Amova Asset Management Americas Inc. Sells 477,176 Shares of Toast, Inc. $TOST

Amova Asset Management Americas Inc. cut its holdings in Toast, Inc. (NYSE:TOST) by 11.2% in the 4th quarter, Holdings Channel reports. The institutional investor owned 3,801,347 shares of the company’s stock after selling 477,176 shares during the period. Toast accounts for 1.6% of Amova Asset Management Americas Inc.’s investment portfolio, making the stock its 17th largest holding. Amova Asset Management Americas Inc.’s holdings in Toast were worth $134,986,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently bought and sold shares of the business. Wynn Capital LLC boosted its holdings in Toast by 2.1% in the 4th 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 period. Bridgewater Advisors Inc. boosted its holdings in Toast by 2.3% in the 3rd quarter. Bridgewater Advisors Inc. now owns 13,107 shares of the company’s stock valued at $472,000 after purchasing an additional 294 shares during the period. BOKF NA boosted its holdings in Toast by 4.5% in the 3rd quarter. BOKF NA now owns 8,023 shares of the company’s stock valued at $293,000 after purchasing an additional 345 shares during the period. The Manufacturers Life Insurance Company boosted its holdings in Toast by 1.7% in the 2nd quarter. The Manufacturers Life Insurance Company now owns 22,857 shares of the company’s stock valued at $1,012,000 after purchasing an additional 380 shares during the period. Finally, Seven Mile Advisory boosted its holdings in Toast by 3.1% in the 3rd quarter. Seven Mile Advisory now owns 12,689 shares of the company’s stock valued at $463,000 after purchasing an additional 381 shares during the period. 82.91% of the stock is owned by institutional investors.

Analysts Set New Price Targets

TOST has been the subject of several analyst reports. Citigroup cut their price target on shares of Toast from $42.00 to $36.00 and set a “buy” rating for the company in a report on Friday, May 8th. Needham & Company LLC cut their price target on shares of Toast from $60.00 to $35.00 and set a “buy” rating for the company in a report on Friday, February 13th. Canaccord Genuity Group set a $37.00 price target on shares of Toast in a report on Friday, February 13th. BMO Capital Markets reissued an “outperform” rating on shares of Toast in a report on Monday, June 1st. Finally, Oppenheimer reissued an “outperform” rating and issued a $36.00 price target on shares of Toast in a report on Friday, May 8th. One investment analyst has rated the stock with a Strong Buy rating, seventeen have issued a Buy rating and eight have issued a Hold rating to the stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $37.84.

Toast Trading Up 4.1%

TOST stock opened at $25.10 on Wednesday. The firm’s 50-day moving average price is $26.08 and its two-hundred day moving average price is $29.73. Toast, Inc. has a 12-month low of $22.26 and a 12-month high of $49.66. The stock has a market capitalization of $12.95 billion, a price-to-earnings ratio of 38.61 and a beta of 1.76.

Toast announced that its Board of Directors has authorized a share repurchase plan on Thursday, February 12th that authorizes the company to buyback $0.00 in outstanding shares. This buyback authorization authorizes the company to reacquire shares of its stock through open market purchases. Shares buyback plans are often a sign that the company’s management believes its stock is undervalued.

Insider Transactions at Toast

In other news, CRO Jonathan Vassil sold 6,438 shares of Toast stock in a transaction dated Thursday, April 2nd. The shares were sold at an average price of $26.19, for a total transaction of $168,611.22. Following the sale, the executive owned 146,618 shares of the company’s stock, valued at approximately $3,839,925.42. The trade was a 4.21% decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, CFO Elena Gomez sold 8,929 shares of Toast 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 sale, the chief financial officer directly owned 173,064 shares in the company, valued at $4,532,546.16. The trade was a 4.91% decrease in their position. The disclosure for this sale is available in the SEC filing. In the last three months, insiders have sold 147,783 shares of company stock valued at $3,838,037. Company insiders own 10.03% of the company’s stock.

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.