Sumitomo Mitsui Trust Group Inc. Acquires 160,088 Shares of Toast, Inc. (NYSE:TOST)

Sumitomo Mitsui Trust Group Inc. grew its position in shares of Toast, Inc. (NYSE:TOST - Free Report) by 2.9% during the first quarter, according to its most recent filing with the SEC. The firm owned 5,755,872 shares of the company's stock after acquiring an additional 160,088 shares during the period. Sumitomo Mitsui Trust Group Inc. owned about 1.17% of Toast worth $190,922,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently made changes to their positions in the company. Charles Schwab Investment Management Inc. grew its stake in shares of Toast by 5.6% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 2,938,487 shares of the company's stock worth $107,108,000 after buying an additional 155,446 shares during the last quarter. Procyon Advisors LLC purchased a new stake in shares of Toast in the 1st quarter worth approximately $242,000. Wealth Enhancement Advisory Services LLC grew its stake in shares of Toast by 19.5% in the 4th quarter. Wealth Enhancement Advisory Services LLC now owns 22,751 shares of the company's stock worth $829,000 after buying an additional 3,713 shares during the last quarter. Jupiter Asset Management Ltd. grew its stake in shares of Toast by 134.3% in the 4th quarter. Jupiter Asset Management Ltd. now owns 392,853 shares of the company's stock worth $14,319,000 after buying an additional 225,215 shares during the last quarter. Finally, Yorktown Management & Research Co Inc purchased a new stake in shares of Toast in the 1st quarter worth approximately $252,000. Hedge funds and other institutional investors own 82.91% of the company's stock.

Analysts Set New Price Targets

Several analysts recently weighed in on TOST shares. BMO Capital Markets upped their price target on Toast from $44.00 to $45.00 and gave the stock an "outperform" rating in a research note on Monday, May 12th. Wolfe Research upgraded Toast from a "peer perform" rating to an "outperform" rating and set a $44.00 price target on the stock in a research note on Wednesday, April 23rd. Evercore ISI started coverage on Toast in a research note on Wednesday, April 9th. They issued an "in-line" rating and a $29.00 price target on the stock. The Goldman Sachs Group cut their price target on Toast from $43.00 to $38.00 and set a "neutral" rating on the stock in a research note on Wednesday, April 2nd. Finally, Wells Fargo & Company increased their target price on Toast from $39.00 to $46.00 and gave the company an "overweight" rating in a research note on Friday, May 9th. Twelve analysts have rated the stock with a hold rating and thirteen have given a buy rating to the stock. According to MarketBeat, Toast presently has a consensus rating of "Moderate Buy" and a consensus price target of $41.21.

Toast Stock Performance

Shares of TOST stock traded up $1.40 on Friday, reaching $43.89. The stock had a trading volume of 10,659,577 shares, compared to its average volume of 6,709,311. The stock has a market cap of $21.86 billion, a P/E ratio of 190.84 and a beta of 2.02. Toast, Inc. has a 1 year low of $22.10 and a 1 year high of $45.56. The company has a 50 day simple moving average of $40.87 and a 200 day simple moving average of $38.20.

Insider Transactions at Toast

In related news, Director Richard Kent Bennett sold 9,712 shares of Toast stock in a transaction on Tuesday, June 10th. The stock was sold at an average price of $43.14, for a total transaction of $418,975.68. Following the transaction, the director now directly owns 534,167 shares in the company, valued at approximately $23,043,964.38. The trade was a 1.79% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Susan Chapman-Hughes sold 7,500 shares of Toast stock in a transaction on Friday, June 6th. The shares were sold at an average price of $44.00, for a total value of $330,000.00. Following the transaction, the director now owns 23,030 shares in the company, valued at $1,013,320. This trade represents a 24.57% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 468,212 shares of company stock worth $19,551,906 in the last ninety days. Insiders own 13.32% 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.