Amova Asset Management Americas Inc. Raises Stake in Toast, Inc. $TOST

Amova Asset Management Americas Inc. grew its holdings in Toast, Inc. (NYSE:TOST) by 0.4% in the first quarter, according to its most recent disclosure with the SEC. The fund owned 3,817,961 shares of the company’s stock after buying an additional 16,614 shares during the period. Toast accounts for approximately 1.4% of Amova Asset Management Americas Inc.’s portfolio, making the stock its 21st largest position. Amova Asset Management Americas Inc.’s holdings in Toast were worth $101,176,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently made changes to their positions in the company. Bayban purchased a new stake in Toast during the 4th quarter valued at approximately $25,000. SHP Wealth Management acquired a new position in Toast in the 4th quarter valued at $29,000. Strive Financial Group LLC acquired a new position in Toast in the 4th quarter valued at $29,000. Central Pacific Bank Trust Division raised its position 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 last quarter. Finally, Silicon Valley Capital Partners purchased a new position in Toast during the 4th quarter worth $36,000. Hedge funds and other institutional investors own 82.91% of the company’s stock.

Analyst Upgrades and Downgrades

Several analysts have recently weighed in on TOST shares. Wall Street Zen downgraded shares of Toast from a “buy” rating to a “hold” rating in a report on Saturday, July 4th. Loop Capital began coverage on shares of Toast in a research report on Tuesday, March 31st. They issued a “hold” rating and a $26.00 price objective for the company. Barclays assumed coverage on Toast in a report on Tuesday, July 7th. They issued an “overweight” rating and a $35.00 price objective on the stock. Robert W. Baird increased their price objective on Toast from $30.00 to $33.00 and gave the stock a “neutral” rating in a research report on Wednesday, July 8th. Finally, Truist Financial reduced their target price on Toast from $36.00 to $30.00 and set a “buy” rating for the company in a report on Tuesday, May 12th. Two analysts have rated the stock with a Strong Buy rating, sixteen have issued a Buy rating and eight have given a Hold rating to the stock. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus target price of $36.96.

Toast Stock Up 2.7%

Shares of NYSE:TOST opened at $30.89 on Tuesday. The company has a market capitalization of $15.94 billion, a P/E ratio of 47.52 and a beta of 1.74. Toast, Inc. has a 52-week low of $22.26 and a 52-week high of $49.66. The stock’s fifty day simple moving average is $26.05 and its 200-day simple moving average is $28.16.

Toast (NYSE:TOST) last announced its earnings results on Thursday, May 7th. The company reported $0.20 earnings per share for the quarter, missing the consensus estimate of $0.28 by ($0.08). The firm had revenue of $1.63 billion during the quarter, compared to analyst estimates of $1.63 billion. Toast had a net margin of 6.39% and a return on equity of 20.86%. The company’s revenue for the quarter was up 21.9% compared to the same quarter last year. During the same period in the previous year, the firm posted $0.09 EPS. On average, sell-side analysts anticipate that Toast, Inc. will post 0.97 earnings per share for the current year.

Insiders Place Their Bets

In other Toast news, CEO Aman Narang sold 14,365 shares of Toast stock in a transaction that occurred on Thursday, July 2nd. The shares were sold at an average price of $28.85, for a total value of $414,430.25. Following the completion of the sale, the chief executive officer directly owned 70,451 shares of the company’s stock, valued at approximately $2,032,511.35. The trade was a 16.94% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, CFO Elena Gomez sold 11,605 shares of the business’s stock in a transaction on Thursday, July 2nd. The shares were sold at an average price of $28.85, for a total value of $334,804.25. Following the completion of the transaction, the chief financial officer owned 185,150 shares of the company’s stock, valued at $5,341,577.50. This trade represents a 5.90% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Over the last quarter, insiders have sold 159,265 shares of company stock valued at $4,278,832. 10.03% of the stock is currently owned by insiders.

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.