WCG Wealth Advisors LLC Buys New Stake in Toast, Inc. $TOST

WCG Wealth Advisors LLC bought a new stake in Toast, Inc. (NYSE:TOST) during the fourth quarter, according to its most recent disclosure with the SEC. The firm bought 165,435 shares of the company’s stock, valued at approximately $5,875,000.

Other hedge funds have also recently modified their holdings of the company. Central Pacific Bank Trust Division grew its position in shares of Toast by 123.5% in the 4th quarter. Central Pacific Bank Trust Division now owns 943 shares of the company’s stock valued at $33,000 after buying an additional 521 shares during the last quarter. Smartleaf Asset Management LLC grew its position in shares of Toast by 59.1% in the 3rd quarter. Smartleaf Asset Management LLC now owns 1,182 shares of the company’s stock valued at $44,000 after buying an additional 439 shares during the last quarter. Cornerstone Planning Group LLC grew its position in shares of Toast by 8,807.1% in the 4th quarter. Cornerstone Planning Group LLC now owns 1,247 shares of the company’s stock valued at $44,000 after buying an additional 1,233 shares during the last quarter. Kohmann Bosshard Financial Services LLC purchased a new position in shares of Toast in the 4th quarter valued at $45,000. Finally, GHP Investment Advisors Inc. grew its position in shares of Toast by 40.0% in the 4th quarter. GHP Investment Advisors Inc. now owns 1,400 shares of the company’s stock valued at $50,000 after buying an additional 400 shares during the last quarter. 82.91% of the stock is owned by hedge funds and other institutional investors.

Toast Stock Performance

TOST stock opened at $25.18 on Friday. Toast, Inc. has a one year low of $22.26 and a one year high of $49.66. The stock has a market capitalization of $12.99 billion, a PE ratio of 38.74 and a beta of 1.76. The company has a fifty day moving average of $26.17 and a 200-day moving average of $29.92.

Toast announced that its Board of Directors has approved a stock buyback plan on Thursday, February 12th that authorizes the company to repurchase $0.00 in shares. This repurchase authorization authorizes the company to reacquire shares of its stock through open market purchases. Stock repurchase plans are usually a sign that the company’s leadership believes its shares are undervalued.

Insider Transactions at Toast

In related news, General Counsel Brian R. Elworthy sold 108,000 shares of the firm’s stock in a transaction dated Friday, May 29th. The shares were sold at an average price of $25.89, for a total value of $2,796,120.00. Following the completion of the sale, the general counsel owned 189,642 shares in the company, valued at $4,909,831.38. This trade represents a 36.29% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CEO Aman Narang sold 13,463 shares of the firm’s stock in a transaction dated Thursday, April 2nd. The shares were sold at an average price of $26.19, for a total transaction of $352,595.97. Following the completion of the sale, the chief executive officer owned 54,013 shares of the company’s stock, valued at $1,414,600.47. This trade represents a 19.95% decrease in their position. The disclosure for this sale is available in the SEC filing. Over 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 company insiders.

Analyst Upgrades and Downgrades

A number of research firms recently commented on TOST. Loop Capital initiated coverage on shares of Toast in a research report on Tuesday, March 31st. They issued a “hold” rating and a $26.00 target price on the stock. Wells Fargo & Company lowered their price objective on shares of Toast from $47.00 to $36.00 and set an “overweight” rating on the stock in a research report on Friday, February 13th. Morgan Stanley set a $45.00 price objective on shares of Toast in a research report on Friday, May 8th. DA Davidson lowered their price objective on shares of Toast from $33.00 to $28.00 and set a “neutral” rating on the stock in a research report on Tuesday, May 12th. Finally, Oppenheimer reissued an “outperform” rating and set a $36.00 price objective on shares of Toast in a research report on Friday, May 8th. One analyst has rated the stock with a Strong Buy rating, seventeen have assigned a Buy rating and eight have issued a Hold rating to the company. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average target price of $37.84.

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.