Motley Fool Wealth Management LLC Reduces Stake in Toast, Inc. $TOST

Key Points

• Motley Fool Wealth Management cut its Toast position by 13.7% in the fourth quarter, selling 47,835 shares and leaving it with 300,599 shares valued at about $10.67 million.
• Institutional ownership in Toast remains high at 82.91%, though other investors made mixed moves, with some adding shares while others trimmed or opened new positions.
• Analysts are broadly positive but have lowered expectations, with the consensus rating at Moderate Buy and an average price target of $37.84, while Toast’s stock recently traded around $25.10.

Motley Fool Wealth Management LLC lowered its position in Toast, Inc. (NYSE:TOST - Free Report) by 13.7% in the 4th quarter, according to its most recent 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 owned 0.06% of Toast worth $10,674,000 as of its most recent SEC filing.

Other institutional investors have also recently made changes to their positions in the company. Central Pacific Bank Trust Division raised its position in shares of Toast by 123.5% in the 4th 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 raised its position in shares of Toast by 59.1% in the 3rd 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 raised its position in shares of Toast by 8,807.1% in the 4th 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 4th quarter worth approximately $45,000. Finally, GHP Investment Advisors Inc. raised its position in shares of Toast by 40.0% in the 4th quarter. GHP Investment Advisors Inc. now owns 1,400 shares of the company's stock worth $50,000 after acquiring an additional 400 shares in the last quarter. Institutional investors own 82.91% of the company's stock.

Analysts Set New Price Targets

TOST has been the subject of several research reports. Wells Fargo & Company decreased their target price on Toast from $47.00 to $36.00 and set an "overweight" rating for the company in a research report on Friday, February 13th. Oppenheimer reissued an "outperform" rating and issued a $36.00 target price on shares of Toast in a research report on Friday, May 8th. Sanford C. Bernstein set a $39.00 target price on Toast in a research report on Monday, February 16th. The Goldman Sachs Group decreased their target price on Toast from $43.00 to $31.00 and set a "neutral" rating for the company in a research report on Tuesday, February 17th. Finally, Loop Capital initiated coverage on Toast in a research report on Tuesday, March 31st. They issued a "hold" rating and a $26.00 target price for the company. One equities research analyst has rated the stock with a Strong Buy rating, seventeen have given a Buy rating and eight have issued a Hold rating to the stock. According to MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and an average target price of $37.84.

Insider Activity at Toast

In related news, General Counsel Brian R. Elworthy sold 108,000 shares of the firm's stock in a transaction that occurred on Friday, May 29th. The stock was sold at an average price of $25.89, for a total transaction of $2,796,120.00. Following the completion of the transaction, the general counsel owned 189,642 shares of the company's stock, valued at $4,909,831.38. This trade represents a 36.29% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CRO Jonathan Vassil sold 6,438 shares of the firm's stock in a transaction that occurred on Thursday, April 2nd. The shares were sold at an average price of $26.19, for a total value of $168,611.22. Following the transaction, the executive directly owned 146,618 shares of the company's stock, 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. Insiders have sold 147,783 shares of company stock worth $3,838,037 over the last quarter. 10.03% of the stock is currently owned by company insiders.

Toast Stock Up 4.1%

TOST stock opened at $25.10 on Wednesday. Toast, Inc. has a twelve month low of $22.26 and a twelve month high of $49.66. The firm has a market cap of $12.95 billion, a PE ratio of 38.61 and a beta of 1.76. The business has a 50 day moving average of $26.08 and a 200 day moving average of $29.73.

Toast announced that its board has approved a share buyback program on Thursday, February 12th that allows the company to repurchase $0.00 in shares. This repurchase authorization allows the company to buy shares of its stock through open market purchases. Shares repurchase programs are generally an indication that the company's management believes its shares are undervalued.

Toast 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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