Mitsubishi UFJ Asset Management Co. Ltd. Purchases 32,495 Shares of Toast, Inc. (NYSE:TOST)

Key Points

• Mitsubishi UFJ Asset Management Co. Ltd. increased its holdings in Toast, Inc. by 9.0%, owning 394,007 shares valued at approximately $13.07 million as of the end of the first quarter.
• CEO Aman Narang sold 1,719 shares of Toast stock, which reflects a decrease in his ownership, while insiders sold a total of 474,054 shares worth over $20 million in the last ninety days.
• Toast recently reported revenues of $1.55 billion for the quarter, which exceeded expectations, although it missed earnings per share estimates by $0.10.

Mitsubishi UFJ Asset Management Co. Ltd. grew its position in shares of Toast, Inc. (NYSE:TOST - Free Report) by 9.0% during the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 394,007 shares of the company's stock after purchasing an additional 32,495 shares during the quarter. Mitsubishi UFJ Asset Management Co. Ltd. owned approximately 0.08% of Toast worth $13,069,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also bought and sold shares of the business. Wayfinding Financial LLC bought a new position in shares of Toast during the first quarter valued at about $34,000. Piscataqua Savings Bank grew its position in Toast by 57.1% during the 1st quarter. Piscataqua Savings Bank now owns 1,100 shares of the company's stock worth $36,000 after acquiring an additional 400 shares during the last quarter. West Branch Capital LLC grew its position in Toast by 862.1% during the 1st quarter. West Branch Capital LLC now owns 1,116 shares of the company's stock worth $37,000 after acquiring an additional 1,000 shares during the last quarter. SBI Securities Co. Ltd. grew its position in Toast by 29.2% during the 1st quarter. SBI Securities Co. Ltd. now owns 1,257 shares of the company's stock worth $42,000 after acquiring an additional 284 shares during the last quarter. Finally, Signaturefd LLC grew its holdings in shares of Toast by 227.1% in the first quarter. Signaturefd LLC now owns 1,472 shares of the company's stock worth $49,000 after purchasing an additional 1,022 shares during the last quarter. 82.91% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

Several brokerages have recently issued reports on TOST. Keefe, Bruyette & Woods raised their target price on shares of Toast from $47.00 to $50.00 and gave the stock a "market perform" rating in a report on Wednesday, August 6th. Canaccord Genuity Group raised their price target on shares of Toast from $48.00 to $54.00 and gave the stock a "buy" rating in a report on Wednesday, August 6th. Citigroup reissued a "buy" rating on shares of Toast in a report on Wednesday, July 16th. JPMorgan Chase & Co. raised their target price on Toast from $42.00 to $52.00 and gave the stock a "neutral" rating in a research note on Wednesday, August 6th. Finally, BMO Capital Markets raised their target price on Toast from $44.00 to $45.00 and gave the stock an "outperform" rating in a research note on Monday, May 12th. Eleven analysts have rated the stock with a hold rating and sixteen have given a buy rating to the stock. According to MarketBeat, Toast currently has a consensus rating of "Moderate Buy" and a consensus target price of $45.54.

Insider Transactions at Toast

In other news, General Counsel Brian R. Elworthy sold 1,051 shares of the business's stock in a transaction that occurred on Monday, August 4th. The stock was sold at an average price of $48.38, for a total value of $50,847.38. Following the sale, the general counsel directly owned 222,868 shares of the company's stock, valued at $10,782,353.84. The trade was a 0.47% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, CFO Elena Gomez sold 2,006 shares of the business's stock in a transaction that occurred on Monday, August 4th. The stock was sold at an average price of $48.38, for a total value of $97,050.28. Following the completion of the sale, the chief financial officer directly owned 141,263 shares in the company, valued at approximately $6,834,303.94. This represents a 1.40% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 404,054 shares of company stock worth $17,300,366. Company insiders own 12.14% of the company's stock.

Toast Stock Up 0.6%

Shares of TOST stock traded up $0.26 during mid-day trading on Wednesday, reaching $44.33. 10,589,765 shares of the company's stock traded hands, compared to its average volume of 9,312,319. Toast, Inc. has a 12 month low of $22.91 and a 12 month high of $49.66. The company has a market cap of $22.61 billion, a P/E ratio of 130.38 and a beta of 2.01. The company's 50-day moving average price is $44.79 and its 200-day moving average price is $40.07.

Toast (NYSE:TOST - Get Free Report) last posted its quarterly earnings data on Tuesday, August 5th. The company reported $0.13 EPS for the quarter, missing the consensus estimate of $0.23 by ($0.10). Toast had a return on equity of 14.19% and a net margin of 4.07%. The business had revenue of $1.55 billion for the quarter, compared to the consensus estimate of $1.52 billion. During the same period in the previous year, the firm earned $0.02 EPS. The company's revenue was up 24.8% on a year-over-year basis. Equities analysts predict that Toast, Inc. will post 0.39 earnings per share for the current year.

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.