Night Squared LP Acquires 20,577 Shares of Toast, Inc. $TOST

Night Squared LP raised its holdings in Toast, Inc. (NYSE:TOST) by 15.2% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 156,326 shares of the company’s stock after buying an additional 20,577 shares during the period. Night Squared LP’s holdings in Toast were worth $5,551,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other large investors have also recently made changes to their positions in TOST. Alliancebernstein L.P. lifted its stake in shares of Toast by 2,432.8% in the third quarter. Alliancebernstein L.P. now owns 8,215,758 shares of the company’s stock valued at $299,957,000 after buying an additional 7,891,383 shares in the last quarter. Norges Bank bought a new position in shares of Toast during the fourth quarter valued at about $202,808,000. ValueAct Holdings L.P. bought a new position in shares of Toast during the third quarter valued at about $124,032,000. Capital International Investors lifted its position in shares of Toast by 7.4% during the third quarter. Capital International Investors now owns 48,428,060 shares of the company’s stock valued at $1,768,256,000 after purchasing an additional 3,351,545 shares in the last quarter. Finally, Worldquant Millennium Advisors LLC lifted its position in shares of Toast by 343.6% during the second quarter. Worldquant Millennium Advisors LLC now owns 1,792,209 shares of the company’s stock valued at $79,377,000 after purchasing an additional 1,388,210 shares in the last quarter. 82.91% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of research analysts recently weighed in on the stock. Citigroup dropped their price target 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. Loop Capital assumed coverage on shares of Toast in a research report on Tuesday, March 31st. They set a “hold” rating and a $26.00 price target on the stock. Wall Street Zen raised shares of Toast from a “hold” rating to a “buy” rating in a research report on Saturday. Oppenheimer reissued an “outperform” rating and set a $36.00 price target on shares of Toast in a research report on Friday, May 8th. Finally, Mizuho dropped their price target on shares of Toast from $45.00 to $38.00 and set an “outperform” rating on the stock in a research report on Tuesday, May 12th. Two equities research analysts have rated the stock with a Strong Buy rating, seventeen have assigned a Buy rating and eight have given a Hold rating to the stock. According to data from MarketBeat.com, Toast has a consensus rating of “Moderate Buy” and a consensus target price of $37.62.

Toast Stock Performance

Shares of TOST stock opened at $25.02 on Wednesday. The firm has a market cap of $12.91 billion, a price-to-earnings ratio of 38.49 and a beta of 1.76. Toast, Inc. has a 52 week low of $22.26 and a 52 week high of $49.66. The firm’s 50-day simple moving average is $25.92 and its two-hundred day simple moving average is $29.43.

Insiders Place Their Bets

In other Toast news, President Stephen Fredette sold 7,289 shares of Toast stock in a transaction dated Thursday, April 2nd. The shares were 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. The trade was a 0.79% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, CEO Aman Narang sold 13,463 shares of Toast 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 approximately $1,414,600.47. This represents a 19.95% decrease in their position. The disclosure for this sale is available in the SEC filing. In the last quarter, insiders have sold 147,783 shares of company stock valued at $3,838,037. Company insiders own 10.03% of the company’s stock.

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.