TD Asset Management Inc Has $20.42 Million Position in Toast, Inc. $TOST

TD Asset Management Inc lessened its stake in shares of Toast, Inc. (NYSE:TOST) by 32.6% during the fourth quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 574,916 shares of the company’s stock after selling 278,673 shares during the period. TD Asset Management Inc’s holdings in Toast were worth $20,415,000 at the end of the most recent reporting period.

A number of other institutional investors also recently modified their holdings of TOST. Allianz Asset Management GmbH increased its stake in Toast by 322.0% during the 3rd quarter. Allianz Asset Management GmbH now owns 362,765 shares of the company’s stock valued at $13,245,000 after purchasing an additional 276,803 shares in the last quarter. Candriam S.C.A. increased its stake in Toast by 10.9% during the 3rd quarter. Candriam S.C.A. now owns 602,200 shares of the company’s stock valued at $21,986,000 after purchasing an additional 59,045 shares in the last quarter. Citigroup Inc. increased its stake in Toast by 17.2% during the 3rd quarter. Citigroup Inc. now owns 1,042,102 shares of the company’s stock valued at $38,047,000 after purchasing an additional 152,807 shares in the last quarter. Quantbot Technologies LP bought a new stake in Toast during the 3rd quarter valued at $2,891,000. Finally, Capital International Investors increased its stake in Toast by 7.4% during the 3rd quarter. Capital International Investors now owns 48,428,060 shares of the company’s stock valued at $1,768,256,000 after purchasing an additional 3,351,545 shares in the last quarter. Institutional investors and hedge funds own 82.91% of the company’s stock.

Analysts Set New Price Targets

A number of analysts have commented on the stock. Weiss Ratings restated a “hold (c)” rating on shares of Toast in a research note on Wednesday, May 20th. UBS Group reduced their target price on shares of Toast from $40.00 to $34.00 and set a “buy” rating for the company in a research note on Friday, May 8th. Rothschild & Co Redburn reiterated a “neutral” rating and issued a $35.00 target price on shares of Toast in a research note on Tuesday, May 12th. Wells Fargo & Company reduced their target price on shares of Toast from $47.00 to $36.00 and set an “overweight” rating for the company in a research note on Friday, February 13th. Finally, Mizuho reduced their target price on shares of Toast from $45.00 to $38.00 and set an “outperform” rating for the company in a research note on Tuesday, May 12th. One analyst has rated the stock with a Strong Buy rating, seventeen have assigned a Buy rating and eight have assigned a Hold rating to the stock. According to MarketBeat, Toast currently has a consensus rating of “Moderate Buy” and a consensus target price of $37.84.

Toast Stock Performance

TOST opened at $24.64 on Monday. The firm has a market cap of $12.71 billion, a P/E ratio of 37.91 and a beta of 1.76. The firm has a 50-day moving average of $26.13 and a 200 day moving average of $29.85. Toast, Inc. has a fifty-two week low of $22.26 and a fifty-two week high of $49.66.

Toast declared that its board has authorized a stock 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 typically an indication that the company’s board believes its shares are undervalued.

Insider Activity at Toast

In related news, CFO Elena Gomez sold 8,929 shares of the stock in a transaction dated Thursday, April 2nd. The shares were sold at an average price of $26.19, for a total transaction of $233,850.51. Following the completion of the transaction, the chief financial officer owned 173,064 shares in the company, valued at approximately $4,532,546.16. This represents a 4.91% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, President Stephen Fredette sold 7,289 shares of the stock in a transaction dated Thursday, April 2nd. The shares were sold at an average price of $26.19, for a total transaction of $190,898.91. Following the transaction, the president owned 920,985 shares of the company’s stock, valued at approximately $24,120,597.15. The trade was a 0.79% decrease in their position. The SEC filing for this sale provides additional information. Insiders have sold 147,783 shares of company stock valued at $3,838,037 in the last 90 days. 10.03% of the stock is currently owned by company insiders.

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.