Capital International Investors increased its position in Toast, Inc. by 7.4% according to a recent SEC filing. The firm acquired an additional 3,351,545 shares. Total holdings now reach 48,428,060 shares. This transaction gives Capital International Investors a 9.40% ownership stake in the company. The total position is valued at approximately $1.77 billion.
The move reflects a broader trend among institutional investors in the restaurant technology sector. The Vanguard Group Inc. recently increased its stake in Toast. Jennison Associates LLC also expanded its holdings in the company.
Toast shares opened at $29.47 on Tuesday. The increased institutional backing signals a bullish outlook on the company’s performance and long-term growth.