Mitsubishi UFJ Asset Management Co. Ltd. Has $20.65 Million Stake in Toast, Inc. $TOST

Mitsubishi UFJ Asset Management Co. Ltd. lifted its stake in Toast, Inc. (NYSE:TOST) by 18.3% in the second quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 466,260 shares of the company’s stock after purchasing an additional 72,253 shares during the quarter. Mitsubishi UFJ Asset Management Co. Ltd. owned 0.09% of Toast worth $20,651,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in the stock. Parkside Financial Bank & Trust lifted its position in Toast by 4.6% in the 2nd quarter. Parkside Financial Bank & Trust now owns 6,921 shares of the company’s stock worth $307,000 after buying an additional 306 shares in the last quarter. Freemont Management S.A. acquired a new position in shares of Toast in the second quarter worth $3,898,000. Aviva PLC raised its holdings in shares of Toast by 27.4% during the second quarter. Aviva PLC now owns 325,113 shares of the company’s stock worth $14,399,000 after acquiring an additional 70,015 shares in the last quarter. Los Angeles Capital Management LLC acquired a new stake in Toast during the second quarter valued at $2,629,000. Finally, Prospera Financial Services Inc acquired a new stake in Toast during the second quarter valued at $361,000. 82.91% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Several research analysts have weighed in on the company. Canaccord Genuity Group upped their target price on Toast from $48.00 to $54.00 and gave the stock a “buy” rating in a research report on Wednesday, August 6th. Deutsche Bank Aktiengesellschaft started coverage on Toast in a report on Thursday, July 17th. They issued a “buy” rating and a $54.00 price objective on the stock. Wells Fargo & Company upgraded shares of Toast to a “strong-buy” rating in a research note on Wednesday, October 22nd. Truist Financial set a $47.00 target price on shares of Toast in a research report on Friday, October 24th. Finally, The Goldman Sachs Group cut their price target on shares of Toast from $51.00 to $41.00 and set a “neutral” rating on the stock in a report on Monday, October 13th. Two research analysts have rated the stock with a Strong Buy rating, twelve have issued a Buy rating and ten have issued a Hold rating to the stock. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $45.64.

Toast Stock Down 1.7%

TOST opened at $37.52 on Wednesday. Toast, Inc. has a 12-month low of $28.12 and a 12-month high of $49.66. The firm has a market capitalization of $19.32 billion, a P/E ratio of 87.26 and a beta of 1.94. The stock’s 50 day moving average price is $38.06 and its two-hundred day moving average price is $41.49.

Toast (NYSE:TOST) last announced its quarterly earnings data on Tuesday, November 4th. The company reported $0.16 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.24 by ($0.08). The company had revenue of $1.63 billion during the quarter, compared to analyst estimates of $1.58 billion. Toast had a return on equity of 15.77% and a net margin of 4.68%.The company’s revenue was up 25.1% on a year-over-year basis. During the same quarter in the previous year, the business posted $0.07 EPS. As a group, analysts anticipate that Toast, Inc. will post 0.39 earnings per share for the current year.

Insider Activity at Toast

In other news, CFO Elena Gomez sold 9,054 shares of the company’s stock in a transaction dated Thursday, October 2nd. The shares were sold at an average price of $35.56, for a total transaction of $321,960.24. Following the completion of the transaction, the chief financial officer owned 149,572 shares of the company’s stock, valued at approximately $5,318,780.32. This represents a 5.71% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, President Stephen Fredette sold 7,550 shares of Toast stock in a transaction dated Thursday, October 2nd. The stock was sold at an average price of $35.56, for a total value of $268,478.00. Following the sale, the president directly owned 898,475 shares in the company, valued at approximately $31,949,771. This trade represents a 0.83% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. In the last 90 days, insiders have sold 62,259 shares of company stock worth $2,299,020. Insiders own 12.14% of the company’s stock.

About Toast

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.