Toast, Inc. $TOST Holdings Boosted by Sands Capital Alternatives LLC

Sands Capital Alternatives LLC increased its holdings in Toast, Inc. (NYSE:TOST) by 92.6% during the fourth quarter, HoldingsChannel.com reports. The institutional investor owned 301,647 shares of the company’s stock after acquiring an additional 145,043 shares during the quarter. Toast accounts for 2.1% of Sands Capital Alternatives LLC’s portfolio, making the stock its 9th largest position. Sands Capital Alternatives LLC’s holdings in Toast were worth $10,711,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds also recently made changes to their positions in the business. MML Investors Services LLC boosted its holdings in shares of Toast by 19.1% in the fourth quarter. MML Investors Services LLC now owns 192,733 shares of the company’s stock worth $6,844,000 after buying an additional 30,853 shares during the last quarter. Mariner LLC boosted its holdings in shares of Toast by 0.5% in the fourth quarter. Mariner LLC now owns 317,101 shares of the company’s stock worth $11,260,000 after buying an additional 1,647 shares during the last quarter. Intrepid Capital Management Inc. boosted its holdings in shares of Toast by 7.2% in the fourth quarter. Intrepid Capital Management Inc. now owns 17,843 shares of the company’s stock worth $634,000 after buying an additional 1,200 shares during the last quarter. Axim Planning & Wealth purchased a new position in shares of Toast in the fourth quarter worth approximately $225,000. Finally, Brown Advisory Inc. boosted its holdings in shares of Toast by 11.3% in the fourth quarter. Brown Advisory Inc. now owns 54,173 shares of the company’s stock worth $1,924,000 after buying an additional 5,514 shares during the last quarter. Hedge funds and other institutional investors own 82.91% of the company’s stock.

Insider Transactions at Toast

In other news, CFO Elena Gomez sold 8,929 shares of the business’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 $233,850.51. Following the transaction, 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. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, General Counsel Brian R. Elworthy sold 108,000 shares of the business’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 transaction, the general counsel directly owned 189,642 shares in the company, valued at $4,909,831.38. This trade represents a 36.29% decrease in their position. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. In the last three months, insiders have sold 147,783 shares of company stock valued at $3,838,037. 10.03% of the stock is owned by corporate insiders.

Toast Price Performance

Shares of NYSE:TOST opened at $24.81 on Monday. Toast, Inc. has a 1-year low of $22.26 and a 1-year high of $49.66. The company has a market capitalization of $12.80 billion, a P/E ratio of 38.17 and a beta of 1.76. The firm’s 50 day simple moving average is $25.98 and its two-hundred day simple moving average is $29.54.

Analyst Upgrades and Downgrades

TOST has been the topic of a number of research reports. Citigroup dropped their price objective on shares of Toast from $42.00 to $36.00 and set a “buy” rating on the stock in a report on Friday, May 8th. Loop Capital started coverage on shares of Toast in a report on Tuesday, March 31st. They set a “hold” rating and a $26.00 price target on the stock. Mizuho lowered their price target 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. Zacks Research raised shares of Toast from a “hold” rating to a “strong-buy” rating in a report on Tuesday, May 26th. Finally, DA Davidson lowered their price target 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. Two analysts have rated the stock with a Strong Buy rating, seventeen have given a Buy rating and eight have given a Hold rating to the company. Based on data from MarketBeat.com, Toast presently has an average rating of “Moderate Buy” and an average price target of $37.62.

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.