Sumitomo Mitsui Trust Holdings Inc. Buys 280,418 Shares of Toast, Inc. (NYSE:TOST)

Sumitomo Mitsui Trust Holdings Inc. boosted its position in Toast, Inc. (NYSE:TOST) by 4.2% during the first quarter, Holdings Channel.com reports. The fund owned 6,880,795 shares of the company’s stock after acquiring an additional 280,418 shares during the period. Sumitomo Mitsui Trust Holdings Inc.’s holdings in Toast were worth $171,469,000 at the end of the most recent quarter.

A number of other institutional investors also recently modified their holdings of the company. Morgan Stanley lifted its stake in Toast by 149.3% in the third quarter. Morgan Stanley now owns 12,007,286 shares of the company’s stock worth $224,896,000 after acquiring an additional 7,191,595 shares during the period. Norges Bank bought a new position in Toast in the fourth quarter worth about $76,699,000. Meritage Group LP purchased a new stake in Toast in the fourth quarter worth about $70,270,000. Vanguard Group Inc. lifted its holdings in Toast by 11.1% in the third quarter. Vanguard Group Inc. now owns 35,079,123 shares of the company’s stock worth $657,032,000 after buying an additional 3,494,579 shares during the period. Finally, Nikko Asset Management Americas Inc. boosted its position in Toast by 82.7% during the 4th quarter. Nikko Asset Management Americas Inc. now owns 5,974,664 shares of the company’s stock valued at $109,097,000 after acquiring an additional 2,704,039 shares in the last quarter. 82.91% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity at Toast

In other Toast news, CFO Elena Gomez sold 12,500 shares of Toast stock in a transaction that occurred on Wednesday, May 8th. The shares were sold at an average price of $26.39, for a total transaction of $329,875.00. Following the transaction, the chief financial officer now owns 176,980 shares of the company’s stock, valued at $4,670,502.20. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. In related news, CRO Jonathan Vassil sold 50,000 shares of the company’s stock in a transaction on Monday, April 15th. The shares were sold at an average price of $22.90, for a total transaction of $1,145,000.00. Following the completion of the transaction, the executive now owns 25,422 shares in the company, valued at $582,163.80. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CFO Elena Gomez sold 12,500 shares of the business’s stock in a transaction on Wednesday, May 8th. The stock was sold at an average price of $26.39, for a total transaction of $329,875.00. Following the completion of the sale, the chief financial officer now owns 176,980 shares in the company, valued at approximately $4,670,502.20. The disclosure for this sale can be found here. Over the last three months, insiders have sold 197,449 shares of company stock worth $4,817,383. Corporate insiders own 13.32% of the company’s stock.

Wall Street Analyst Weigh In

A number of research analysts have recently commented on TOST shares. Mizuho raised their target price on Toast from $17.00 to $21.00 and gave the company a “neutral” rating in a research note on Thursday, May 9th. UBS Group upped their price objective on shares of Toast from $22.00 to $31.00 and gave the stock a “buy” rating in a report on Thursday, March 28th. Wedbush reaffirmed an “outperform” rating and set a $30.00 price objective on shares of Toast in a research report on Thursday, May 30th. Keefe, Bruyette & Woods reissued a “market perform” rating and issued a $26.00 target price on shares of Toast in a report on Wednesday, May 29th. Finally, BNP Paribas upgraded Toast from a “neutral” rating to an “outperform” rating and set a $30.00 price target for the company in a report on Thursday, March 7th. One investment analyst has rated the stock with a sell rating, ten have assigned a hold rating and ten have assigned a buy rating to the company. According to MarketBeat, the stock has a consensus rating of “Hold” and an average price target of $26.14.

Toast Stock Up 0.8 %

Shares of Toast stock traded up $0.22 during trading hours on Wednesday, reaching $26.21. 502,584 shares of the stock traded hands, compared to its average volume of 8,060,295. Toast, Inc. has a one year low of $13.77 and a one year high of $27.90. The firm has a market capitalization of $11.87 billion, a price-to-earnings ratio of -51.90 and a beta of 1.76. The company has a 50 day moving average price of $24.63 and a 200 day moving average price of $22.20.

Toast (NYSE:TOST) last announced its earnings results on Tuesday, May 7th. The company reported ($0.15) EPS for the quarter, meeting analysts’ consensus estimates of ($0.15). The business had revenue of $1.08 billion during the quarter, compared to analysts’ expectations of $1.04 billion. Toast had a negative net margin of 6.02% and a negative return on equity of 21.45%. The firm’s revenue was up 31.3% on a year-over-year basis. During the same period in the prior year, the company earned ($0.16) earnings per share. Sell-side analysts anticipate that Toast, Inc. will post -0.14 earnings per share for the current year.

Toast Profile

Toast, Inc operates a cloud-based digital technology platform for the restaurant industry in the United States, Ireland, and India. The company offers software products for restaurant operations and point of sale, such as Toast POS, Toast now, multi-location management, kitchen display system, Toast mobile order and pay, Toast catering and events, Toast invoicing, Toast tables, and restaurant retail; and hardware products, including Toast flex, Toast flex for guest, Toast go 2, Toast tap, kiosks, and Delphi by Toast.