Janney Montgomery Scott LLC Has $13.91 Million Holdings in Toast, Inc. $TOST

Janney Montgomery Scott LLC boosted its position in shares of Toast, Inc. (NYSE:TOST) by 7.1% in the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 524,792 shares of the company’s stock after purchasing an additional 35,013 shares during the period. Janney Montgomery Scott LLC’s holdings in Toast were worth $13,912,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently modified their holdings of TOST. Capital International Investors lifted its holdings in shares of Toast by 7.4% in 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. Jennison Associates LLC grew its holdings in shares of Toast by 1.0% during the fourth quarter. Jennison Associates LLC now owns 15,157,955 shares of the company’s stock worth $538,259,000 after buying an additional 157,394 shares in the last quarter. Morgan Stanley grew its holdings in shares of Toast by 6.7% during the fourth quarter. Morgan Stanley now owns 10,372,626 shares of the company’s stock worth $368,332,000 after buying an additional 653,487 shares in the last quarter. State Street Corp raised its position in Toast by 3.0% in the 4th quarter. State Street Corp now owns 9,820,594 shares of the company’s stock valued at $348,729,000 after buying an additional 282,282 shares during the last quarter. Finally, XN LP raised its position in Toast by 50.8% in the 4th quarter. XN LP now owns 8,988,386 shares of the company’s stock valued at $319,178,000 after buying an additional 3,029,856 shares during the last quarter. Institutional investors and hedge funds own 82.91% of the company’s stock.

Toast Stock Performance

Shares of NYSE TOST opened at $28.69 on Thursday. The stock has a 50 day moving average price of $25.65 and a 200 day moving average price of $28.75. The stock has a market capitalization of $14.80 billion, a PE ratio of 44.13 and a beta of 1.74. Toast, Inc. has a 52 week low of $22.26 and a 52 week high of $49.66.

Insider Activity

In other news, General Counsel Brian R. Elworthy sold 108,000 shares of the company’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 represents a 36.29% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. 10.03% of the stock is currently owned by corporate insiders.

Analyst Upgrades and Downgrades

TOST has been the subject of a number of recent research reports. Citigroup reduced their price target on Toast from $42.00 to $36.00 and set a “buy” rating for the company in a research report on Friday, May 8th. Morgan Stanley set a $45.00 price objective on shares of Toast in a report on Friday, May 8th. Wall Street Zen raised shares of Toast from a “hold” rating to a “buy” rating in a research report on Saturday, June 13th. Oppenheimer restated an “outperform” rating and set a $36.00 target price on shares of Toast in a report on Friday, May 8th. Finally, Rothschild & Co Redburn reaffirmed a “neutral” rating and issued a $35.00 target price on shares of Toast in a research report on Tuesday, May 12th. Two investment analysts have rated the stock with a Strong Buy rating, seventeen have given a Buy rating and eight have given a Hold rating to the stock. According to MarketBeat.com, Toast has a consensus rating of “Moderate Buy” and an average target price of $37.62.

Toast 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.