Resona Asset Management Co. Ltd. Buys Shares of 107,712 Toast, Inc. (NYSE:TOST)

Resona Asset Management Co. Ltd. purchased a new position in shares of Toast, Inc. (NYSE:TOST - Free Report) during the fourth quarter, according to its most recent 13F filing with the SEC. The institutional investor purchased 107,712 shares of the company's stock, valued at approximately $3,940,000.

Other large investors also recently made changes to their positions in the company. Blue Trust Inc. lifted its holdings in shares of Toast by 120.4% during the 4th quarter. Blue Trust Inc. now owns 692 shares of the company's stock worth $25,000 after acquiring an additional 378 shares during the period. Piscataqua Savings Bank bought a new position in Toast in the fourth quarter worth approximately $26,000. Stonebridge Financial Group LLC acquired a new position in shares of Toast during the fourth quarter valued at about $34,000. SBI Securities Co. Ltd. acquired a new stake in shares of Toast in the 4th quarter worth about $35,000. Finally, Wingate Wealth Advisors Inc. bought a new position in Toast in the 4th quarter valued at about $40,000. Institutional investors own 82.91% of the company's stock.

Analyst Ratings Changes

TOST has been the topic of several research analyst reports. Morgan Stanley upped their price objective on Toast from $46.00 to $50.00 and gave the company an "overweight" rating in a research note on Thursday, February 20th. Wells Fargo & Company upgraded shares of Toast from an "underweight" rating to an "overweight" rating and upped their price target for the company from $30.00 to $39.00 in a research report on Thursday. JPMorgan Chase & Co. boosted their price objective on shares of Toast from $36.00 to $42.00 and gave the company a "neutral" rating in a research report on Thursday, February 20th. BNP Paribas set a $37.00 price objective on shares of Toast and gave the company a "neutral" rating in a research report on Wednesday, February 19th. Finally, Royal Bank of Canada raised their price objective on Toast from $40.00 to $45.00 and gave the company a "sector perform" rating in a research report on Thursday, February 20th. Thirteen analysts have rated the stock with a hold rating and ten have issued a buy rating to the company. According to MarketBeat, Toast has an average rating of "Hold" and a consensus price target of $40.27.

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Insider Activity at Toast

In related news, President Stephen Fredette sold 1,068 shares of the business's stock in a transaction that occurred on Tuesday, February 4th. The shares were sold at an average price of $39.63, for a total value of $42,324.84. Following the sale, the president now directly owns 1,644,656 shares in the company, valued at $65,177,717.28. The trade was a 0.06 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, General Counsel Brian R. Elworthy sold 653 shares of the firm's stock in a transaction on Tuesday, February 4th. The stock was sold at an average price of $39.63, for a total value of $25,878.39. Following the completion of the sale, the general counsel now directly owns 209,206 shares of the company's stock, valued at approximately $8,290,833.78. This trade represents a 0.31 % decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 270,770 shares of company stock valued at $9,409,211. Corporate insiders own 13.32% of the company's stock.

Toast Stock Performance

Shares of TOST stock traded up $1.04 on Monday, hitting $35.12. The stock had a trading volume of 1,000,469 shares, compared to its average volume of 6,798,987. The firm has a market capitalization of $17.35 billion, a price-to-earnings ratio of -3,508.49, a P/E/G ratio of 2.16 and a beta of 2.00. Toast, Inc. has a 52-week low of $21.32 and a 52-week high of $44.12. The stock's 50 day moving average is $36.10 and its 200-day moving average is $35.97.

Toast (NYSE:TOST - Get Free Report) last posted its quarterly earnings results on Wednesday, February 19th. The company reported $0.05 EPS for the quarter, missing analysts' consensus estimates of $0.06 by ($0.01). Toast had a return on equity of 1.54% and a net margin of 0.40%. The firm had revenue of $1.34 billion during the quarter, compared to analyst estimates of $1.32 billion. Equities analysts expect that Toast, Inc. will post 0.39 earnings per share for the current year.

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.