Toast, Inc. $TOST Shares Sold by Sumitomo Mitsui Trust Group Inc.

Sumitomo Mitsui Trust Group Inc. trimmed its position in shares of Toast, Inc. (NYSE:TOST) by 3.8% during the second quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 5,534,650 shares of the company’s stock after selling 221,222 shares during the quarter. Sumitomo Mitsui Trust Group Inc. owned 1.11% of Toast worth $245,130,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also made changes to their positions in the company. IFM Investors Pty Ltd increased its stake in shares of Toast by 29.2% during the second quarter. IFM Investors Pty Ltd now owns 83,803 shares of the company’s stock worth $3,712,000 after acquiring an additional 18,950 shares during the period. Charles Schwab Investment Management Inc. grew its position in Toast by 5.2% during the first quarter. Charles Schwab Investment Management Inc. now owns 3,092,210 shares of the company’s stock worth $102,569,000 after buying an additional 153,723 shares during the period. Principal Financial Group Inc. grew its position in Toast by 14,258.8% during the first quarter. Principal Financial Group Inc. now owns 5,474,443 shares of the company’s stock worth $181,587,000 after buying an additional 5,436,317 shares during the period. Comerica Bank grew its position in Toast by 122.9% during the first quarter. Comerica Bank now owns 76,644 shares of the company’s stock worth $2,542,000 after buying an additional 42,266 shares during the period. Finally, Graham Capital Management L.P. grew its position in Toast by 373.5% during the first quarter. Graham Capital Management L.P. now owns 43,778 shares of the company’s stock worth $1,452,000 after buying an additional 34,532 shares during the period. 82.91% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several research analysts have weighed in on TOST shares. DA Davidson upped their target price on shares of Toast from $40.00 to $46.00 and gave the stock a “neutral” rating in a research report on Tuesday, July 29th. JPMorgan Chase & Co. upped their target price on shares of Toast from $42.00 to $52.00 and gave the stock a “neutral” rating in a research report on Wednesday, August 6th. Weiss Ratings reaffirmed a “hold (c)” rating on shares of Toast in a report on Friday. The Goldman Sachs Group dropped their price objective on shares of Toast from $51.00 to $41.00 and set a “neutral” rating for the company in a research note on Monday, October 13th. Finally, Keefe, Bruyette & Woods reduced their price objective on shares of Toast from $50.00 to $42.00 and set a “market perform” rating on the stock in a research note on Wednesday, October 1st. Two equities research analysts have rated the stock with a Strong Buy rating, thirteen have given a Buy rating and ten have given a Hold rating to the stock. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average target price of $46.17.

Insider Activity

In other Toast news, President Stephen Fredette sold 7,550 shares of the stock in a transaction on Thursday, October 2nd. The shares were sold at an average price of $35.56, for a total transaction of $268,478.00. Following the transaction, the president directly owned 898,475 shares in the company, valued at $31,949,771. This represents a 0.83% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, CEO Aman Narang sold 13,652 shares of the stock in a transaction on Thursday, October 2nd. The shares were sold at an average price of $35.56, for a total transaction of $485,465.12. Following the transaction, the chief executive officer owned 318,150 shares in the company, valued at $11,313,414. This trade represents a 4.11% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 62,196 shares of company stock worth $2,398,513 over the last ninety days. Insiders own 12.14% of the company’s stock.

Toast Trading Down 1.2%

TOST opened at $38.32 on Friday. The company has a fifty day simple moving average of $39.70 and a 200 day simple moving average of $41.12. The firm has a market cap of $19.54 billion, a price-to-earnings ratio of 112.71 and a beta of 1.94. Toast, Inc. has a twelve month low of $28.12 and a twelve month high of $49.66.

Toast (NYSE:TOST) last posted its quarterly earnings data on Tuesday, August 5th. The company reported $0.13 EPS for the quarter, missing analysts’ consensus estimates of $0.23 by ($0.10). Toast had a net margin of 4.07% and a return on equity of 14.19%. The company had revenue of $1.55 billion for the quarter, compared to the consensus estimate of $1.52 billion. During the same quarter last year, the company earned $0.02 earnings per share. The company’s revenue was up 24.8% compared to the same quarter last year. On average, analysts forecast that Toast, Inc. will post 0.39 earnings per share for the current fiscal year.

Toast Company 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.