Partners Group Holding AG Takes $6.57 Million Position in Toast, Inc. $TOST

Partners Group Holding AG bought a new stake in Toast, Inc. (NYSE:TOST) in the 4th quarter, HoldingsChannel reports. The institutional investor bought 185,085 shares of the company’s stock, valued at approximately $6,572,000.

Several other institutional investors also recently modified their holdings of the business. Covestor Ltd grew its holdings in shares of Toast by 33.7% in the fourth quarter. Covestor Ltd now owns 5,966 shares of the company’s stock valued at $212,000 after acquiring an additional 1,505 shares in the last quarter. Handelsbanken Fonder AB grew its holdings in shares of Toast by 11.4% in the fourth quarter. Handelsbanken Fonder AB now owns 135,300 shares of the company’s stock valued at $4,805,000 after acquiring an additional 13,900 shares in the last quarter. Capstone Capital Management Ltd bought a new position in shares of Toast in the fourth quarter valued at approximately $979,000. HighTower Advisors LLC grew its holdings in shares of Toast by 10.2% in the fourth quarter. HighTower Advisors LLC now owns 191,706 shares of the company’s stock valued at $6,807,000 after acquiring an additional 17,707 shares in the last quarter. Finally, Wisconsin Capital Management LLC grew its holdings in shares of Toast by 1.1% in the fourth quarter. Wisconsin Capital Management LLC now owns 129,246 shares of the company’s stock valued at $4,590,000 after acquiring an additional 1,403 shares in the last quarter. 82.91% of the stock is owned by institutional investors.

Analysts Set New Price Targets

Several equities analysts have recently issued reports on TOST shares. 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. Rothschild & Co Redburn reaffirmed a “neutral” rating and issued a $35.00 target price on shares of Toast in a report on Tuesday, May 12th. Morgan Stanley set a $45.00 target price on Toast in a report on Friday, May 8th. Canaccord Genuity Group set a $37.00 target price on Toast in a report on Friday, February 13th. Finally, Jefferies Financial Group set a $35.00 target price on Toast in a report on Friday, February 13th. One investment analyst has rated the stock with a Strong Buy rating, sixteen have issued a Buy rating and eight have assigned a Hold rating to the company’s stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $37.84.

Insider Activity

In other Toast news, President Stephen Fredette sold 7,289 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 $190,898.91. Following the sale, the president owned 920,985 shares in the company, valued at $24,120,597.15. This represents a 0.79% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, CEO Aman Narang sold 13,463 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 $352,595.97. Following the sale, the chief executive officer owned 54,013 shares in the company, valued at approximately $1,414,600.47. This represents a 19.95% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Over the last quarter, insiders have sold 39,783 shares of company stock valued at $1,041,917. 12.14% of the stock is currently owned by corporate insiders.

Toast Trading Up 2.7%

Shares of NYSE TOST opened at $23.26 on Wednesday. The stock has a fifty day simple moving average of $26.97 and a two-hundred day simple moving average of $30.94. Toast, Inc. has a 1-year low of $22.26 and a 1-year high of $49.66. The firm has a market cap of $12.00 billion, a price-to-earnings ratio of 35.79 and a beta of 1.81.

Toast declared that its board has authorized a stock repurchase program on Thursday, February 12th that permits the company to repurchase $0.00 in outstanding shares. This repurchase authorization permits the company to buy shares of its stock through open market purchases. Shares repurchase programs are usually an indication that the company’s board believes its stock is 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.