Toast, Inc. $TOST Shares Bought by Capital Impact Advisors LLC

Capital Impact Advisors LLC increased its stake in Toast, Inc. (NYSE:TOST) by 492.4% in the fourth quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 1,409,764 shares of the company’s stock after purchasing an additional 1,171,802 shares during the period. Toast accounts for about 3.9% of Capital Impact Advisors LLC’s portfolio, making the stock its 6th largest position. Capital Impact Advisors LLC’s holdings in Toast were worth $50,061,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors also recently bought and sold shares of the company. Citigroup Inc. boosted its stake in Toast by 17.2% in the 3rd quarter. Citigroup Inc. now owns 1,042,102 shares of the company’s stock worth $38,047,000 after purchasing an additional 152,807 shares in the last quarter. Quantbot Technologies LP acquired a new stake in Toast in the 3rd quarter worth approximately $2,891,000. Capital International Investors boosted its stake in Toast by 7.4% in the 3rd quarter. Capital International Investors now owns 48,428,060 shares of the company’s stock worth $1,768,256,000 after purchasing an additional 3,351,545 shares in the last quarter. Nordea Investment Management AB boosted its stake in Toast by 843.0% in the 4th quarter. Nordea Investment Management AB now owns 1,307,158 shares of the company’s stock worth $46,888,000 after purchasing an additional 1,168,539 shares in the last quarter. Finally, Jag Capital Management LLC raised its position in Toast by 3,853.3% during the 3rd quarter. Jag Capital Management LLC now owns 207,510 shares of the company’s stock worth $7,576,000 after buying an additional 202,261 shares during the last quarter. 82.91% of the stock is currently owned by institutional investors and hedge funds.

Toast Price Performance

NYSE:TOST opened at $24.43 on Thursday. The firm has a market cap of $12.60 billion, a price-to-earnings ratio of 37.58 and a beta of 1.76. The company has a 50 day moving average price of $25.87 and a 200-day moving average price of $29.36. Toast, Inc. has a 1-year low of $22.26 and a 1-year high of $49.66.

Analyst Ratings Changes

TOST has been the subject of a number of recent research reports. BMO Capital Markets reissued an “outperform” rating on shares of Toast in a research report on Monday, June 1st. Wall Street Zen raised shares of Toast from a “hold” rating to a “buy” rating in a research report on Saturday, June 13th. Morgan Stanley set a $45.00 price target on shares of Toast in a research report on Friday, May 8th. Oppenheimer reissued an “outperform” rating and set a $36.00 price target on shares of Toast in a research report on Friday, May 8th. Finally, Zacks Research raised shares of Toast from a “hold” rating to a “strong-buy” rating in a research report on Tuesday, May 26th. Two analysts have 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. According to MarketBeat, Toast has a consensus rating of “Moderate Buy” and a consensus target price of $37.62.

Insider Activity

In other news, President Stephen Fredette sold 7,289 shares of Toast 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 $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. The trade was a 0.79% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO Aman Narang sold 13,463 shares of Toast 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 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. Additional details regarding this sale are available in the official SEC disclosure. Over the last 90 days, insiders sold 147,783 shares of company stock worth $3,838,037. 10.03% of the stock is currently owned by corporate insiders.

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.