Riverbridge Partners LLC Reduces Stock Position in Toast, Inc. $TOST

Key Points

• Riverbridge Partners LLC cut its stake in Toast by 21.6% in Q4, selling 207,700 shares and now holds 755,052 shares worth about $26.8 million (≈0.15% of the company).
• Insider selling has been active recently — insiders sold 100,856 shares valued at roughly $3.54 million over the last three months, including transactions by the general counsel and the company president.
• Analysts maintain a consensus of "Moderate Buy" with an average target of $40.46 despite some downward revisions, while Toast reported mixed Q4 results: EPS of $0.16 (missed by $0.08) and revenue up 22% year-over-year to $1.63 billion.

Riverbridge Partners LLC cut its holdings in Toast, Inc. (NYSE:TOST - Free Report) by 21.6% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 755,052 shares of the company's stock after selling 207,700 shares during the quarter. Riverbridge Partners LLC owned approximately 0.15% of Toast worth $26,812,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds also recently bought and sold shares of the business. Cim LLC lifted its holdings in Toast by 0.7% in the 2nd quarter. Cim LLC now owns 38,302 shares of the company's stock worth $1,696,000 after buying an additional 273 shares during the period. Wynn Capital LLC increased its stake in shares of Toast by 2.1% during the fourth quarter. Wynn Capital LLC now owns 13,755 shares of the company's stock valued at $488,000 after buying an additional 280 shares during the period. Bridgewater Advisors Inc. increased its stake in shares of Toast by 2.3% during the third quarter. Bridgewater Advisors Inc. now owns 13,107 shares of the company's stock valued at $472,000 after buying an additional 294 shares during the period. Trinity Financial Advisors LLC raised its holdings in shares of Toast by 2.5% during the third quarter. Trinity Financial Advisors LLC now owns 12,094 shares of the company's stock valued at $442,000 after acquiring an additional 296 shares in the last quarter. Finally, Purus Wealth Management LLC raised its holdings in shares of Toast by 5.8% during the third quarter. Purus Wealth Management LLC now owns 6,002 shares of the company's stock valued at $219,000 after acquiring an additional 330 shares in the last quarter. Hedge funds and other institutional investors own 82.91% of the company's stock.

Wall Street Analyst Weigh In

TOST has been the topic of several recent analyst reports. Canaccord Genuity Group set a $37.00 price target on shares of Toast in a report on Friday, February 13th. JPMorgan Chase & Co. upgraded shares of Toast from a "neutral" rating to an "overweight" rating and set a $43.00 price objective for the company in a report on Thursday, December 4th. Oppenheimer dropped their target price on shares of Toast from $48.00 to $39.00 and set an "outperform" rating for the company in a research report on Friday, February 13th. Truist Financial set a $36.00 target price on shares of Toast in a research note on Wednesday, February 25th. Finally, Citigroup reduced their price target on shares of Toast from $51.00 to $42.00 and set a "buy" rating on the stock in a research report on Friday, February 13th. Seventeen research analysts have rated the stock with a Buy rating and seven have assigned a Hold rating to the stock. According to data from MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and a consensus target price of $40.46.

Insider Buying and Selling at Toast

In other Toast news, General Counsel Brian R. Elworthy sold 3,303 shares of the company's stock in a transaction dated Monday, January 5th. The shares were sold at an average price of $34.38, for a total value of $113,557.14. Following the sale, the general counsel owned 235,757 shares in the company, valued at approximately $8,105,325.66. This represents a 1.38% 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 this link. Also, President Stephen Fredette sold 1,060 shares of the company's stock in a transaction dated Tuesday, February 3rd. The stock was sold at an average price of $30.34, for a total transaction of $32,160.40. Following the completion of the sale, the president owned 913,067 shares in the company, valued at approximately $27,702,452.78. This trade represents a 0.12% decrease in their position. The SEC filing for this sale provides additional information. Insiders have sold a total of 100,856 shares of company stock valued at $3,540,449 over the last three months. 12.14% of the stock is currently owned by corporate insiders.

Toast Trading Down 1.8%

TOST opened at $26.34 on Friday. The company has a market cap of $13.80 billion, a price-to-earnings ratio of 48.77 and a beta of 1.95. The stock has a fifty day simple moving average of $28.98 and a two-hundred day simple moving average of $33.91. Toast, Inc. has a 12-month low of $24.35 and a 12-month high of $49.66.

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

Toast declared that its Board of Directors has initiated a share buyback plan on Thursday, February 12th that authorizes the company to buyback $0.00 in 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.

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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