Toast, Inc. $TOST Stake Increased by Thrivent Financial for Lutherans

Thrivent Financial for Lutherans grew its holdings in Toast, Inc. (NYSE:TOST) by 18.0% in the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 164,956 shares of the company’s stock after purchasing an additional 25,208 shares during the period. Thrivent Financial for Lutherans’ holdings in Toast were worth $5,857,000 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 holdings in shares of Toast by 123.5% in the fourth quarter. Central Pacific Bank Trust Division now owns 943 shares of the company’s stock valued at $33,000 after purchasing an additional 521 shares in the last quarter. Root Financial Partners LLC purchased a new stake in shares of Toast in the third quarter valued at $42,000. Smartleaf Asset Management LLC lifted its holdings in shares of Toast by 59.1% in the third quarter. Smartleaf Asset Management LLC now owns 1,182 shares of the company’s stock valued at $44,000 after purchasing an additional 439 shares in the last quarter. Cornerstone Planning Group LLC lifted its holdings in shares of Toast by 8,807.1% in the fourth quarter. Cornerstone Planning Group LLC now owns 1,247 shares of the company’s stock valued at $44,000 after purchasing an additional 1,233 shares in the last quarter. Finally, Kohmann Bosshard Financial Services LLC purchased a new stake in shares of Toast in the fourth quarter valued at $45,000. Hedge funds and other institutional investors own 82.91% of the company’s stock.

Toast Trading Down 1.4%

Shares of NYSE:TOST opened at $23.01 on Friday. Toast, Inc. has a 1 year low of $22.26 and a 1 year high of $49.66. The business has a fifty day simple moving average of $26.73 and a 200 day simple moving average of $30.77. The firm has a market cap of $11.87 billion, a price-to-earnings ratio of 35.39 and a beta of 1.81.

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

Analyst Ratings Changes

A number of analysts have recently issued reports on TOST shares. The Goldman Sachs Group reduced their target price on Toast from $43.00 to $31.00 and set a “neutral” rating for the company in a report on Tuesday, February 17th. Rothschild & Co Redburn restated a “neutral” rating and issued a $35.00 target price on shares of Toast in a report on Tuesday, May 12th. Oppenheimer restated an “outperform” rating and issued a $36.00 target price on shares of Toast in a report on Friday, May 8th. Needham & Company LLC reduced their target price on Toast from $60.00 to $35.00 and set a “buy” rating for the company in a report on Friday, February 13th. Finally, Sanford C. Bernstein set a $39.00 price objective on Toast in a report on Monday, February 16th. One investment analyst has rated the stock with a Strong Buy rating, sixteen have assigned a Buy rating and eight have assigned a Hold rating to the stock. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus price target of $37.84.

Insider Buying and Selling at Toast

In related news, CFO Elena Gomez sold 8,929 shares of the stock in a transaction on Thursday, April 2nd. The stock was 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 directly owned 173,064 shares in the company, valued at approximately $4,532,546.16. This trade represents a 4.91% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, General Counsel Brian R. Elworthy sold 3,664 shares of the stock in a transaction on Thursday, April 2nd. The stock was sold at an average price of $26.19, for a total value of $95,960.16. Following the sale, the general counsel owned 243,642 shares of the company’s stock, valued at approximately $6,380,983.98. This represents a 1.48% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold 39,783 shares of company stock valued at $1,041,917 in the last quarter. Corporate insiders own 12.14% of the company’s stock.

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.