Motley Fool Wealth Management LLC Lowers Position in Toast, Inc. $TOST

Motley Fool Wealth Management LLC cut its stake in shares of Toast, Inc. (NYSE:TOST) by 13.7% during the 4th quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 300,599 shares of the company’s stock after selling 47,835 shares during the period. Motley Fool Wealth Management LLC’s holdings in Toast were worth $10,674,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently bought and sold shares of the company. Central Pacific Bank Trust Division lifted its position in Toast by 123.5% during the fourth quarter. Central Pacific Bank Trust Division now owns 943 shares of the company’s stock valued at $33,000 after purchasing an additional 521 shares in the last quarter. Smartleaf Asset Management LLC lifted its position in shares of Toast by 59.1% in the third quarter. Smartleaf Asset Management LLC now owns 1,182 shares of the company’s stock valued at $44,000 after acquiring an additional 439 shares in the last quarter. Cornerstone Planning Group LLC lifted its position in shares of Toast by 8,807.1% in the fourth quarter. Cornerstone Planning Group LLC now owns 1,247 shares of the company’s stock valued at $44,000 after acquiring an additional 1,233 shares in the last quarter. Kohmann Bosshard Financial Services LLC purchased a new position in shares of Toast in the fourth quarter valued at about $45,000. Finally, GHP Investment Advisors Inc. lifted 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 in the last quarter. 82.91% of the stock is currently owned by hedge funds and other institutional investors.

Insider Transactions at Toast

In other news, CEO Aman Narang sold 13,463 shares of Toast stock in a transaction dated Thursday, April 2nd. The stock was sold at an average price of $26.19, for a total value of $352,595.97. Following the sale, the chief executive officer directly owned 54,013 shares of the company’s stock, valued at approximately $1,414,600.47. The trade was a 19.95% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, General Counsel Brian R. Elworthy sold 108,000 shares of Toast stock in a transaction dated Friday, May 29th. The stock was sold at an average price of $25.89, for a total value of $2,796,120.00. Following the completion of the sale, the general counsel directly owned 189,642 shares in the company, valued at $4,909,831.38. This trade represents a 36.29% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. In 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.

Toast Trading Up 4.1%

Shares of TOST stock opened at $25.10 on Wednesday. Toast, Inc. has a 12-month low of $22.26 and a 12-month high of $49.66. The stock’s 50-day moving average price is $26.08 and its 200-day moving average price is $29.73. The stock has a market capitalization of $12.95 billion, a price-to-earnings ratio of 38.61 and a beta of 1.76.

Toast announced that its Board of Directors has initiated a stock buyback program on Thursday, February 12th that permits the company to repurchase $0.00 in outstanding shares. This repurchase authorization permits the company to repurchase shares of its stock through open market purchases. Shares repurchase programs are typically a sign that the company’s management believes its stock is undervalued.

Wall Street Analyst Weigh In

Several brokerages have recently commented on TOST. Mizuho lowered their price objective on Toast from $45.00 to $38.00 and set an “outperform” rating on the stock in a research report on Tuesday, May 12th. DA Davidson lowered their price objective on Toast from $33.00 to $28.00 and set a “neutral” rating on the stock in a research report on Tuesday, May 12th. BMO Capital Markets restated an “outperform” rating on shares of Toast in a research report on Monday, June 1st. UBS Group lowered their price objective on Toast from $40.00 to $34.00 and set a “buy” rating on the stock in a research report on Friday, May 8th. Finally, Sanford C. Bernstein set a $39.00 price objective on Toast in a research report on Monday, February 16th. One research analyst has rated the stock with a Strong Buy rating, seventeen have issued a Buy rating and eight have assigned a Hold rating to the company. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $37.84.

Toast Company 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.