Toast, Inc. $TOST Shares Sold by Riverbridge Partners LLC

Riverbridge Partners LLC decreased its position in shares of Toast, Inc. (NYSE:TOST) by 39.1% in the 1st quarter, according to the company in its most recent Form 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’s holdings in Toast were worth $12,189,000 as of its most recent filing with the SEC.

Other institutional investors have also modified their holdings of the company. Capital International Investors lifted its position in Toast by 7.4% in 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 during the last quarter. Jennison Associates LLC grew its position in Toast by 1.0% in the 4th quarter. Jennison Associates LLC now owns 15,157,955 shares of the company’s stock worth $538,259,000 after purchasing an additional 157,394 shares during the last quarter. Morgan Stanley grew its position in Toast by 6.7% in the 4th quarter. Morgan Stanley now owns 10,372,626 shares of the company’s stock worth $368,332,000 after purchasing an additional 653,487 shares during the last quarter. State Street Corp increased its stake in shares of Toast by 3.0% in the fourth quarter. State Street Corp now owns 9,820,594 shares of the company’s stock valued at $348,729,000 after purchasing an additional 282,282 shares during the period. Finally, XN LP increased its stake in shares of Toast by 50.8% in the fourth quarter. XN LP now owns 8,988,386 shares of the company’s stock valued at $319,178,000 after purchasing an additional 3,029,856 shares during the period. Institutional investors own 82.91% of the company’s stock.

Toast Price Performance

TOST opened at $24.53 on Wednesday. The business has a 50 day moving average price of $25.76 and a two-hundred day moving average price of $29.08. 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 1-year low of $22.26 and a 1-year high of $49.66.

Analysts Set New Price Targets

Several brokerages have recently issued reports on TOST. Mizuho reduced their price objective on Toast from $45.00 to $38.00 and set an “outperform” rating for the company in a research report on Tuesday, May 12th. Citigroup lowered their target price on Toast from $42.00 to $36.00 and set a “buy” rating on the stock in a research report on Friday, May 8th. UBS Group reduced their price target on Toast from $40.00 to $34.00 and set a “buy” rating for the company in a research report on Friday, May 8th. Piper Sandler assumed coverage on Toast in a research note on Wednesday, June 10th. They issued an “overweight” rating and a $32.00 price target for the company. Finally, Weiss Ratings reissued a “hold (c)” rating on shares of Toast in a research note on Wednesday, May 20th. Two research analysts have rated the stock with a Strong Buy rating, seventeen have given a Buy rating and eight have given a Hold rating to the company. According to MarketBeat, Toast has a consensus rating of “Moderate Buy” and an average price target of $37.62.

Insider Activity

In other Toast news, CRO Jonathan Vassil sold 6,438 shares of the business’s stock in a transaction dated Thursday, April 2nd. The shares were sold at an average price of $26.19, for a total value of $168,611.22. Following the sale, the executive directly owned 146,618 shares in the company, valued at approximately $3,839,925.42. The trade was a 4.21% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CFO Elena Gomez sold 8,929 shares of the company’s 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 sale, the chief financial officer directly owned 173,064 shares of the company’s stock, valued at $4,532,546.16. The trade was a 4.91% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold 147,783 shares of company stock valued at $3,838,037 over the last quarter. Insiders own 10.03% of the company’s stock.

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.