Fiera Capital Corp Has $47.90 Million Position in Toast, Inc. $TOST

Fiera Capital Corp lifted its holdings in Toast, Inc. (NYSE:TOST) by 33.1% during the fourth quarter, HoldingsChannel reports. The firm owned 1,349,004 shares of the company’s stock after purchasing an additional 335,503 shares during the period. Fiera Capital Corp’s holdings in Toast were worth $47,903,000 as of its most recent filing with the SEC.

Several other large investors have also made changes to their positions in TOST. Central Pacific Bank Trust Division grew its holdings in Toast by 123.5% in the 4th quarter. Central Pacific Bank Trust Division now owns 943 shares of the company’s stock valued at $33,000 after buying an additional 521 shares during the last quarter. Smartleaf Asset Management LLC increased its position in Toast by 59.1% in the 3rd quarter. Smartleaf Asset Management LLC now owns 1,182 shares of the company’s stock worth $44,000 after buying an additional 439 shares during the period. Cornerstone Planning Group LLC lifted its holdings 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 buying an additional 1,233 shares during the last quarter. Kohmann Bosshard Financial Services LLC acquired a new position in shares of Toast during the fourth quarter worth approximately $45,000. Finally, GHP Investment Advisors Inc. boosted its position in shares of Toast by 40.0% in the fourth quarter. GHP Investment Advisors Inc. now owns 1,400 shares of the company’s stock valued at $50,000 after acquiring an additional 400 shares during the period. Institutional investors and hedge funds own 82.91% of the company’s stock.

Toast Trading Down 2.3%

TOST stock opened at $24.07 on Tuesday. Toast, Inc. has a 1-year low of $22.26 and a 1-year high of $49.66. The business’s 50 day moving average is $26.09 and its 200-day moving average is $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 declared that its board has approved a share buyback plan on Thursday, February 12th that permits the company to repurchase $0.00 in outstanding shares. This repurchase authorization permits the company to purchase shares of its stock through open market purchases. Stock repurchase plans are typically an indication that the company’s leadership believes its shares are undervalued.

Wall Street Analyst Weigh In

Several equities research analysts have recently issued reports on the stock. Wall Street Zen downgraded shares of Toast from a “buy” rating to a “hold” rating in a research note on Saturday, May 9th. Truist Financial reduced their price target on shares of Toast from $36.00 to $30.00 and set a “buy” rating for the company in a report on Tuesday, May 12th. Citigroup reduced their price target on shares of Toast from $42.00 to $36.00 and set a “buy” rating for the company in a report on Friday, May 8th. DA Davidson dropped their price objective on shares of Toast from $33.00 to $28.00 and set a “neutral” rating on the stock in a report on Tuesday, May 12th. Finally, Canaccord Genuity Group set a $37.00 price objective on shares of Toast in a research report on Friday, February 13th. One analyst has rated the stock with a Strong Buy rating, seventeen have given a Buy rating and eight have issued a Hold rating to the company’s stock. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $37.84.

Insider Transactions at Toast

In other news, CFO Elena Gomez sold 8,929 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 value of $233,850.51. Following the sale, the chief financial officer owned 173,064 shares in the company, valued at approximately $4,532,546.16. The trade was a 4.91% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, President Stephen Fredette sold 7,289 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 $190,898.91. Following the completion of the sale, the president directly owned 920,985 shares in the company, valued at approximately $24,120,597.15. The trade was a 0.79% decrease in their position. The disclosure for this sale is available in the SEC filing. Over the last ninety days, insiders sold 147,783 shares of company stock valued at $3,838,037. 10.03% of the stock is owned by insiders.

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.