Sumitomo Mitsui Trust Holdings Inc. Increases Stock Position in Toast, Inc. (NYSE:TOST)

Sumitomo Mitsui Trust Holdings Inc. raised its stake in shares of Toast, Inc. (NYSE:TOST) by 4.2% in the first quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 6,880,795 shares of the company’s stock after buying an additional 280,418 shares during the quarter. Sumitomo Mitsui Trust Holdings Inc. owned about 1.57% of Toast worth $171,469,000 at the end of the most recent reporting period.

Other hedge funds also recently bought and sold shares of the company. Park Avenue Securities LLC grew its holdings in shares of Toast by 1.0% during the first quarter. Park Avenue Securities LLC now owns 43,357 shares of the company’s stock worth $1,080,000 after purchasing an additional 436 shares in the last quarter. Envestnet Portfolio Solutions Inc. grew its stake in Toast by 5.9% in the 4th quarter. Envestnet Portfolio Solutions Inc. now owns 13,985 shares of the company’s stock worth $255,000 after buying an additional 774 shares in the last quarter. Treasurer of the State of North Carolina increased its holdings in shares of Toast by 0.5% in the 3rd quarter. Treasurer of the State of North Carolina now owns 155,598 shares of the company’s stock worth $2,914,000 after buying an additional 790 shares during the last quarter. Orion Capital Management LLC raised its position in shares of Toast by 22.5% during the 4th quarter. Orion Capital Management LLC now owns 4,350 shares of the company’s stock valued at $79,000 after buying an additional 800 shares in the last quarter. Finally, M&T Bank Corp lifted its holdings in shares of Toast by 8.0% during the 4th quarter. M&T Bank Corp now owns 11,217 shares of the company’s stock worth $205,000 after acquiring an additional 829 shares during the last quarter. Hedge funds and other institutional investors own 82.91% of the company’s stock.

Toast Price Performance

Shares of TOST traded up $0.22 during midday trading on Wednesday, hitting $26.21. The stock had a trading volume of 502,584 shares, compared to its average volume of 8,060,295. The stock’s 50 day moving average is $24.63 and its 200 day moving average is $22.20. The firm has a market cap of $11.87 billion, a PE ratio of -51.90 and a beta of 1.76. Toast, Inc. has a 1 year low of $13.77 and a 1 year high of $27.90.

Toast (NYSE:TOST) last issued its quarterly earnings results on Tuesday, May 7th. The company reported ($0.15) earnings per share for the quarter, hitting analysts’ consensus estimates of ($0.15). The business had revenue of $1.08 billion for the quarter, compared to analyst estimates of $1.04 billion. Toast had a negative return on equity of 21.45% and a negative net margin of 6.02%. During the same quarter in the previous year, the firm earned ($0.16) earnings per share. The company’s revenue was up 31.3% on a year-over-year basis. As a group, equities research analysts expect that Toast, Inc. will post -0.14 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

A number of research analysts recently commented on TOST shares. UBS Group boosted their price target on Toast from $22.00 to $31.00 and gave the stock a “buy” rating in a report on Thursday, March 28th. Royal Bank of Canada boosted their target price on shares of Toast from $23.00 to $27.00 and gave the stock a “sector perform” rating in a report on Wednesday, May 8th. Needham & Company LLC reaffirmed a “buy” rating and set a $30.00 target price on shares of Toast in a research note on Thursday, May 30th. Keefe, Bruyette & Woods reiterated a “market perform” rating and issued a $26.00 price target on shares of Toast in a research note on Wednesday, May 29th. Finally, Robert W. Baird lowered Toast from an “outperform” rating to a “neutral” rating and set a $28.00 price objective for the company. in a research report on Tuesday, May 21st. One investment analyst has rated the stock with a sell rating, ten have assigned a hold rating and ten have issued a buy rating to the company. According to MarketBeat.com, Toast currently has a consensus rating of “Hold” and a consensus price target of $26.14.

Insiders Place Their Bets

In other news, CRO Jonathan Vassil sold 50,000 shares of the firm’s stock in a transaction that occurred on Monday, April 15th. The shares were sold at an average price of $22.90, for a total transaction of $1,145,000.00. Following the completion of the sale, the executive now owns 25,422 shares in the company, valued at approximately $582,163.80. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. In other news, CRO Jonathan Vassil sold 50,000 shares of the stock in a transaction on Monday, April 15th. The stock was sold at an average price of $22.90, for a total value of $1,145,000.00. Following the sale, the executive now directly owns 25,422 shares in the company, valued at $582,163.80. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, insider James Michael Matlock sold 4,151 shares of the company’s stock in a transaction that occurred on Friday, May 3rd. The stock was sold at an average price of $23.19, for a total transaction of $96,261.69. Following the sale, the insider now owns 46,510 shares in the company, valued at $1,078,566.90. The disclosure for this sale can be found here. Insiders have sold a total of 197,449 shares of company stock valued at $4,817,383 in the last 90 days. 13.32% of the stock is owned by 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.