Forsta AP Fonden Sells 65,000 Shares of Toast, Inc. $TOST

Key Points

• Forsta AP Fonden cut its Toast stake by 21.9% in Q4, selling 65,000 shares and leaving it with 231,800 shares worth about $8.23 million.
• Several other institutional investors were active in Toast during the period, and institutional ownership remains high at 82.91% of the company’s stock.
• Toast insiders also sold shares recently: CEO Aman Narang and CFO Elena Gomez both sold stock on April 2, while analysts currently rate the shares a Moderate Buy with a consensus price target of $37.84.

Forsta AP Fonden lowered its position in Toast, Inc. (NYSE:TOST - Free Report) by 21.9% during the 4th quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 231,800 shares of the company's stock after selling 65,000 shares during the period. Forsta AP Fonden's holdings in Toast were worth $8,231,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also added to or reduced their stakes in the company. Central Pacific Bank Trust Division boosted its holdings in Toast by 123.5% in 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 in the last quarter. Smartleaf Asset Management LLC boosted its holdings in Toast by 59.1% in 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 in the last quarter. Cornerstone Planning Group LLC boosted its holdings in Toast by 8,807.1% in 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 in the last quarter. Kohmann Bosshard Financial Services LLC bought a new position in shares of Toast in the fourth quarter valued at approximately $45,000. Finally, GHP Investment Advisors Inc. lifted its holdings 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 purchasing an additional 400 shares in the last quarter. Institutional investors own 82.91% of the company's stock.

Insider Buying and Selling

In other news, CEO Aman Narang sold 13,463 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 value of $352,595.97. Following the completion of the transaction, the chief executive officer directly owned 54,013 shares in the company, 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 Securities & Exchange Commission, which can be accessed through the SEC website. Also, 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 value of $233,850.51. Following the completion of the transaction, the chief financial officer owned 173,064 shares of the company's stock, valued at approximately $4,532,546.16. This trade represents a 4.91% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders sold 39,783 shares of company stock valued at $1,041,917 in the last 90 days. Corporate insiders own 10.03% of the company's stock.

Toast Price Performance

Shares of TOST opened at $27.66 on Tuesday. The firm has a market cap of $14.27 billion, a PE ratio of 42.56 and a beta of 1.76. The stock's fifty day moving average price is $26.28 and its two-hundred day moving average price is $30.16. Toast, Inc. has a 1 year low of $22.26 and a 1 year high of $49.66.

Toast declared that its board has approved a stock buyback program on Thursday, February 12th that allows the company to buyback $0.00 in shares. This buyback authorization allows the company to purchase shares of its stock through open market purchases. Stock buyback programs are typically an indication that the company's leadership believes its shares are undervalued.

Analysts Set New Price Targets

TOST has been the topic of a number of recent research reports. Needham & Company LLC dropped their target price on Toast from $60.00 to $35.00 and set a "buy" rating on the stock in a report on Friday, February 13th. UBS Group dropped their target price on Toast from $40.00 to $34.00 and set a "buy" rating on the stock in a report on Friday, May 8th. DA Davidson dropped their target price on Toast from $33.00 to $28.00 and set a "neutral" rating on the stock in a report on Tuesday, May 12th. Rothschild & Co Redburn restated a "neutral" rating and issued a $35.00 target price on shares of Toast in a report on Tuesday, May 12th. Finally, BMO Capital Markets restated an "outperform" rating on shares of Toast in a report on Monday. One investment analyst has rated the stock with a Strong Buy rating, seventeen have given a Buy rating and eight have given a Hold rating to the stock. Based on data from MarketBeat.com, Toast has a consensus rating of "Moderate Buy" and a consensus target price of $37.84.

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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