Toast, Inc. (NYSE:TOST) Shares Acquired by Mitsubishi UFJ Kokusai Asset Management Co. Ltd.

Mitsubishi UFJ Kokusai Asset Management Co. Ltd. increased its position in shares of Toast, Inc. (NYSE:TOST) by 44.3% during the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 111,271 shares of the company’s stock after purchasing an additional 34,150 shares during the quarter. Mitsubishi UFJ Kokusai Asset Management Co. Ltd.’s holdings in Toast were worth $2,511,000 at the end of the most recent reporting period.

Other large investors have also recently added to or reduced their stakes in the company. BI Asset Management Fondsmaeglerselskab A S bought a new position in Toast during the second quarter worth $29,000. PNC Financial Services Group Inc. lifted its stake in Toast by 277.5% during the fourth quarter. PNC Financial Services Group Inc. now owns 1,710 shares of the company’s stock worth $31,000 after purchasing an additional 1,257 shares during the last quarter. Spire Wealth Management lifted its stake in Toast by 2,196.0% during the first quarter. Spire Wealth Management now owns 2,296 shares of the company’s stock worth $41,000 after purchasing an additional 2,196 shares during the last quarter. American International Group Inc. bought a new position in Toast during the second quarter worth $46,000. Finally, CWM LLC lifted its stake in Toast by 95.1% in the first quarter. CWM LLC now owns 2,641 shares of the company’s stock valued at $47,000 after buying an additional 1,287 shares during the last quarter. 60.29% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

A number of equities research analysts have issued reports on the company. UBS Group reiterated a “buy” rating and issued a $24.00 target price on shares of Toast in a research note on Friday, October 20th. JPMorgan Chase & Co. cut their target price on Toast from $26.00 to $19.00 and set a “neutral” rating on the stock in a research note on Wednesday, November 8th. Credit Suisse Group raised their target price on Toast from $23.00 to $25.00 and gave the company a “neutral” rating in a research note on Wednesday, August 9th. Mizuho lowered Toast from a “buy” rating to a “neutral” rating and lowered their price target for the company from $30.00 to $16.00 in a report on Monday, October 2nd. Finally, Needham & Company LLC lowered their price target on Toast from $31.00 to $20.00 and set a “buy” rating on the stock in a report on Wednesday, November 8th. One analyst has rated the stock with a sell rating, eleven have assigned a hold rating and eight have given a buy rating to the company’s stock. Based on data from MarketBeat, Toast presently has an average rating of “Hold” and an average price target of $20.72.

Toast Trading Up 1.1 %

Shares of TOST opened at $14.40 on Monday. The business’s 50-day moving average price is $17.51 and its 200 day moving average price is $20.31. The stock has a market capitalization of $6.12 billion, a P/E ratio of -22.86 and a beta of 1.77. Toast, Inc. has a 1-year low of $13.80 and a 1-year high of $27.00.

Toast (NYSE:TOST) last issued its quarterly earnings results on Tuesday, November 7th. The company reported ($0.09) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.11) by $0.02. The firm had revenue of $1.03 billion for the quarter, compared to analysts’ expectations of $1.03 billion. Toast had a negative return on equity of 27.94% and a negative net margin of 8.59%. Toast’s revenue was up 37.2% on a year-over-year basis. During the same quarter last year, the business posted ($0.19) EPS. On average, research analysts predict that Toast, Inc. will post -0.52 earnings per share for the current year.

Insiders Place Their Bets

In other Toast news, General Counsel Brian R. Elworthy sold 1,486 shares of the firm’s stock in a transaction dated Tuesday, October 3rd. The stock was sold at an average price of $17.51, for a total transaction of $26,019.86. Following the completion of the sale, the general counsel now directly owns 378,617 shares in the company, valued at approximately $6,629,583.67. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. In other Toast news, General Counsel Brian R. Elworthy sold 1,486 shares of the firm’s stock in a transaction dated Tuesday, October 3rd. The stock was sold at an average price of $17.51, for a total transaction of $26,019.86. Following the completion of the sale, the general counsel now directly owns 378,617 shares in the company, valued at approximately $6,629,583.67. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, COO Aman Narang sold 248,509 shares of the firm’s stock in a transaction dated Monday, September 18th. The stock was sold at an average price of $20.41, for a total value of $5,072,068.69. Following the sale, the chief operating officer now owns 1,143,549 shares of the company’s stock, valued at $23,339,835.09. The disclosure for this sale can be found here. In the last ninety days, insiders sold 402,322 shares of company stock worth $7,938,852. 13.70% of the stock is currently owned by company insiders.

Toast Profile

Toast, Inc operates a cloud-based digital technology platform for the restaurant industry in the United States and Ireland. The company offers Toast POS, a software module that integrates payment processing with point of sale functionality; Toast Invoicing that allows restaurants to send invoices and collect payment; Toast Mobile Order & Pay, which allows guests to scan a QR code to browse the menu, order, and pay from mobile; Kitchen Display System software that connects the house with the kitchen staff; and Multi-Location Management, a tool to manage operations and configure menus across multiple locations and channels.