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 Toast, Inc. (NYSE:TOST) by 20.9% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 361,512 shares of the company’s stock after acquiring 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 quarter.

Several other institutional investors have also recently bought and sold shares of the business. Vanguard Group Inc. increased its holdings 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 worth $1,548,186,000 after buying an additional 4,147,430 shares in the last quarter. ValueAct Holdings L.P. acquired a new position in shares of Toast during the third quarter worth $438,301,000. State Street Corp lifted its holdings in shares of Toast by 2.5% during the third quarter. State Street Corp now owns 8,325,292 shares of the company’s stock worth $235,689,000 after purchasing an additional 206,789 shares during the period. Geode Capital Management LLC grew its stake in shares of Toast by 2.3% in the third quarter. Geode Capital Management LLC now owns 6,865,934 shares of the company’s stock worth $193,992,000 after purchasing an additional 155,212 shares during the last quarter. Finally, Charles Schwab Investment Management Inc. increased its holdings in Toast by 5.6% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 2,938,487 shares of the company’s stock valued at $107,108,000 after purchasing an additional 155,446 shares during the period. Institutional investors and hedge funds own 82.91% of the company’s stock.

Toast Stock Performance

Shares of NYSE TOST opened at $33.18 on Tuesday. The stock has a market cap of $16.39 billion, a price-to-earnings ratio of -3,314.49, a PEG ratio of 2.16 and a beta of 1.99. Toast, Inc. has a fifty-two week low of $21.32 and a fifty-two week high of $44.12. The firm’s 50-day simple moving average is $37.63 and its 200 day simple moving average is $35.60.

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

Analyst Ratings Changes

A number of equities research analysts have commented on TOST shares. Keefe, Bruyette & Woods upped their price target on Toast from $40.00 to $42.00 and gave the company a “market perform” rating in a research report on Thursday, February 20th. 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. 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. Oppenheimer started coverage on shares of Toast in a research report on Friday, January 24th. They set an “outperform” rating and a $46.00 price objective for the company. Finally, Canaccord Genuity Group boosted their target price on shares of Toast from $43.00 to $48.00 and gave the company a “buy” rating in a report on Thursday, February 20th. One equities research analyst has rated the stock with a sell rating, twelve have assigned a hold rating and nine have given a buy rating to the company. According to MarketBeat, the stock has an average rating of “Hold” and a consensus target price of $40.48.

Insiders Place Their Bets

In other Toast news, 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 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 transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Christopher P. Comparato sold 70,000 shares of the company’s stock in a transaction that occurred on Thursday, March 20th. The shares were sold at an average price of $35.71, for a total value of $2,499,700.00. Following the completion of the transaction, the director now directly owns 164,796 shares of the company’s stock, valued at approximately $5,884,865.16. This represents a 29.81 % 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 valued at $9,409,211 in the last three months. 13.32% of the stock is currently owned by 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.