Nikko Asset Management Americas Inc. Lowers Holdings in Toast, Inc. $TOST

Nikko Asset Management Americas Inc. reduced its stake in shares of Toast, Inc. (NYSE:TOST) by 6.8% in the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 4,661,844 shares of the company’s stock after selling 340,908 shares during the quarter. Toast accounts for 2.1% of Nikko Asset Management Americas Inc.’s holdings, making the stock its 14th largest position. Nikko Asset Management Americas Inc.’s holdings in Toast were worth $206,333,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other large investors also recently bought and sold shares of TOST. RiverPark Advisors LLC acquired a new stake in shares of Toast during the 2nd quarter worth approximately $30,000. Ameritas Advisory Services LLC acquired a new position in shares of Toast in the 2nd quarter valued at $31,000. REAP Financial Group LLC boosted its holdings in Toast by 173.3% during the second quarter. REAP Financial Group LLC now owns 798 shares of the company’s stock worth $35,000 after buying an additional 506 shares in the last quarter. Motco purchased a new position in Toast in the second quarter valued at $44,000. Finally, Loomis Sayles & Co. L P acquired a new position in Toast in the second quarter valued at about $42,000. 82.91% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

TOST has been the subject of a number of recent analyst reports. Wolfe Research reiterated an “outperform” rating and set a $48.00 price target on shares of Toast in a research report on Wednesday, November 5th. Weiss Ratings reiterated a “hold (c-)” rating on shares of Toast in a report on Monday, December 8th. Truist Financial cut their target price on Toast from $47.00 to $43.00 and set a “buy” rating on the stock in a research report on Thursday, November 13th. BNP Paribas upgraded Toast from a “hold” rating to an “outperform” rating and set a $40.00 price target for the company in a research report on Monday, December 1st. Finally, BNP Paribas Exane raised Toast from a “neutral” rating to an “outperform” rating and set a $40.00 price objective for the company in a research note on Monday, December 1st. Two investment analysts have rated the stock with a Strong Buy rating, fourteen have given a Buy rating and eight have issued a Hold rating to the stock. According to data from MarketBeat.com, Toast currently has a consensus rating of “Moderate Buy” and a consensus target price of $45.18.

Toast Stock Down 2.0%

NYSE:TOST opened at $35.26 on Friday. Toast, Inc. has a 52 week low of $28.12 and a 52 week high of $49.66. The company has a fifty day simple moving average of $35.98 and a two-hundred day simple moving average of $40.58. The company has a market cap of $18.16 billion, a price-to-earnings ratio of 82.00 and a beta of 1.94.

Toast (NYSE:TOST) last released its earnings results on Tuesday, November 4th. The company reported $0.16 EPS for the quarter, missing the consensus estimate of $0.24 by ($0.08). Toast had a return on equity of 15.77% and a net margin of 4.68%.The company had revenue of $1.63 billion for the quarter, compared to analyst estimates of $1.58 billion. During the same period in the previous year, the firm earned $0.07 earnings per share. The company’s revenue for the quarter was up 25.1% compared to the same quarter last year. On average, analysts expect that Toast, Inc. will post 0.39 EPS for the current year.

Insiders Place Their Bets

In other news, CRO Jonathan Vassil sold 6,530 shares of the business’s stock in a transaction dated Thursday, October 2nd. The stock was sold at an average price of $35.56, for a total transaction of $232,206.80. Following the completion of the transaction, the executive directly owned 69,932 shares of the company’s stock, valued at approximately $2,486,781.92. The trade was a 8.54% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, General Counsel Brian R. Elworthy sold 4,987 shares of the firm’s stock in a transaction that occurred on Thursday, October 2nd. The shares were sold at an average price of $35.56, for a total transaction of $177,337.72. Following the completion of the sale, the general counsel directly owned 227,924 shares in the company, valued at approximately $8,104,977.44. This trade represents a 2.14% decrease in their position. The SEC filing for this sale provides additional information. In the last ninety days, insiders have sold 49,759 shares of company stock worth $1,769,270. Corporate insiders own 12.14% of the company’s stock.

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.