Nikko Asset Management Americas Inc. Sells 543,132 Shares of Toast, Inc. (NYSE:TOST)

Nikko Asset Management Americas Inc. cut its stake in shares of Toast, Inc. (NYSE:TOST - Free Report) by 10.1% during the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 4,846,921 shares of the company's stock after selling 543,132 shares during the quarter. Toast makes up about 1.9% of Nikko Asset Management Americas Inc.'s portfolio, making the stock its 13th largest position. Nikko Asset Management Americas Inc. owned approximately 1.03% of Toast worth $176,670,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other large investors have also bought and sold shares of the stock. Blue Trust Inc. boosted its position 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 purchasing an additional 378 shares in the last quarter. Piscataqua Savings Bank bought a new position in Toast in the fourth quarter worth approximately $26,000. Stonebridge Financial Group LLC acquired a new stake in Toast in the fourth quarter valued at approximately $34,000. SBI Securities Co. Ltd. bought a new stake in shares of Toast during the fourth quarter valued at approximately $35,000. Finally, Wingate Wealth Advisors Inc. bought a new stake in shares of Toast during the fourth quarter valued at approximately $40,000. 82.91% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several analysts recently issued reports on the stock. Morgan Stanley lifted their price target on shares of Toast from $46.00 to $50.00 and gave the company an "overweight" rating in a research report on Thursday, February 20th. Keefe, Bruyette & Woods boosted their target price on shares of Toast from $40.00 to $42.00 and gave the stock a "market perform" rating in a research report on Thursday, February 20th. Royal Bank of Canada upped their target price on shares of Toast from $40.00 to $45.00 and gave the stock a "sector perform" rating in a report on Thursday, February 20th. Oppenheimer started coverage on Toast in a research note on Friday, January 24th. They set an "outperform" rating and a $46.00 price target for the company. Finally, JPMorgan Chase & Co. lifted their target price on Toast from $36.00 to $42.00 and gave the company a "neutral" rating in a research report on Thursday, February 20th. One 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. According to MarketBeat.com, the company currently has an average rating of "Hold" and an average target price of $40.48.

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Toast Price Performance

Shares of TOST traded down $0.68 during trading hours on Friday, hitting $35.20. The company's stock had a trading volume of 6,987,316 shares, compared to its average volume of 6,500,789. The business has a 50 day simple moving average of $37.83 and a two-hundred day simple moving average of $34.92. Toast, Inc. has a 52-week low of $21.32 and a 52-week high of $44.12. The company has a market cap of $17.39 billion, a price-to-earnings ratio of -3,516.78, a PEG ratio of 2.16 and a beta of 1.99.

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

Insider Buying and Selling at Toast

In other Toast news, President Stephen Fredette sold 1,068 shares of the firm'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 completion of the transaction, the president now directly owns 1,644,656 shares of the company's stock, valued at $65,177,717.28. This trade represents a 0.06 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, General Counsel Brian R. Elworthy sold 653 shares of the company's stock in a transaction 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 completion of the transaction, the general counsel now directly owns 209,206 shares in the company, valued at approximately $8,290,833.78. The trade was a 0.31 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 156,714 shares of company stock valued at $5,360,943 in the last quarter. 13.32% of the stock is currently owned by corporate insiders.

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.