TD Asset Management Inc Sells 278,673 Shares of Toast, Inc. $TOST

Key Points

• TD Asset Management Inc reduced its Toast stake by 32.6% in the fourth quarter, selling 278,673 shares and leaving it with 574,916 shares worth about $20.4 million.
• Analyst sentiment on Toast remains generally positive, with an average rating of Moderate Buy and an average price target of $37.84, though some firms have recently lowered targets or downgraded the stock.
• Toast has also seen notable insider selling, including recent sales by President Stephen Fredette and General Counsel Brian R. Elworthy; insiders sold 147,783 shares over the last 90 days.

TD Asset Management Inc cut its stake in shares of Toast, Inc. (NYSE:TOST - Free Report) by 32.6% during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 574,916 shares of the company's stock after selling 278,673 shares during the quarter. TD Asset Management Inc owned 0.11% of Toast worth $20,415,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Central Pacific Bank Trust Division grew its holdings in shares of Toast by 123.5% during the 4th quarter. Central Pacific Bank Trust Division now owns 943 shares of the company's stock valued at $33,000 after purchasing an additional 521 shares during the last quarter. Smartleaf Asset Management LLC grew its holdings in shares of Toast by 59.1% during the 3rd quarter. Smartleaf Asset Management LLC now owns 1,182 shares of the company's stock valued at $44,000 after purchasing an additional 439 shares during the last quarter. Cornerstone Planning Group LLC grew its holdings in shares of Toast by 8,807.1% during the 4th quarter. Cornerstone Planning Group LLC now owns 1,247 shares of the company's stock valued at $44,000 after purchasing an additional 1,233 shares during the last quarter. Kohmann Bosshard Financial Services LLC bought a new stake in shares of Toast during the 4th quarter valued at approximately $45,000. Finally, GHP Investment Advisors Inc. grew its holdings in shares of Toast by 40.0% during the 4th 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 during the last quarter. 82.91% of the stock is owned by institutional investors.

Analysts Set New Price Targets

TOST has been the topic of several research reports. BMO Capital Markets reaffirmed an "outperform" rating on shares of Toast in a report on Monday, June 1st. Needham & Company LLC decreased their price target on shares of Toast from $60.00 to $35.00 and set a "buy" rating on the stock in a report on Friday, February 13th. Rothschild & Co Redburn reaffirmed a "neutral" rating and set a $35.00 price target on shares of Toast in a report on Tuesday, May 12th. Canaccord Genuity Group set a $37.00 target price on shares of Toast in a research report on Friday, February 13th. Finally, Wall Street Zen downgraded shares of Toast from a "buy" rating to a "hold" rating in a research report on Saturday, May 9th. One 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 company. Based on data from MarketBeat, Toast presently has an average rating of "Moderate Buy" and an average target price of $37.84.

Insider Transactions at Toast

In other news, President Stephen Fredette sold 7,289 shares of the business'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 $190,898.91. Following the transaction, the president owned 920,985 shares in the company, valued at approximately $24,120,597.15. The trade was a 0.79% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, General Counsel Brian R. Elworthy sold 108,000 shares of the business'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 in the company, valued at $4,909,831.38. This trade represents a 36.29% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. In the last ninety days, insiders have sold 147,783 shares of company stock worth $3,838,037. Company insiders own 10.03% of the company's stock.

Toast Price Performance

NYSE:TOST opened at $24.64 on Monday. The company has a market cap of $12.71 billion, a PE ratio of 37.91 and a beta of 1.76. Toast, Inc. has a one year low of $22.26 and a one year high of $49.66. The firm's 50 day simple moving average is $26.13 and its 200 day simple moving average is $29.85.

Toast declared that its Board of Directors has initiated a share buyback program on Thursday, February 12th that permits the company to repurchase $0.00 in outstanding shares. This repurchase authorization permits the company to reacquire shares of its stock through open market purchases. Stock repurchase programs are often a sign that the company's board believes its shares are 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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