Stephens Investment Management Group LLC Purchases 259,457 Shares of Toast, Inc. $TOST

Stephens Investment Management Group LLC grew its position in Toast, Inc. (NYSE:TOST) by 14.8% in the 1st quarter, Holdings Channel reports. The institutional investor owned 2,008,871 shares of the company’s stock after purchasing an additional 259,457 shares during the quarter. Stephens Investment Management Group LLC’s holdings in Toast were worth $53,255,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently made changes to their positions in the company. Wynn Capital LLC grew its holdings in shares of Toast by 2.1% during the fourth quarter. Wynn Capital LLC now owns 13,755 shares of the company’s stock valued at $488,000 after buying an additional 280 shares during the last quarter. BOKF NA raised its holdings in Toast by 4.5% in the 3rd quarter. BOKF NA now owns 8,023 shares of the company’s stock worth $293,000 after acquiring an additional 345 shares during the last quarter. Fifth Third Wealth Advisors LLC lifted its position in Toast by 0.5% in the 1st quarter. Fifth Third Wealth Advisors LLC now owns 67,909 shares of the company’s stock valued at $1,800,000 after acquiring an additional 358 shares in the last quarter. The Manufacturers Life Insurance Company lifted its position in Toast by 1.7% in the 2nd quarter. The Manufacturers Life Insurance Company now owns 22,857 shares of the company’s stock valued at $1,012,000 after acquiring an additional 380 shares in the last quarter. Finally, Seven Mile Advisory boosted its stake in Toast by 3.1% during the 3rd quarter. Seven Mile Advisory now owns 12,689 shares of the company’s stock valued at $463,000 after purchasing an additional 381 shares during the last quarter. Institutional investors own 82.91% of the company’s stock.

Toast Price Performance

NYSE TOST opened at $28.79 on Friday. The stock has a market capitalization of $14.85 billion, a price-to-earnings ratio of 44.29 and a beta of 1.74. Toast, Inc. has a 1-year low of $22.26 and a 1-year high of $49.66. The business’s fifty day moving average price is $25.64 and its 200-day moving average price is $28.70.

Analyst Upgrades and Downgrades

A number of analysts have commented on the company. Weiss Ratings reissued a “hold (c)” rating on shares of Toast in a report on Wednesday, May 20th. Loop Capital started coverage on Toast in a report on Tuesday, March 31st. They set a “hold” rating and a $26.00 price target on the stock. Morgan Stanley set a $45.00 price objective on Toast in a research report on Friday, May 8th. Oppenheimer reissued an “outperform” rating and issued a $36.00 target price on shares of Toast in a research report on Friday, May 8th. Finally, Wall Street Zen cut shares of Toast from a “buy” rating to a “hold” rating in a research note on Saturday. Two research analysts have rated the stock with a Strong Buy rating, seventeen have given a Buy rating and eight have issued a Hold rating to the stock. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $37.62.

Insider Buying and Selling

In related news, General Counsel Brian R. Elworthy sold 108,000 shares of the company’s stock in a transaction on Friday, May 29th. The stock was sold at an average price of $25.89, for a total transaction of $2,796,120.00. Following the completion of the sale, the general counsel owned 189,642 shares in the company, valued at approximately $4,909,831.38. This represents a 36.29% decrease in their ownership of the stock. The transaction was disclosed in a legal filing 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. Company insiders own 10.03% 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.