Mitsubishi UFJ Trust & Banking Corp Sells 48,282 Shares of Toast, Inc. $TOST

Mitsubishi UFJ Trust & Banking Corp decreased its position in shares of Toast, Inc. (NYSE:TOST) by 13.4% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 312,366 shares of the company’s stock after selling 48,282 shares during the period. Mitsubishi UFJ Trust & Banking Corp’s holdings in Toast were worth $11,404,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently modified their holdings of the company. Jennison Associates LLC increased its position in Toast by 74.4% during the third quarter. Jennison Associates LLC now owns 15,000,561 shares of the company’s stock worth $547,670,000 after acquiring an additional 6,398,674 shares during the period. Envestnet Portfolio Solutions Inc. boosted its holdings in Toast by 59.0% in the 3rd quarter. Envestnet Portfolio Solutions Inc. now owns 26,552 shares of the company’s stock valued at $969,000 after purchasing an additional 9,855 shares during the period. Investment Management Corp VA ADV grew its position in shares of Toast by 2.4% during the 3rd quarter. Investment Management Corp VA ADV now owns 14,192 shares of the company’s stock worth $518,000 after purchasing an additional 339 shares in the last quarter. iA Global Asset Management Inc. increased its holdings in shares of Toast by 94.7% during the third quarter. iA Global Asset Management Inc. now owns 34,092 shares of the company’s stock worth $1,245,000 after purchasing an additional 16,581 shares during the period. Finally, Covestor Ltd raised its position in shares of Toast by 14.6% in the third quarter. Covestor Ltd now owns 4,461 shares of the company’s stock valued at $163,000 after buying an additional 570 shares in the last quarter. Institutional investors and hedge funds own 82.91% of the company’s stock.

Toast Stock Down 2.0%

Shares of TOST stock opened at $31.84 on Thursday. Toast, Inc. has a twelve month low of $28.12 and a twelve month high of $49.66. The company has a market cap of $16.40 billion, a P/E ratio of 74.03 and a beta of 1.93. The business has a fifty day simple moving average of $34.84 and a 200 day simple moving average of $38.74.

Toast (NYSE:TOST) last released its earnings results on Tuesday, November 4th. 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 during the quarter, compared to the consensus estimate of $1.58 billion. Toast had a net margin of 4.68% and a return on equity of 15.77%. The business’s revenue was up 25.1% on a year-over-year basis. During the same quarter in the prior year, the firm earned $0.07 EPS. As a group, equities research analysts anticipate that Toast, Inc. will post 0.39 earnings per share for the current fiscal year.

Analysts Set New Price Targets

TOST has been the topic of a number of analyst reports. Wolfe Research downgraded Toast from an “outperform” rating to a “peer perform” rating in a research report on Thursday, January 8th. JPMorgan Chase & Co. upgraded Toast from a “neutral” rating to an “overweight” rating and set a $43.00 target price for the company in a research report on Thursday, December 4th. Weiss Ratings restated a “hold (c-)” rating on shares of Toast in a research report on Monday, December 29th. Stephens set a $42.00 price objective on shares of Toast in a research report on Friday, January 16th. Finally, Truist Financial set a $42.00 price objective on shares of Toast in a research note on Tuesday, January 20th. Two analysts have rated the stock with a Strong Buy rating, thirteen have issued a Buy rating and eight have assigned a Hold rating to the company. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average target price of $45.82.

Insider Buying and Selling at Toast

In other Toast news, President Stephen Fredette sold 4,866 shares of the business’s stock in a transaction on Monday, January 5th. The shares were sold at an average price of $34.38, for a total transaction of $167,293.08. Following the sale, the president owned 910,606 shares of the company’s stock, valued at approximately $31,306,634.28. The trade was a 0.53% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, CFO Elena Gomez sold 6,672 shares of the stock in a transaction on Monday, January 5th. The shares were sold at an average price of $34.38, for a total value of $229,383.36. Following the completion of the transaction, the chief financial officer owned 162,153 shares of the company’s stock, valued at $5,574,820.14. The trade was a 3.95% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders sold 102,595 shares of company stock worth $3,634,737 over the last 90 days. 12.14% of the stock is owned by corporate insiders.

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.