Mitsubishi UFJ Asset Management Co. Ltd. Acquires 62,421 Shares of Toast, Inc. (NYSE:TOST)

Mitsubishi UFJ Asset Management Co. Ltd. raised its holdings in shares of Toast, Inc. (NYSE:TOST - Free Report) by 20.9% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 361,512 shares of the company's stock after buying an additional 62,421 shares during the period. Mitsubishi UFJ Asset Management Co. Ltd. owned about 0.08% of Toast worth $13,593,000 at the end of the most recent reporting period.

Other hedge funds also recently bought and sold shares of the company. Blue Trust Inc. boosted its holdings in Toast by 120.4% in the fourth quarter. Blue Trust Inc. now owns 692 shares of the company's stock worth $25,000 after acquiring an additional 378 shares in the last quarter. Piscataqua Savings Bank acquired a new stake in Toast during the fourth quarter valued at $26,000. Stonebridge Financial Group LLC purchased a new stake in shares of Toast in the fourth quarter valued at approximately $34,000. SBI Securities Co. Ltd. acquired a new position in Toast during the fourth quarter worth $35,000. Finally, Wingate Wealth Advisors Inc. acquired a new position in shares of Toast during the fourth quarter valued at approximately $40,000. Institutional investors own 82.91% of the company's stock.

Toast Stock Down 6.4 %

TOST stock traded down $2.08 during midday trading on Friday, hitting $30.58. 10,413,952 shares of the company traded hands, compared to its average volume of 6,769,749. The stock has a market capitalization of $15.10 billion, a price-to-earnings ratio of -3,054.55, a price-to-earnings-growth ratio of 2.16 and a beta of 2.00. Toast, Inc. has a twelve month low of $21.32 and a twelve month high of $44.12. The business has a 50 day simple moving average of $37.16 and a 200-day simple moving average of $35.67.

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

Analyst Ratings Changes

A number of equities analysts recently commented on the company. The Goldman Sachs Group lowered their price objective on Toast from $43.00 to $38.00 and set a "neutral" rating on the stock in a research note on Wednesday. Canaccord Genuity Group increased their price target on shares of Toast from $43.00 to $48.00 and gave the stock a "buy" rating in a research report on Thursday, February 20th. JPMorgan Chase & Co. upped their target price on shares of Toast from $36.00 to $42.00 and gave the stock a "neutral" rating in a research note on Thursday, February 20th. Royal Bank of Canada lifted their price target on Toast from $40.00 to $45.00 and gave the stock a "sector perform" rating in a report on Thursday, February 20th. Finally, UBS Group increased their target price on shares of Toast from $41.00 to $47.00 and gave the company a "buy" rating in a research report on Thursday, February 20th. One investment analyst has rated the stock with a sell rating, twelve have issued a hold rating and nine have assigned a buy rating to the stock. According to MarketBeat, the company currently has an average rating of "Hold" and an average target price of $40.38.

Insider Transactions at Toast

In related news, President Stephen Fredette sold 1,068 shares of the business's stock in a transaction 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 of the company's stock, valued at approximately $65,177,717.28. The trade was a 0.06 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, General Counsel Brian R. Elworthy sold 653 shares of the firm's stock in a transaction that occurred on Tuesday, February 4th. The stock was sold at an average price of $39.63, for a total transaction of $25,878.39. Following the transaction, the general counsel now directly owns 209,206 shares of the company's stock, valued at $8,290,833.78. This represents a 0.31 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 270,770 shares of company stock worth $9,409,211. 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.