Havemeyer Place LP Invests $744,000 in Toast, Inc. $TOST

Havemeyer Place LP bought a new position in shares of Toast, Inc. (NYSE:TOST) during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm bought 20,964 shares of the company’s stock, valued at approximately $744,000.

A number of other institutional investors have also modified their holdings of TOST. Central Pacific Bank Trust Division increased its position in shares of Toast by 123.5% during the fourth quarter. Central Pacific Bank Trust Division now owns 943 shares of the company’s stock worth $33,000 after acquiring an additional 521 shares during the period. Smartleaf Asset Management LLC increased its position in shares of Toast by 59.1% during the third quarter. Smartleaf Asset Management LLC now owns 1,182 shares of the company’s stock worth $44,000 after acquiring an additional 439 shares during the period. Cornerstone Planning Group LLC increased its position in shares of Toast by 8,807.1% during the fourth quarter. Cornerstone Planning Group LLC now owns 1,247 shares of the company’s stock worth $44,000 after acquiring an additional 1,233 shares during the period. Kohmann Bosshard Financial Services LLC purchased a new position in shares of Toast during the fourth quarter worth approximately $45,000. Finally, GHP Investment Advisors Inc. increased its position in shares of Toast by 40.0% during the fourth quarter. GHP Investment Advisors Inc. now owns 1,400 shares of the company’s stock worth $50,000 after acquiring an additional 400 shares during the period. 82.91% of the stock is owned by hedge funds and other institutional investors.

Toast Stock Down 2.3%

Toast stock opened at $24.07 on Tuesday. The business has a fifty day moving average of $26.09 and a two-hundred day moving average of $29.78. The firm has a market cap of $12.42 billion, a P/E ratio of 37.03 and a beta of 1.76. Toast, Inc. has a twelve month low of $22.26 and a twelve month high of $49.66.

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

Insider Activity at Toast

In other Toast news, CFO Elena Gomez sold 8,929 shares of the company’s stock in a transaction on Thursday, April 2nd. The stock was sold at an average price of $26.19, for a total transaction of $233,850.51. Following the completion of the sale, the chief financial officer owned 173,064 shares in the company, valued at $4,532,546.16. This represents a 4.91% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, President Stephen Fredette sold 7,289 shares of the company’s stock in a transaction on Thursday, April 2nd. The stock was sold at an average price of $26.19, for a total value of $190,898.91. Following the sale, the president owned 920,985 shares of the company’s stock, valued at approximately $24,120,597.15. This represents a 0.79% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders have sold 147,783 shares of company stock valued at $3,838,037 over the last 90 days. Insiders own 10.03% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities analysts have recently commented on the stock. 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 report on Friday, February 13th. 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 report on Friday, February 13th. Weiss Ratings reaffirmed a “hold (c)” rating on shares of Toast in a research report on Wednesday, May 20th. UBS Group reduced their target price on shares of Toast from $40.00 to $34.00 and set a “buy” rating on the stock in a research report on Friday, May 8th. Finally, Citigroup reduced their target price on shares of Toast from $42.00 to $36.00 and set a “buy” rating on the stock in a research report on Friday, May 8th. One analyst has rated the stock with a Strong Buy rating, seventeen have issued a Buy rating and eight have issued a Hold rating to the company. Based on data from MarketBeat, Toast has an average rating of “Moderate Buy” and a consensus 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.