Amova Asset Management Americas Inc. Sells 383,321 Shares of Toast, Inc. $TOST

Amova Asset Management Americas Inc. trimmed its stake in Toast, Inc. (NYSE:TOST) by 8.2% in the third quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 4,278,523 shares of the company’s stock after selling 383,321 shares during the period. Toast comprises approximately 1.5% of Amova Asset Management Americas Inc.’s investment portfolio, making the stock its 18th biggest position. Amova Asset Management Americas Inc. owned approximately 0.83% of Toast worth $156,123,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Vanguard Group Inc. raised its position in shares of Toast by 0.8% during the third quarter. Vanguard Group Inc. now owns 44,764,157 shares of the company’s stock worth $1,634,339,000 after acquiring an additional 352,435 shares during the last quarter. Jennison Associates LLC increased its position in Toast by 74.4% during the 3rd quarter. Jennison Associates LLC now owns 15,000,561 shares of the company’s stock valued at $547,670,000 after purchasing an additional 6,398,674 shares during the period. State Street Corp raised its holdings in Toast by 2.7% during the 2nd quarter. State Street Corp now owns 9,212,889 shares of the company’s stock worth $408,039,000 after purchasing an additional 245,276 shares during the last quarter. Geode Capital Management LLC lifted its position in shares of Toast by 2.8% in the 2nd quarter. Geode Capital Management LLC now owns 7,902,519 shares of the company’s stock worth $348,906,000 after purchasing an additional 218,537 shares during the period. Finally, Marshall Wace LLP boosted its stake in shares of Toast by 108.3% in the 2nd quarter. Marshall Wace LLP now owns 7,887,409 shares of the company’s stock valued at $349,333,000 after purchasing an additional 4,100,104 shares during the last quarter. 82.91% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling at Toast

In other Toast news, CEO Aman Narang sold 1,648 shares of Toast stock in a transaction on Tuesday, February 3rd. The shares were sold at an average price of $30.34, for a total transaction of $50,000.32. Following the transaction, the chief executive officer directly owned 340,723 shares of the company’s stock, valued at $10,337,535.82. The trade was a 0.48% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, President Stephen Fredette sold 1,060 shares of the company’s stock in a transaction on 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 of the company’s stock, valued at approximately $27,702,452.78. The trade was 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 in the last three months. Insiders own 12.14% of the company’s stock.

Analyst Ratings Changes

A number of brokerages recently weighed in on TOST. Mizuho lowered their target price on shares of Toast from $57.00 to $45.00 and set an “outperform” rating for the company in a research note on Tuesday, February 17th. Weiss Ratings reissued a “hold (c-)” rating on shares of Toast in a research report on Monday, December 29th. UBS Group set a $40.00 target price on Toast in a research report on Friday, February 13th. Wolfe Research cut Toast from an “outperform” rating to a “peer perform” rating in a research note on Thursday, January 8th. Finally, Needham & Company LLC dropped their price target on Toast from $60.00 to $35.00 and set a “buy” rating on the stock in a research note on Friday, February 13th. Seventeen investment analysts have rated the stock with a Buy rating and seven have issued a Hold rating to the company’s stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average target price of $40.46.

Toast Price Performance

TOST opened at $29.55 on Thursday. Toast, Inc. has a fifty-two week low of $24.35 and a fifty-two week high of $49.66. The firm has a market capitalization of $15.48 billion, a PE ratio of 54.72 and a beta of 1.95. The company’s 50-day moving average is $31.39 and its 200 day moving average is $35.53.

Toast (NYSE:TOST) last issued its quarterly earnings data on Thursday, February 12th. The company reported $0.16 EPS for the quarter, missing analysts’ consensus estimates of $0.24 by ($0.08). The company had revenue of $1.63 billion for the quarter, compared to the consensus estimate of $1.62 billion. Toast had a return on equity of 18.14% and a net margin of 5.56%.The business’s revenue for the quarter was up 22.0% on a year-over-year basis. During the same period in the prior year, the firm posted $0.05 earnings per share. As a group, analysts expect that Toast, Inc. will post 0.39 EPS for the current year.

Toast declared that its Board of Directors has authorized a share repurchase program on Thursday, February 12th that allows the company to repurchase $0.00 in outstanding shares. This repurchase authorization allows the company to reacquire shares of its stock through open market purchases. Stock repurchase programs are generally a sign that the company’s leadership believes its shares are undervalued.

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.