Delta Global Management LP Acquires 96,071 Shares of Toast, Inc. $TOST

Delta Global Management LP grew its holdings in Toast, Inc. (NYSE:TOST) by 9.2% during the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 1,141,872 shares of the company’s stock after purchasing an additional 96,071 shares during the period. Toast makes up 1.8% of Delta Global Management LP’s investment portfolio, making the stock its 8th largest position. Delta Global Management LP owned 0.19% of Toast worth $40,548,000 as of its most recent SEC filing.

Several other large investors have also modified their holdings of the business. Alkeon Capital Management LLC lifted its stake in shares of Toast by 27.8% in the 4th quarter. Alkeon Capital Management LLC now owns 1,150,000 shares of the company’s stock valued at $40,836,000 after purchasing an additional 250,000 shares during the last quarter. OCONNOR A Distinct Business Unit of UBS ASSET MANAGEMENT AMERICAS LLC lifted its stake in shares of Toast by 150.0% in the 4th quarter. OCONNOR A Distinct Business Unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 200,000 shares of the company’s stock valued at $7,102,000 after purchasing an additional 120,000 shares during the last quarter. Whetstone Capital Advisors LLC lifted its stake in shares of Toast by 0.3% in the 4th quarter. Whetstone Capital Advisors LLC now owns 336,049 shares of the company’s stock valued at $11,933,000 after purchasing an additional 1,086 shares during the last quarter. Vanguard Personalized Indexing Management LLC lifted its stake in shares of Toast by 8.1% in the 4th quarter. Vanguard Personalized Indexing Management LLC now owns 33,670 shares of the company’s stock valued at $1,196,000 after purchasing an additional 2,516 shares during the last quarter. Finally, Sands Capital Alternatives LLC lifted its stake in shares of Toast by 92.6% in the 4th quarter. Sands Capital Alternatives LLC now owns 301,647 shares of the company’s stock valued at $10,711,000 after purchasing an additional 145,043 shares during the last quarter. Institutional investors and hedge funds own 82.91% of the company’s stock.

Toast Trading Up 1.0%

TOST stock opened at $25.07 on Tuesday. The company has a market capitalization of $12.94 billion, a PE ratio of 38.58 and a beta of 1.76. Toast, Inc. has a 12-month low of $22.26 and a 12-month high of $49.66. The business’s fifty day moving average price is $25.95 and its 200 day moving average price is $29.49.

Wall Street Analyst Weigh In

Several brokerages have recently commented on TOST. Oppenheimer reaffirmed an “outperform” rating and issued a $36.00 price target on shares of Toast in a research note on Friday, May 8th. Zacks Research raised Toast from a “hold” rating to a “strong-buy” rating in a research note on Tuesday, May 26th. Truist Financial decreased their price target on Toast from $36.00 to $30.00 and set a “buy” rating on the stock in a research note on Tuesday, May 12th. Sanford C. Bernstein set a $39.00 price target on Toast in a research note on Monday, February 16th. Finally, BMO Capital Markets reaffirmed an “outperform” rating on shares of Toast in a research note on Monday, June 1st. Two analysts have 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 data from MarketBeat.com, Toast currently has a consensus rating of “Moderate Buy” and a consensus target price of $37.62.

Insider Transactions at Toast

In related news, President Stephen Fredette sold 7,289 shares of the business’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 in the company, valued at approximately $24,120,597.15. The trade was a 0.79% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CEO Aman Narang sold 13,463 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 $352,595.97. Following the completion of the sale, the chief executive officer owned 54,013 shares in the company, valued at $1,414,600.47. This represents a 19.95% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. In the last three months, insiders have sold 147,783 shares of company stock worth $3,838,037. 10.03% of the stock is owned by corporate 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.