Riverbridge Partners LLC Cuts Stake in Toast, Inc. $TOST

Riverbridge Partners LLC lessened its stake in Toast, Inc. (NYSE:TOST) by 21.6% in the 4th quarter, according to the company in its most recent 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’s holdings in Toast were 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 company. Wynn Capital LLC raised its holdings in Toast by 2.1% in the fourth quarter. Wynn Capital LLC now owns 13,755 shares of the company’s stock worth $488,000 after buying an additional 280 shares during the last quarter. Fiduciary Financial Group LLC bought a new stake in shares of Toast during the fourth quarter valued at approximately $1,661,000. Wealth Management Partners LLC increased its position in shares of Toast by 39.4% during the fourth quarter. Wealth Management Partners LLC now owns 8,783 shares of the company’s stock valued at $312,000 after acquiring an additional 2,483 shares in the last quarter. SG Americas Securities LLC raised its holdings in Toast by 285.3% in the 4th quarter. SG Americas Securities LLC now owns 288,286 shares of the company’s stock worth $10,237,000 after acquiring an additional 213,459 shares during the last quarter. Finally, Diversified Trust Co. raised its holdings in Toast by 58.9% in the 4th quarter. Diversified Trust Co. now owns 29,365 shares of the company’s stock worth $1,043,000 after acquiring an additional 10,881 shares during the last quarter. Institutional investors own 82.91% of the company’s stock.

Toast Trading Down 1.8%

NYSE:TOST opened at $26.34 on Friday. The company has a market cap of $13.80 billion, a PE ratio of 48.77 and a beta of 1.95. The company has a 50 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) last released its quarterly earnings results on Thursday, February 12th. The company reported $0.16 earnings per share for the quarter, missing the consensus estimate of $0.24 by ($0.08). Toast had a net margin of 5.56% and a return on equity of 18.14%. The firm had revenue of $1.63 billion for the quarter, compared to the consensus estimate of $1.62 billion. During the same period in the previous year, the company earned $0.05 earnings per share. Toast’s quarterly revenue was up 22.0% compared to the same quarter last year. Research analysts forecast that Toast, Inc. will post 0.39 earnings per share for the current year.

Toast announced that its Board of Directors has approved a share buyback plan 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. Shares buyback plans are typically an indication that the company’s management believes its shares are undervalued.

Insider Buying and Selling

In other news, CRO Jonathan Vassil sold 66,390 shares of the company’s stock in a transaction dated Friday, January 2nd. The shares were sold at an average price of $35.86, for a total transaction of $2,380,745.40. Following the completion of the sale, the executive owned 84,589 shares of the company’s stock, valued at $3,033,361.54. This represents a 43.97% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, President Stephen Fredette sold 4,866 shares of the stock in a transaction that occurred on Monday, January 5th. The stock was sold at an average price of $34.38, for a total transaction of $167,293.08. Following the completion of the transaction, the president owned 910,606 shares in the company, valued at $31,306,634.28. This trade represents a 0.53% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders have sold 100,856 shares of company stock valued at $3,540,449 in the last 90 days. Insiders own 12.14% of the company’s stock.

Analyst Upgrades and Downgrades

Several brokerages have commented on TOST. Canaccord Genuity Group set a $37.00 target price on Toast in a research note on Friday, February 13th. Stephens set a $42.00 price target on Toast in a research note on Friday, January 16th. Evercore raised Toast from an “in-line” rating to an “outperform” rating and set a $40.00 price target on the stock in a report on Tuesday, January 20th. Oppenheimer dropped their price objective on Toast from $48.00 to $39.00 and set an “outperform” rating on the stock in a research report on Friday, February 13th. Finally, JPMorgan Chase & Co. upgraded 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. Seventeen analysts have rated the stock with a Buy rating and seven have issued a Hold rating to the stock. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus price target of $40.46.

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.