Riverbridge Partners LLC Decreases Position in Toast, Inc. $TOST

Riverbridge Partners LLC reduced its stake in shares of Toast, Inc. (NYSE:TOST) by 39.1% during the 1st quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 459,807 shares of the company’s stock after selling 295,245 shares during the quarter. Riverbridge Partners LLC owned 0.09% of Toast worth $12,189,000 as of its most recent filing with the SEC.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Bayban acquired a new position in shares of Toast during the fourth quarter worth $25,000. SHP Wealth Management acquired a new stake in Toast during the 4th quarter valued at $29,000. Strive Financial Group LLC acquired a new stake in Toast during the 4th quarter valued at $29,000. Central Pacific Bank Trust Division increased its stake in Toast by 123.5% during the 4th quarter. Central Pacific Bank Trust Division now owns 943 shares of the company’s stock worth $33,000 after buying an additional 521 shares during the period. Finally, Silicon Valley Capital Partners purchased a new stake in Toast during the 4th quarter worth $36,000. 82.91% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of equities analysts have weighed in on TOST shares. Rothschild & Co Redburn reissued a “neutral” rating and issued a $35.00 price objective on shares of Toast in a research report on Tuesday, May 12th. Truist Financial dropped their target price on Toast from $36.00 to $30.00 and set a “buy” rating on the stock in a research report on Tuesday, May 12th. Oppenheimer reaffirmed an “outperform” rating and set a $36.00 target price on shares of Toast in a research report on Friday, May 8th. Weiss Ratings reissued a “hold (c)” rating on shares of Toast in a report on Wednesday, May 20th. Finally, DA Davidson reduced their price target on Toast from $33.00 to $28.00 and set a “neutral” rating for the company in a report on Tuesday, May 12th. Two equities research analysts have rated the stock with a Strong Buy rating, seventeen have assigned a Buy rating and eight have assigned a Hold rating to the company’s stock. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and an average price target of $37.62.

Insider Activity at Toast

In other news, CEO Aman Narang sold 13,463 shares of Toast stock in a transaction that occurred on Thursday, April 2nd. The stock was sold at an average price of $26.19, for a total value of $352,595.97. Following the completion of the transaction, the chief executive officer owned 54,013 shares in the company, valued at approximately $1,414,600.47. This trade represents a 19.95% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CFO Elena Gomez sold 8,929 shares of Toast stock in a transaction on Thursday, April 2nd. The stock was 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 directly owned 173,064 shares of the company’s stock, valued at approximately $4,532,546.16. This represents a 4.91% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold a total of 147,783 shares of company stock worth $3,838,037 over the last quarter. 10.03% of the stock is owned by corporate insiders.

Toast Stock Performance

NYSE:TOST opened at $24.53 on Wednesday. The company has a market capitalization of $12.66 billion, a price-to-earnings ratio of 37.74 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 stock has a 50-day simple moving average of $25.76 and a 200 day simple moving average of $29.08.

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.