Sumitomo Mitsui Trust Group Inc. Sells 456,921 Shares of Toast, Inc. (NYSE:TOST)

Sumitomo Mitsui Trust Group Inc. lowered its holdings in Toast, Inc. (NYSE:TOST) by 7.5% in the fourth quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 5,595,784 shares of the company’s stock after selling 456,921 shares during the period. Sumitomo Mitsui Trust Group Inc. owned approximately 1.19% of Toast worth $203,966,000 at the end of the most recent quarter.

A number of other institutional investors have also recently bought and sold shares of the business. ValueAct Holdings L.P. acquired a new position in shares of Toast in the 3rd quarter valued at approximately $438,301,000. FMR LLC increased its position in Toast by 50.5% during the 3rd quarter. FMR LLC now owns 24,449,743 shares of the company’s stock worth $692,172,000 after purchasing an additional 8,205,053 shares in the last quarter. Assenagon Asset Management S.A. increased its position in Toast by 2,889.8% during the 3rd quarter. Assenagon Asset Management S.A. now owns 3,829,995 shares of the company’s stock worth $108,427,000 after purchasing an additional 3,701,893 shares in the last quarter. Perpetual Ltd acquired a new position in Toast during the 4th quarter worth approximately $60,878,000. Finally, Worldquant Millennium Advisors LLC increased its position in Toast by 1,475.0% during the 3rd quarter. Worldquant Millennium Advisors LLC now owns 850,965 shares of the company’s stock worth $24,091,000 after purchasing an additional 796,936 shares in the last quarter. Institutional investors own 82.91% of the company’s stock.

Analysts Set New Price Targets

A number of equities analysts recently issued reports on TOST shares. Keefe, Bruyette & Woods upped their price objective on shares of Toast from $29.00 to $40.00 and gave the stock a “market perform” rating in a research report on Monday, December 9th. JPMorgan Chase & Co. upped their price target on shares of Toast from $28.00 to $36.00 and gave the company a “neutral” rating in a research report on Friday, November 8th. Wells Fargo & Company upped their price target on shares of Toast from $25.00 to $30.00 and gave the company an “underweight” rating in a research report on Thursday, January 16th. Royal Bank of Canada upped their price target on shares of Toast from $27.00 to $40.00 and gave the company a “sector perform” rating in a research report on Friday, November 8th. Finally, Piper Sandler upped their price target on shares of Toast from $25.00 to $35.00 and gave the company a “neutral” rating in a research report on Monday, November 11th. One investment analyst has rated the stock with a sell rating, twelve have assigned a hold rating and ten have given a buy rating to the company. According to data from MarketBeat.com, the company presently has an average rating of “Hold” and an average price target of $36.09.

Insider Activity

In other Toast news, CRO Jonathan Vassil sold 1,006 shares of the company’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 value of $39,867.78. Following the completion of the transaction, the executive now directly owns 48,488 shares in the company, valued at $1,921,579.44. This represents a 2.03 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, Director Richard Kent Bennett sold 100,000 shares of the stock in a transaction that occurred on Tuesday, November 12th. The shares were sold at an average price of $36.67, for a total value of $3,667,000.00. Following the transaction, the director now owns 418,591 shares of the company’s stock, valued at $15,349,731.97. This represents a 19.28 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 462,449 shares of company stock worth $18,205,099. Corporate insiders own 13.32% of the company’s stock.

Toast Trading Down 1.8 %

Shares of Toast stock opened at $41.21 on Friday. The company’s fifty day simple moving average is $38.43 and its two-hundred day simple moving average is $32.31. The company has a market cap of $19.41 billion, a P/E ratio of -316.96, a PEG ratio of 2.18 and a beta of 1.98. Toast, Inc. has a 12-month low of $18.47 and a 12-month high of $44.12.

Toast (NYSE:TOST) last announced its earnings results on Thursday, November 7th. The company reported $0.07 EPS for the quarter, beating analysts’ consensus estimates of $0.01 by $0.06. Toast had a negative net margin of 1.05% and a negative return on equity of 3.84%. The firm had revenue of $1.31 billion for the quarter, compared to analysts’ expectations of $1.29 billion. During the same quarter in the previous year, the business posted ($0.09) EPS. Analysts predict that Toast, Inc. will post 0.03 EPS for the current fiscal 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.