Vanguard Group Inc. now owns 44,764,157 shares of the company’s stock worth $1,634,339,000 after acquiring an additional 352,435 shares in the last quarter. Jennison Associates LLC grew its holdings in Toast by 1.0% during the 4th quarter. Jennison Associates LLC now owns 15,157,955 shares of the company’s stock worth $538,259,000 after acquiring an additional 157,394 shares in the last quarter. State Street Corp grew its holdings in Toast by 3.5% during the 3rd quarter. State Street Corp now owns 9,538,312 shares of the company’s stock worth $348,244,000 after acquiring an additional 325,423 shares in the last quarter. Finally, Geode Capital Management LLC grew its holdings in Toast by 2.0% during the 4th quarter. Geode Capital Management LLC now owns 8,675,056 shares of the company’s stock worth $307,214,000 after acquiring an additional 169,230 shares in the last quarter. 82.91% of the stock is currently owned by institutional investors.

Insider Transactions at Toast

In related news, President Stephen Fredette sold 7,289 shares of the stock in a transaction that occurred on Thursday, April 2nd. The shares were 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 of the company’s stock, valued at $24,120,597.15. This trade represents a 0.79% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CEO Aman Narang sold 13,463 shares of the 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 completion of the transaction, 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 ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold a total of 147,783 shares of company stock worth $3,838,037 over the last ninety days. 10.03% of the stock is currently owned by insiders.

Analyst Ratings Changes

TOST has been the topic of several recent research reports. BMO Capital Markets reiterated an “outperform” rating on shares of Toast in a report on Monday, June 1st. Canaccord Genuity Group set a $37.00 price target on shares of Toast in a report on Friday, February 13th. Oppenheimer restated an “outperform” rating and issued a $36.00 price target on shares of Toast in a report on Friday, May 8th. Jefferies Financial Group set a $35.00 price target on shares of Toast in a report on Friday, February 13th. Finally, UBS Group lowered their price target on shares of Toast from $40.00 to $34.00 and set a “buy” rating on the stock in a report on Friday, May 8th. One research 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 data from MarketBeat, Toast presently has a consensus rating of “Moderate Buy” and a consensus price target of $37.84.

Toast Stock Performance

NYSE:TOST opened at $24.07 on Tuesday. Toast, Inc. has a fifty-two week low of $22.26 and a fifty-two week high of $49.66. The stock has a market capitalization of $12.42 billion, a P/E ratio of 37.03 and a beta of 1.76. The company’s 50-day simple moving average is $26.09 and its 200-day simple moving average is $29.78.

Toast declared that its Board of Directors has initiated a share buyback program on Thursday, February 12th that permits the company to repurchase $0.00 in shares. This repurchase authorization permits the company to reacquire shares of its stock through open market purchases. Stock repurchase programs are generally a sign that the company’s board of directors believes its stock is undervalued.

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.