Hsbc Holdings PLC Purchases 26,032 Shares of Toast, Inc. $TOST

Hsbc Holdings PLC lifted its position in shares of Toast, Inc. (NYSE:TOST) by 16.8% in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 181,371 shares of the company’s stock after purchasing an additional 26,032 shares during the period. Hsbc Holdings PLC’s holdings in Toast were worth $6,455,000 as of its most recent SEC filing.

Several other large investors also recently modified their holdings of the business. Bayban purchased a new position in Toast during the 4th quarter valued at about $25,000. SHP Wealth Management purchased a new stake in Toast in the 4th quarter worth approximately $29,000. Strive Financial Group LLC bought a new stake in shares of Toast in the 4th quarter worth approximately $29,000. 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 worth $33,000 after buying an additional 521 shares during the last quarter. Finally, Silicon Valley Capital Partners purchased a new position in shares of Toast during the fourth quarter valued at approximately $36,000. 82.91% of the stock is owned by institutional investors.

Insider Buying and Selling at Toast

In other news, CRO Jonathan Vassil sold 6,438 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 transaction of $168,611.22. Following the sale, the executive owned 146,618 shares in the company, valued at approximately $3,839,925.42. The trade was a 4.21% decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, CEO Aman Narang sold 13,463 shares of the company’s stock in a transaction dated Thursday, April 2nd. The stock was 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 directly owned 54,013 shares in the company, valued at $1,414,600.47. This represents a 19.95% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. In the last three months, insiders have sold 147,783 shares of company stock valued at $3,838,037. Company insiders own 10.03% of the company’s stock.

Wall Street Analyst Weigh In

TOST has been the subject of a number of recent analyst reports. Weiss Ratings restated a “hold (c)” rating on shares of Toast in a report on Wednesday, May 20th. Oppenheimer reissued an “outperform” rating and set a $36.00 price objective on shares of Toast in a research report on Friday, May 8th. DA Davidson dropped their target price 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. Zacks Research raised shares of Toast from a “hold” rating to a “strong-buy” rating in a research note on Tuesday, May 26th. Finally, Piper Sandler assumed coverage on shares of Toast in a research note on Wednesday, June 10th. They set an “overweight” rating and a $32.00 target price on the stock. Two investment analysts have rated the stock with a Strong Buy rating, seventeen have issued a Buy rating and eight have assigned a Hold rating to the company. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $37.62.

Toast Stock Up 5.4%

Shares of TOST stock opened at $27.16 on Friday. The stock has a market cap of $14.01 billion, a price-to-earnings ratio of 41.78 and a beta of 1.76. The business’s fifty day moving average is $25.69 and its 200 day moving average is $28.94. Toast, Inc. has a twelve month low of $22.26 and a twelve month high of $49.66.

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.