Amova Asset Management Americas Inc. Sells 477,176 Shares of Toast, Inc. $TOST

Amova Asset Management Americas Inc. reduced its position in Toast, Inc. (NYSE:TOST - Free Report) by 11.2% in the 4th quarter, according to its most recent filing with the SEC. The fund owned 3,801,347 shares of the company's stock after selling 477,176 shares during the period. Toast comprises 1.6% of Amova Asset Management Americas Inc.'s holdings, making the stock its 17th largest position. Amova Asset Management Americas Inc. owned about 0.74% of Toast worth $134,986,000 at the end of the most recent quarter.

Several other hedge funds have also bought and sold shares of TOST. 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 worth $33,000 after acquiring an additional 521 shares during the last quarter. Smartleaf Asset Management LLC lifted its position in Toast by 59.1% during the third quarter. Smartleaf Asset Management LLC now owns 1,182 shares of the company's stock worth $44,000 after acquiring an additional 439 shares during the last quarter. Cornerstone Planning Group LLC lifted its position in 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 acquiring an additional 1,233 shares during the last quarter. Kohmann Bosshard Financial Services LLC acquired a new stake in Toast during the fourth quarter worth approximately $45,000. Finally, GHP Investment Advisors Inc. lifted its position in Toast by 40.0% during the fourth quarter. GHP Investment Advisors Inc. now owns 1,400 shares of the company's stock worth $50,000 after acquiring an additional 400 shares during the last quarter. 82.91% of the stock is currently owned by institutional investors and hedge funds.

Toast Stock Performance

NYSE TOST opened at $25.10 on Wednesday. The firm's fifty day moving average price is $26.08 and its two-hundred day moving average price is $29.73. The stock has a market cap of $12.95 billion, a PE ratio of 38.61 and a beta of 1.76. Toast, Inc. has a fifty-two week low of $22.26 and a fifty-two week high of $49.66.

Toast declared that its Board of Directors has authorized a stock repurchase plan on Thursday, February 12th that authorizes the company to buyback $0.00 in outstanding shares. This buyback authorization authorizes the company to reacquire shares of its stock through open market purchases. Stock buyback plans are usually a sign that the company's management believes its shares are undervalued.

Analysts Set New Price Targets

Several brokerages have issued reports on TOST. The Goldman Sachs Group cut their price objective on shares of Toast from $43.00 to $31.00 and set a "neutral" rating for the company in a research report on Tuesday, February 17th. DA Davidson dropped their price target on shares of Toast from $33.00 to $28.00 and set a "neutral" rating for the company in a research report on Tuesday, May 12th. Wall Street Zen downgraded shares of Toast from a "buy" rating to a "hold" rating in a research report on Saturday, May 9th. Loop Capital assumed coverage on shares of Toast in a research report on Tuesday, March 31st. They issued a "hold" rating and a $26.00 price target for the company. Finally, UBS Group dropped their price target on shares of Toast from $40.00 to $34.00 and set a "buy" rating for the company in a research report on Friday, May 8th. One equities research analyst has rated the stock with a Strong Buy rating, seventeen have assigned a Buy rating and eight have issued a Hold rating to the stock. According to data from MarketBeat, the stock has a consensus rating of "Moderate Buy" and a consensus price target of $37.84.

Insider Activity

In other news, CFO Elena Gomez sold 8,929 shares of Toast stock in a transaction on Thursday, April 2nd. The shares were sold at an average price of $26.19, for a total transaction of $233,850.51. Following the transaction, 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 ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CRO Jonathan Vassil sold 6,438 shares of Toast stock in a transaction on Thursday, April 2nd. The stock was sold at an average price of $26.19, for a total transaction of $168,611.22. Following the transaction, the executive owned 146,618 shares in the company, valued at approximately $3,839,925.42. This trade represents a 4.21% decrease in their position. The disclosure for this sale is available in the SEC filing. In the last quarter, insiders have sold 147,783 shares of company stock valued at $3,838,037. 10.03% of the stock is currently 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.

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