Sumitomo Mitsui Trust Holdings Inc. Boosts Holdings in Toast, Inc. (NYSE:TOST)

Sumitomo Mitsui Trust Holdings Inc. lifted its position in Toast, Inc. (NYSE:TOST - Free Report) by 69.6% in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 6,600,377 shares of the company's stock after purchasing an additional 2,708,597 shares during the period. Sumitomo Mitsui Trust Holdings Inc. owned about 1.55% of Toast worth $120,523,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds and other institutional investors have also recently modified their holdings of the company. Baystate Wealth Management LLC purchased a new position in Toast during the third quarter valued at $29,000. BluePath Capital Management LLC purchased a new position in shares of Toast in the 3rd quarter worth $30,000. PNC Financial Services Group Inc. grew its stake in shares of Toast by 277.5% in the 4th quarter. PNC Financial Services Group Inc. now owns 1,710 shares of the company's stock worth $31,000 after buying an additional 1,257 shares in the last quarter. SRS Capital Advisors Inc. purchased a new position in shares of Toast in the 3rd quarter worth $33,000. Finally, Larson Financial Group LLC grew its stake in shares of Toast by 8,181.8% in the 3rd quarter. Larson Financial Group LLC now owns 1,822 shares of the company's stock worth $34,000 after buying an additional 1,800 shares in the last quarter. 82.91% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several research firms have recently issued reports on TOST. Piper Sandler raised their target price on shares of Toast from $18.00 to $20.00 and gave the stock a "neutral" rating in a report on Friday, February 16th. Evercore ISI began coverage on shares of Toast in a report on Monday, March 4th. They set an "outperform" rating and a $32.00 price objective for the company. Mizuho reiterated a "neutral" rating and set a $17.00 price objective on shares of Toast in a report on Wednesday, March 27th. Robert W. Baird lifted their price objective on shares of Toast from $24.00 to $28.00 and gave the company an "outperform" rating in a report on Monday. Finally, Royal Bank of Canada reiterated a "sector perform" rating and set a $23.00 price objective on shares of Toast in a report on Thursday, April 11th. One equities research analyst has rated the stock with a sell rating, eight have issued a hold rating and nine have issued a buy rating to the company. According to MarketBeat.com, the company presently has a consensus rating of "Hold" and a consensus target price of $24.32.

Insider Activity at Toast

In related news, CRO Jonathan Vassil sold 100,000 shares of the company's stock in a transaction dated Wednesday, March 13th. The shares were sold at an average price of $25.24, for a total value of $2,524,000.00. Following the completion of the sale, the executive now owns 22,956 shares of the company's stock, valued at $579,409.44. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. In other Toast news, CEO Aman Narang sold 2,471 shares of the stock in a transaction dated Tuesday, April 2nd. The shares were sold at an average price of $23.40, for a total transaction of $57,821.40. Following the completion of the transaction, the chief executive officer now owns 1,114,454 shares of the company's stock, valued at $26,078,223.60. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, CRO Jonathan Vassil sold 100,000 shares of the stock in a transaction dated Wednesday, March 13th. The stock was sold at an average price of $25.24, for a total transaction of $2,524,000.00. Following the transaction, the executive now directly owns 22,956 shares of the company's stock, valued at approximately $579,409.44. The disclosure for this sale can be found here. Insiders sold a total of 363,688 shares of company stock worth $7,499,141 in the last three months. Company insiders own 13.70% of the company's stock.

Toast Trading Down 0.3 %

NYSE TOST traded down $0.07 on Tuesday, hitting $22.43. 3,918,607 shares of the company's stock traded hands, compared to its average volume of 8,368,294. Toast, Inc. has a 1-year low of $13.77 and a 1-year high of $27.00. The firm's 50-day moving average price is $22.89 and its two-hundred day moving average price is $18.96. The firm has a market capitalization of $9.80 billion, a PE ratio of -43.98 and a beta of 1.79.

Toast (NYSE:TOST - Get Free Report) last posted its earnings results on Thursday, February 15th. The company reported ($0.07) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.11) by $0.04. Toast had a negative net margin of 6.36% and a negative return on equity of 21.77%. The firm had revenue of $1.04 billion during the quarter, compared to analysts' expectations of $1.02 billion. During the same period in the previous year, the business posted ($0.19) EPS. The business's revenue was up 34.7% compared to the same quarter last year. On average, research analysts anticipate that Toast, Inc. will post -0.22 earnings per share for the current fiscal year.

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.