Natixis Advisors LLC Increases Holdings in Toast, Inc. $TOST

Natixis Advisors LLC boosted its holdings in shares of Toast, Inc. (NYSE:TOST) by 20.0% in the fourth quarter, HoldingsChannel.com reports. The institutional investor owned 163,802 shares of the company’s stock after purchasing an additional 27,328 shares during the quarter. Natixis Advisors LLC’s holdings in Toast were worth $5,817,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors also recently bought and sold shares of TOST. NewEdge Advisors LLC raised its position in Toast by 1,555.5% during the 1st quarter. NewEdge Advisors LLC now owns 17,432 shares of the company’s stock worth $578,000 after buying an additional 16,379 shares during the last quarter. Cerity Partners LLC raised its position in Toast by 24.0% during the 2nd quarter. Cerity Partners LLC now owns 81,574 shares of the company’s stock worth $3,613,000 after buying an additional 15,774 shares during the last quarter. State Street Corp raised its position in Toast by 2.7% during the 2nd quarter. State Street Corp now owns 9,212,889 shares of the company’s stock worth $408,039,000 after buying an additional 245,276 shares during the last quarter. Frontier Capital Management Co. LLC purchased a new position in Toast during the 2nd quarter worth approximately $4,479,000. Finally, Sei Investments Co. raised its position in Toast by 24.6% during the 2nd quarter. Sei Investments Co. now owns 1,030,007 shares of the company’s stock worth $45,619,000 after buying an additional 203,404 shares during the last quarter. 82.91% of the stock is owned by hedge funds and other institutional investors.

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.

Wall Street Analysts Forecast Growth

TOST has been the subject of a number of recent research reports. Zacks Research raised shares of Toast from a “hold” rating to a “strong-buy” rating in a research report on Tuesday, May 26th. Needham & Company LLC reduced their price target on shares of Toast from $60.00 to $35.00 and set a “buy” rating for the company in a research report on Friday, February 13th. Sanford C. Bernstein set a $39.00 price target on shares of Toast in a research report on Monday, February 16th. DA Davidson reduced their price target on shares of Toast from $33.00 to $28.00 and set a “neutral” rating for the company in a research report on Tuesday, May 12th. Finally, UBS Group reduced their price target on shares of Toast from $40.00 to $34.00 and set a “buy” rating for the company in a research report on Friday, May 8th. One equities research analyst has rated the stock with a Strong Buy rating, seventeen have issued a Buy rating and eight have given a Hold rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $37.84.

Toast Price Performance

NYSE:TOST opened at $24.07 on Tuesday. The firm has a market cap of $12.42 billion, a price-to-earnings ratio of 37.03 and a beta of 1.76. The company has a 50 day moving average price of $26.09 and a 200-day moving average price of $29.78. Toast, Inc. has a 1-year low of $22.26 and a 1-year high of $49.66.

Toast announced that its board has initiated a share repurchase plan on Thursday, February 12th that authorizes the company to repurchase $0.00 in outstanding shares. This repurchase authorization authorizes the company to buy shares of its stock through open market purchases. Shares repurchase plans are generally a sign that the company’s board believes its shares are 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.