Mirae Asset Global Investments Co. Ltd. Has $1.75 Million Stock Holdings in Toast, Inc. (NYSE:TOST)

Mirae Asset Global Investments Co. Ltd. raised its stake in Toast, Inc. (NYSE:TOST - Free Report) by 1,584.4% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 52,840 shares of the company's stock after acquiring an additional 49,703 shares during the period. Mirae Asset Global Investments Co. Ltd.'s holdings in Toast were worth $1,753,000 as of its most recent SEC filing.

Other hedge funds have also recently bought and sold shares of the company. US Bancorp DE grew its stake in Toast by 5.1% during the fourth quarter. US Bancorp DE now owns 41,765 shares of the company's stock worth $1,522,000 after buying an additional 2,022 shares during the last quarter. Jones Financial Companies Lllp boosted its holdings in shares of Toast by 139.6% in the 4th quarter. Jones Financial Companies Lllp now owns 3,609 shares of the company's stock worth $132,000 after acquiring an additional 2,103 shares in the last quarter. SBI Securities Co. Ltd. acquired a new position in shares of Toast in the 4th quarter worth approximately $35,000. Charles Schwab Investment Management Inc. grew its position in Toast by 5.6% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 2,938,487 shares of the company's stock worth $107,108,000 after acquiring an additional 155,446 shares during the last quarter. Finally, Victory Capital Management Inc. increased its holdings in Toast by 139.3% during the 4th quarter. Victory Capital Management Inc. now owns 118,839 shares of the company's stock valued at $4,332,000 after purchasing an additional 69,176 shares in the last quarter. 82.91% of the stock is currently owned by institutional investors and hedge funds.

Toast Price Performance

TOST traded up $1.04 during trading on Friday, reaching $43.58. The company had a trading volume of 3,304,047 shares, compared to its average volume of 6,725,563. The company has a market cap of $21.70 billion, a P/E ratio of 189.48 and a beta of 2.00. Toast, Inc. has a 12 month low of $22.10 and a 12 month high of $45.56. The business's fifty day moving average price is $41.58 and its 200 day moving average price is $38.33.

Wall Street Analyst Weigh In

A number of equities analysts have commented on the company. Wells Fargo & Company boosted their price objective on Toast from $39.00 to $46.00 and gave the stock an "overweight" rating in a research note on Friday, May 9th. DA Davidson cut their price target on Toast from $42.00 to $40.00 and set a "neutral" rating for the company in a report on Wednesday, April 30th. The Goldman Sachs Group decreased their price objective on shares of Toast from $43.00 to $38.00 and set a "neutral" rating on the stock in a report on Wednesday, April 2nd. Morgan Stanley raised their price objective on shares of Toast from $46.00 to $50.00 and gave the company an "overweight" rating in a research report on Friday, May 9th. Finally, Truist Financial initiated coverage on shares of Toast in a research note on Monday, June 2nd. They issued a "buy" rating and a $48.00 target price for the company. Twelve analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the stock. Based on data from MarketBeat.com, Toast presently has an average rating of "Moderate Buy" and an average price target of $41.21.

Insider Transactions at Toast

In related news, Director Christopher P. Comparato sold 70,000 shares of Toast stock in a transaction that occurred on Wednesday, May 14th. The stock was sold at an average price of $44.74, for a total value of $3,131,800.00. Following the sale, the director owned 187,140 shares of the company's stock, valued at approximately $8,372,643.60. This trade represents a 27.22% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Susan Chapman-Hughes sold 7,500 shares of the company's stock in a transaction that occurred on Friday, June 6th. The stock was sold at an average price of $44.00, for a total value of $330,000.00. Following the transaction, the director directly owned 23,030 shares of the company's stock, valued at approximately $1,013,320. This trade represents a 24.57% decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders sold 468,212 shares of company stock worth $19,551,906. Company insiders own 13.32% of the company's stock.

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.