WINTON GROUP Ltd Makes New $6.11 Million Investment in Toast, Inc. $TOST

WINTON GROUP Ltd acquired a new position in shares of Toast, Inc. (NYSE:TOST) during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor acquired 172,180 shares of the company’s stock, valued at approximately $6,114,000.

A number of other hedge funds have also recently added to or reduced their stakes in TOST. NewEdge Advisors LLC grew its holdings 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 acquiring an additional 16,379 shares during the last quarter. Cerity Partners LLC grew its holdings 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 acquiring an additional 15,774 shares during the last quarter. State Street Corp grew its holdings 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 acquiring an additional 245,276 shares during the last quarter. Frontier Capital Management Co. LLC bought a new stake in Toast during the 2nd quarter worth about $4,479,000. Finally, Sei Investments Co. grew its holdings 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 acquiring an additional 203,404 shares during the last quarter. Institutional investors own 82.91% of the company’s stock.

Toast Price Performance

Shares of NYSE:TOST opened at $24.64 on Friday. The company has a market capitalization of $12.71 billion, a price-to-earnings ratio of 37.91 and a beta of 1.76. The firm’s 50 day simple moving average is $26.13 and its 200 day simple moving average is $29.89. Toast, Inc. has a fifty-two week low of $22.26 and a fifty-two week high of $49.66.

Toast declared that its Board of Directors has authorized a share buyback 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 usually an indication that the company’s board believes its stock is undervalued.

Insider Buying and Selling at Toast

In related news, CRO Jonathan Vassil sold 6,438 shares of the stock in a transaction that occurred on Thursday, April 2nd. The stock was sold at an average price of $26.19, for a total transaction of $168,611.22. Following the completion of the sale, the executive directly owned 146,618 shares of the company’s stock, valued at approximately $3,839,925.42. This represents a 4.21% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, General Counsel Brian R. Elworthy sold 108,000 shares of the firm’s stock in a transaction that occurred on Friday, May 29th. The stock was sold at an average price of $25.89, for a total transaction of $2,796,120.00. Following 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. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders have sold a total of 147,783 shares of company stock worth $3,838,037 over the last three months. Company insiders own 10.03% of the company’s stock.

Analysts Set New Price Targets

Several brokerages have recently issued reports on TOST. Truist Financial reduced their target price on shares of Toast from $36.00 to $30.00 and set a “buy” rating on the stock in a research note on Tuesday, May 12th. Needham & Company LLC reduced their target price on shares of Toast from $60.00 to $35.00 and set a “buy” rating on the stock in a research note on Friday, February 13th. Wells Fargo & Company reduced their target price on shares of Toast from $47.00 to $36.00 and set an “overweight” rating on the stock in a research note on Friday, February 13th. Zacks Research raised shares of Toast from a “hold” rating to a “strong-buy” rating in a research note on Tuesday, May 26th. Finally, Weiss Ratings reaffirmed a “hold (c)” rating on shares of Toast in a research note on Wednesday, May 20th. One equities research 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’s stock. According to MarketBeat, Toast currently has an average rating of “Moderate Buy” and a consensus price target of $37.84.

Toast Company Profile

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.