Mitsubishi UFJ Trust & Banking Corp Boosts Stock Position in Toast, Inc. (NYSE:TOST)

Mitsubishi UFJ Trust & Banking Corp grew its holdings in Toast, Inc. (NYSE:TOST - Free Report) by 15.1% during the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 185,105 shares of the company's stock after acquiring an additional 24,258 shares during the period. Mitsubishi UFJ Trust & Banking Corp's holdings in Toast were worth $6,747,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds have also recently made changes to their positions in the company. ValueAct Holdings L.P. purchased a new position in Toast during the third quarter valued at $438,301,000. Vanguard Group Inc. grew its position in shares of Toast by 10.8% during the fourth quarter. Vanguard Group Inc. now owns 42,474,232 shares of the company's stock valued at $1,548,186,000 after purchasing an additional 4,147,430 shares in the last quarter. Allspring Global Investments Holdings LLC grew its position in shares of Toast by 129,058.5% during the fourth quarter. Allspring Global Investments Holdings LLC now owns 2,074,286 shares of the company's stock valued at $75,466,000 after purchasing an additional 2,072,680 shares in the last quarter. Perpetual Ltd bought a new stake in shares of Toast in the fourth quarter worth about $60,878,000. Finally, Worldquant Millennium Advisors LLC lifted its position in shares of Toast by 1,475.0% in the third quarter. Worldquant Millennium Advisors LLC now owns 850,965 shares of the company's stock worth $24,091,000 after buying an additional 796,936 shares in the last quarter. Institutional investors own 82.91% of the company's stock.

Toast Trading Down 6.4 %

Shares of NYSE TOST traded down $2.08 during mid-day trading on Friday, reaching $30.58. The company had a trading volume of 10,413,952 shares, compared to its average volume of 6,766,117. Toast, Inc. has a 52 week low of $21.32 and a 52 week high of $44.12. The business's 50-day moving average is $37.16 and its 200-day moving average is $35.67. The stock has a market cap 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 1.99.

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Toast (NYSE:TOST - Get Free Report) last issued its 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 company had revenue of $1.34 billion during the quarter, compared to the consensus estimate of $1.32 billion. As a group, equities research analysts forecast that Toast, Inc. will post 0.39 earnings per share for the current year.

Analyst Ratings Changes

Several equities analysts have weighed in on the company. Morgan Stanley raised their price target on Toast from $46.00 to $50.00 and gave the company an "overweight" rating in a report on Thursday, February 20th. BMO Capital Markets boosted their price target on shares of Toast from $46.00 to $48.00 and gave the stock an "outperform" rating in a research report on Thursday, February 20th. BNP Paribas set a $37.00 price target on shares of Toast and gave the company a "neutral" rating in a research note on Wednesday, February 19th. Royal Bank of Canada lifted their price objective on shares of Toast from $40.00 to $45.00 and gave the stock a "sector perform" rating in a research note on Thursday, February 20th. Finally, JPMorgan Chase & Co. upped their target price 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. One equities research analyst has rated the stock with a sell rating, twelve have given a hold rating and nine have issued a buy rating to the company's stock. Based on data from MarketBeat, the company currently has an average rating of "Hold" and an average target price of $40.38.

Insiders Place Their Bets

In other news, Director Deval L. Patrick sold 34,222 shares of the company's stock in a transaction that occurred on Thursday, March 13th. The shares were sold at an average price of $33.01, for a total value of $1,129,668.22. Following the completion of the sale, the director now owns 13,260 shares of the company's stock, valued at approximately $437,712.60. This represents a 72.07 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, President Stephen Fredette sold 1,068 shares of Toast stock in a transaction that occurred on Tuesday, February 4th. The shares were sold at an average price of $39.63, for a total transaction of $42,324.84. Following the transaction, the president now directly owns 1,644,656 shares in the company, valued at approximately $65,177,717.28. The trade was a 0.06 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 270,770 shares of company stock worth $9,409,211 in the last ninety days. 13.32% of the stock is owned by company insiders.

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.