Bosman Wealth Management LLC Sells 43,749 Shares of Toast, Inc. $TOST

Key Points

• Bosman Wealth Management LLC cut its stake in Toast by 84.7%, selling 43,749 shares in Q4 and ending the quarter with 7,873 shares worth about $280,000.
• Corporate insiders sold 46,030 shares over the last quarter (including CFO Elena Gomez and GC Brian Elworthy), totaling roughly $1.23M in sales; insiders still hold 12.14% of the company while institutions own 82.91%.
• Recent results and market view: Toast missed EPS ($0.16 vs. $0.24 est.) but revenue grew 22% to $1.63B; the company has a $15.26B market cap and a consensus "Moderate Buy" analyst target of $39.88.

Bosman Wealth Management LLC cut its stake in Toast, Inc. (NYSE:TOST - Free Report) by 84.7% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 7,873 shares of the company's stock after selling 43,749 shares during the quarter. Bosman Wealth Management LLC's holdings in Toast were worth $280,000 as of its most recent SEC filing.

Several other large investors also recently modified their holdings of the stock. Lecap Asset Management Ltd. raised its position in shares of Toast by 206.7% in the fourth quarter. Lecap Asset Management Ltd. now owns 59,123 shares of the company's stock valued at $2,099,000 after purchasing an additional 39,847 shares during the period. Wealth Enhancement Trust Services Inc. bought a new position in Toast during the fourth quarter worth about $1,087,000. GHP Investment Advisors Inc. increased 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 period. Merit Financial Group LLC increased its position in Toast by 6.7% during the fourth quarter. Merit Financial Group LLC now owns 6,434 shares of the company's stock worth $228,000 after acquiring an additional 404 shares during the period. Finally, Mirae Asset Global Investments Co. Ltd. increased its position in Toast by 20.7% during the fourth quarter. Mirae Asset Global Investments Co. Ltd. now owns 2,897 shares of the company's stock worth $103,000 after acquiring an additional 496 shares during the period. 82.91% of the stock is owned by institutional investors.

Insider Transactions at Toast

In other Toast news, CFO Elena Gomez sold 8,929 shares of the firm'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 transaction, the chief financial officer directly owned 173,064 shares of the company's stock, valued at $4,532,546.16. This trade represents a 4.91% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, General Counsel Brian R. Elworthy sold 3,664 shares of the firm's stock in a transaction dated Thursday, April 2nd. The shares were sold at an average price of $26.19, for a total transaction of $95,960.16. Following the completion of the transaction, the general counsel directly owned 243,642 shares in the company, valued at approximately $6,380,983.98. This represents a 1.48% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Over the last quarter, insiders sold 46,030 shares of company stock worth $1,231,451. Corporate insiders own 12.14% of the company's stock.

Toast Stock Up 2.2%

TOST stock opened at $29.12 on Friday. Toast, Inc. has a 12 month low of $24.35 and a 12 month high of $49.66. The firm has a market cap of $15.26 billion, a P/E ratio of 53.92 and a beta of 1.90. The company's 50-day moving average price is $27.46 and its two-hundred day moving average price is $32.47.

Toast (NYSE:TOST - Get Free Report) last released its earnings results on Thursday, February 12th. The company reported $0.16 EPS for the quarter, missing the consensus estimate of $0.24 by ($0.08). Toast had a net margin of 5.56% and a return on equity of 18.14%. The firm had revenue of $1.63 billion during the quarter, compared to the consensus estimate of $1.62 billion. During the same period in the prior year, the business earned $0.05 earnings per share. Toast's quarterly revenue was up 22.0% compared to the same quarter last year. Equities analysts predict that Toast, Inc. will post 0.39 EPS for the current year.

Toast announced that its board has authorized a share repurchase plan on Thursday, February 12th that authorizes the company to repurchase $0.00 in outstanding shares. This repurchase authorization authorizes the company to repurchase shares of its stock through open market purchases. Stock repurchase plans are often an indication that the company's management believes its stock is undervalued.

Analysts Set New Price Targets

A number of research firms recently commented on TOST. Jefferies Financial Group set a $35.00 price target on shares of Toast in a research report on Friday, February 13th. Loop Capital began coverage on shares of Toast in a research report on Tuesday, March 31st. They set a "hold" rating and a $26.00 price target on the stock. Wolfe Research lowered shares of Toast from an "outperform" rating to a "peer perform" rating in a research report on Thursday, January 8th. Morgan Stanley set a $51.00 price target on shares of Toast in a research report on Friday, February 13th. Finally, Oppenheimer lowered their price target on shares of Toast from $48.00 to $39.00 and set an "outperform" rating on the stock in a research report on Friday, February 13th. Seventeen investment analysts have rated the stock with a Buy rating and eight have assigned a Hold rating to the company's stock. According to data from MarketBeat, the stock presently has an average rating of "Moderate Buy" and a consensus target price of $39.88.

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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