Toast, Inc. $TOST Shares Acquired by Asset Management One Co. Ltd.

Asset Management One Co. Ltd. grew its position in Toast, Inc. (NYSE:TOST) by 17.5% during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 168,530 shares of the company’s stock after purchasing an additional 25,052 shares during the period. Asset Management One Co. Ltd.’s holdings in Toast were worth $7,464,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also modified their holdings of the company. Ameritas Advisory Services LLC acquired a new position in shares of Toast in the 2nd quarter valued at about $31,000. Wayfinding Financial LLC acquired a new position in Toast during the 1st quarter worth approximately $34,000. REAP Financial Group LLC lifted its position in Toast by 173.3% during the 2nd quarter. REAP Financial Group LLC now owns 798 shares of the company’s stock worth $35,000 after acquiring an additional 506 shares in the last quarter. SBI Securities Co. Ltd. lifted its position in Toast by 29.2% during the 1st quarter. SBI Securities Co. Ltd. now owns 1,257 shares of the company’s stock worth $42,000 after acquiring an additional 284 shares in the last quarter. Finally, Cullen Frost Bankers Inc. lifted its position in Toast by 1,383.8% during the 2nd quarter. Cullen Frost Bankers Inc. now owns 1,009 shares of the company’s stock worth $45,000 after acquiring an additional 941 shares in the last quarter. 82.91% of the stock is owned by institutional investors and hedge funds.

Insiders Place Their Bets

In other news, CEO Aman Narang sold 13,652 shares of the business’s stock in a transaction that occurred on Thursday, October 2nd. The stock was sold at an average price of $35.56, for a total value of $485,465.12. Following the completion of the sale, the chief executive officer directly owned 318,150 shares in the company, valued at approximately $11,313,414. The trade was a 4.11% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CRO Jonathan Vassil sold 6,530 shares of the business’s stock in a transaction that occurred on Thursday, October 2nd. The shares were sold at an average price of $35.56, for a total value of $232,206.80. Following the completion of the sale, the executive owned 69,932 shares of the company’s stock, valued at $2,486,781.92. This trade represents a 8.54% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 62,196 shares of company stock worth $2,398,513. Corporate insiders own 12.14% of the company’s stock.

Toast Stock Up 1.5%

TOST stock opened at $38.94 on Tuesday. Toast, Inc. has a 52-week low of $28.12 and a 52-week high of $49.66. The stock’s 50 day moving average is $39.63 and its two-hundred day moving average is $41.28. The company has a market capitalization of $19.86 billion, a PE ratio of 114.54 and a beta of 1.94.

Toast (NYSE:TOST) last posted its quarterly earnings data on Tuesday, August 5th. The company reported $0.13 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.23 by ($0.10). Toast had a return on equity of 14.19% and a net margin of 4.07%.The business had revenue of $1.55 billion for the quarter, compared to analysts’ expectations of $1.52 billion. During the same quarter in the prior year, the firm earned $0.02 earnings per share. Toast’s revenue for the quarter was up 24.8% compared to the same quarter last year. As a group, sell-side analysts anticipate that Toast, Inc. will post 0.39 EPS for the current year.

Analyst Upgrades and Downgrades

Several equities analysts recently commented on TOST shares. JPMorgan Chase & Co. boosted their price target on Toast from $42.00 to $52.00 and gave the stock a “neutral” rating in a research report on Wednesday, August 6th. Needham & Company LLC boosted their price target on Toast from $50.00 to $60.00 and gave the stock a “buy” rating in a research report on Wednesday, August 6th. Wall Street Zen raised Toast from a “hold” rating to a “buy” rating in a research report on Friday, October 3rd. Morgan Stanley boosted their price target on Toast from $50.00 to $54.00 and gave the stock an “overweight” rating in a research report on Wednesday, August 6th. Finally, Jefferies Financial Group lifted their price objective on Toast from $50.00 to $54.00 and gave the stock a “buy” rating in a report on Friday, July 18th. Two research analysts have rated the stock with a Strong Buy rating, thirteen have assigned a Buy rating and ten have assigned a Hold rating to the stock. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus price target of $46.17.

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.