Swiss Life Asset Management Ltd Sells 156,203 Shares of Toast, Inc. $TOST

Swiss Life Asset Management Ltd decreased its holdings in Toast, Inc. (NYSE:TOST) by 75.4% in the 4th quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 50,991 shares of the company’s stock after selling 156,203 shares during the quarter. Swiss Life Asset Management Ltd’s holdings in Toast were worth $1,811,000 as of its most recent SEC filing.

Several other institutional investors have also recently bought and sold shares of TOST. Quent Capital LLC bought a new position in Toast in the 3rd quarter valued at $27,000. Central Pacific Bank Trust Division raised its position in Toast by 123.5% in the 4th quarter. Central Pacific Bank Trust Division now owns 943 shares of the company’s stock valued at $33,000 after purchasing an additional 521 shares during the last quarter. Wolff Wiese Magana LLC bought a new position in Toast in the 3rd quarter valued at $37,000. Root Financial Partners LLC acquired a new stake in Toast in the 3rd quarter valued at about $42,000. Finally, Smartleaf Asset Management LLC increased its position in Toast by 59.1% in the 3rd quarter. Smartleaf Asset Management LLC now owns 1,182 shares of the company’s stock valued at $44,000 after acquiring an additional 439 shares in the last quarter. Institutional investors own 82.91% of the company’s stock.

Analysts Set New Price Targets

TOST has been the subject of several research reports. The Goldman Sachs Group lowered their price objective on shares of Toast from $43.00 to $31.00 and set a “neutral” rating for the company in a research report on Tuesday, February 17th. Canaccord Genuity Group set a $37.00 price objective on shares of Toast in a research report on Friday, February 13th. DA Davidson lowered their price objective on shares of Toast from $33.00 to $28.00 and set a “neutral” rating for the company in a research report on Tuesday. Loop Capital initiated coverage on Toast in a research report on Tuesday, March 31st. They issued a “hold” rating and a $26.00 price objective on the stock. Finally, Citigroup decreased their price objective on Toast from $42.00 to $36.00 and set a “buy” rating on the stock in a research report on Friday, May 8th. One equities research analyst has rated the stock with a Strong Buy rating, sixteen have given a Buy rating and eight have issued a Hold rating to the company’s stock. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $37.84.

Insider Activity at Toast

In other Toast news, President Stephen Fredette sold 7,289 shares of the company’s stock in a transaction on Thursday, April 2nd. The shares were sold at an average price of $26.19, for a total transaction of $190,898.91. Following the completion of the sale, the president owned 920,985 shares in the company, valued at approximately $24,120,597.15. The trade was a 0.79% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, CRO Jonathan Vassil sold 6,438 shares of the company’s stock in a transaction on 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 $3,839,925.42. The trade was a 4.21% decrease in their position. The disclosure for this sale is available in the SEC filing. In the last ninety days, insiders have sold 39,783 shares of company stock worth $1,041,917. 12.14% of the stock is owned by company insiders.

Toast Trading Down 0.2%

Toast stock opened at $23.02 on Friday. Toast, Inc. has a 1 year low of $22.26 and a 1 year high of $49.66. The company has a market cap of $11.88 billion, a PE ratio of 35.41 and a beta of 1.81. The company’s 50-day moving average is $27.27 and its two-hundred day moving average is $31.19.

Toast (NYSE:TOST) last released its earnings results on Thursday, February 12th. The company reported $0.16 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.24 by ($0.08). The business had revenue of $1.63 billion for the quarter, compared to analyst estimates of $1.62 billion. Toast had a net margin of 6.39% and a return on equity of 20.86%. The business’s revenue for the quarter was up 22.0% on a year-over-year basis. During the same quarter in the previous year, the company posted $0.05 earnings per share. Research analysts forecast that Toast, Inc. will post 0.81 EPS for the current year.

Toast declared that its board has initiated a stock buyback program on Thursday, February 12th that authorizes the company to buyback $0.00 in shares. This buyback authorization authorizes the company to purchase shares of its stock through open market purchases. Stock buyback programs are generally a sign that the company’s management believes its shares are undervalued.

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.