AustralianSuper Pty Ltd Cuts Stock Holdings in Toast, Inc. $TOST

Key Points

• AustralianSuper Pty Ltd cut its Toast stake by 23.1% in the fourth quarter, selling 253,709 shares and leaving it with 846,547 shares worth about $30.1 million.
• Toast insiders also sold shares: President Stephen Fredette and CFO Elena Gomez both reduced their holdings, and insiders sold 39,783 shares worth about $1.04 million over the last 90 days.
• Analysts remain cautiously positive, with a consensus rating of “Moderate Buy” and an average price target of $37.84, though some firms recently trimmed targets and one downgraded the stock to hold.

AustralianSuper Pty Ltd decreased its position in Toast, Inc. (NYSE:TOST - Free Report) by 23.1% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 846,547 shares of the company's stock after selling 253,709 shares during the quarter. AustralianSuper Pty Ltd owned approximately 0.16% of Toast worth $30,061,000 at the end of the most recent reporting period.

Several other institutional investors have also recently made changes to their positions in TOST. Quent Capital LLC bought a new stake in shares of Toast in the 3rd quarter worth $27,000. Central Pacific Bank Trust Division increased its stake in Toast by 123.5% in the 4th quarter. Central Pacific Bank Trust Division now owns 943 shares of the company's stock valued at $33,000 after buying an additional 521 shares during the last quarter. Wolff Wiese Magana LLC purchased a new stake in Toast in the 3rd quarter valued at about $37,000. Root Financial Partners LLC purchased a new stake in Toast in the 3rd quarter valued at about $42,000. Finally, Smartleaf Asset Management LLC increased its stake in Toast by 59.1% in the 3rd quarter. Smartleaf Asset Management LLC now owns 1,182 shares of the company's stock valued at $44,000 after buying an additional 439 shares during the last quarter. Institutional investors own 82.91% of the company's stock.

Insiders Place Their Bets

In other Toast news, President Stephen Fredette sold 7,289 shares of the firm'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 completion of the sale, the president directly owned 920,985 shares of the company's stock, valued at $24,120,597.15. This trade represents a 0.79% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, CFO Elena Gomez sold 8,929 shares of the business's stock in a transaction dated Thursday, April 2nd. The shares were sold at an average price of $26.19, for a total value of $233,850.51. Following the completion of the sale, the chief financial officer owned 173,064 shares in the company, valued at $4,532,546.16. This represents a 4.91% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Over the last ninety days, insiders sold 39,783 shares of company stock valued at $1,041,917. Company insiders own 12.14% of the company's stock.

Wall Street Analyst Weigh In

Several equities research analysts have commented on TOST shares. Wall Street Zen lowered shares of Toast from a "buy" rating to a "hold" rating in a research note on Saturday, May 9th. Jefferies Financial Group set a $35.00 price target on Toast in a report on Friday, February 13th. Needham & Company LLC cut their price objective on Toast from $60.00 to $35.00 and set a "buy" rating on the stock in a research report on Friday, February 13th. Citigroup cut their price objective on Toast from $42.00 to $36.00 and set a "buy" rating on the stock in a research report on Friday, May 8th. Finally, DA Davidson cut 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. One equities research analyst has rated the stock with a Strong Buy rating, sixteen have issued a Buy rating and eight have given a Hold rating to the company's stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and a consensus price target of $37.84.

Toast Stock Down 0.2%

Toast stock opened at $23.02 on Friday. Toast, Inc. has a twelve month low of $22.26 and a twelve month high of $49.66. The firm has a 50 day moving average price of $27.27 and a 200-day moving average price of $31.19. The company has a market capitalization of $11.88 billion, a P/E ratio of 35.41 and a beta of 1.81.

Toast (NYSE:TOST - Get Free Report) last released its earnings results on Thursday, February 12th. The company reported $0.16 earnings per share for the quarter, missing analysts' consensus estimates of $0.24 by ($0.08). Toast had a net margin of 6.39% and a return on equity of 20.86%. The company had revenue of $1.63 billion for the quarter, compared to the consensus estimate of $1.62 billion. During the same period in the prior year, the company earned $0.05 earnings per share. The firm's revenue was up 22.0% on a year-over-year basis. Equities analysts expect that Toast, Inc. will post 0.81 EPS for the current fiscal year.

Toast announced that its Board of Directors has initiated a share buyback plan 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. Stock repurchase plans are generally a sign that the company's board believes its stock is undervalued.

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.

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