Mainstream Capital Management LLC Makes New Investment in Toast, Inc. $TOST

Mainstream Capital Management LLC acquired a new position in Toast, Inc. (NYSE:TOST) in the first quarter, HoldingsChannel reports. The firm acquired 57,404 shares of the company’s stock, valued at approximately $1,522,000. Toast comprises about 1.0% of Mainstream Capital Management LLC’s holdings, making the stock its 29th largest position.

Several other institutional investors and hedge funds also recently made changes to their positions in the business. NewEdge Advisors LLC increased its holdings in shares of Toast by 1,555.5% in the first quarter. NewEdge Advisors LLC now owns 17,432 shares of the company’s stock worth $578,000 after buying an additional 16,379 shares during the period. Cerity Partners LLC grew its position in Toast by 24.0% during the 2nd quarter. Cerity Partners LLC now owns 81,574 shares of the company’s stock worth $3,613,000 after acquiring an additional 15,774 shares during the last quarter. State Street Corp increased its stake in Toast by 2.7% in the 2nd quarter. State Street Corp now owns 9,212,889 shares of the company’s stock worth $408,039,000 after purchasing an additional 245,276 shares during the period. Frontier Capital Management Co. LLC bought a new stake in Toast in the second quarter valued at approximately $4,479,000. Finally, Sei Investments Co. increased its stake in shares of Toast by 24.6% in the second quarter. Sei Investments Co. now owns 1,030,007 shares of the company’s stock worth $45,619,000 after buying an additional 203,404 shares during the period. Institutional investors own 82.91% of the company’s stock.

Insiders Place Their Bets

In other news, President Stephen Fredette sold 7,289 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 transaction 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 sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, CRO Jonathan Vassil sold 6,438 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 $168,611.22. Following the completion of the sale, the executive directly owned 146,618 shares in the company, valued at $3,839,925.42. This represents a 4.21% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders have sold 147,783 shares of company stock valued at $3,838,037 in the last 90 days. Corporate insiders own 10.03% of the company’s stock.

Wall Street Analyst Weigh In

TOST has been the subject of several analyst reports. Zacks Research raised shares of Toast from a “hold” rating to a “strong-buy” rating in a research report on Tuesday, May 26th. Morgan Stanley set a $45.00 price objective on shares of Toast in a research note on Friday, May 8th. UBS Group dropped their target price on shares of Toast from $40.00 to $34.00 and set a “buy” rating for the company in a report on Friday, May 8th. Citigroup cut their target price on Toast from $42.00 to $36.00 and set a “buy” rating on the stock in a research note on Friday, May 8th. Finally, Weiss Ratings restated a “hold (c)” rating on shares of Toast in a report on Wednesday, May 20th. Two analysts have rated the stock with a Strong Buy rating, seventeen have given a Buy rating and eight have issued a Hold rating to the stock. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $37.62.

Toast Stock Up 1.1%

TOST opened at $24.53 on Wednesday. Toast, Inc. has a 52 week low of $22.26 and a 52 week high of $49.66. The stock has a market cap of $12.66 billion, a PE ratio of 37.74 and a beta of 1.76. The business has a 50 day moving average of $25.76 and a 200-day moving average of $29.08.

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.