Sumitomo Mitsui Trust Group Inc. Has $274.45 Million Position in Toast, Inc. $TOST

Sumitomo Mitsui Trust Group Inc. increased its position in shares of Toast, Inc. (NYSE:TOST) by 35.8% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 7,517,216 shares of the company’s stock after acquiring an additional 1,982,566 shares during the period. Sumitomo Mitsui Trust Group Inc. owned about 1.47% of Toast worth $274,454,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds have also added to or reduced their stakes in the company. RiverPark Advisors LLC bought a new stake in Toast during the second quarter worth $30,000. Alpine Bank Wealth Management acquired a new position in shares of Toast during the 3rd quarter worth $30,000. Ameritas Advisory Services LLC bought a new stake in shares of Toast during the 2nd quarter worth $31,000. REAP Financial Group LLC lifted its position in shares of 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 buying an additional 506 shares during the last quarter. Finally, Loomis Sayles & Co. L P acquired a new stake in Toast in the second quarter valued at about $42,000. 82.91% of the stock is owned by institutional investors.

Analysts Set New Price Targets

TOST has been the subject of a number of research reports. BNP Paribas raised shares of Toast from a “hold” rating to an “outperform” rating and set a $40.00 target price for the company in a report on Monday, December 1st. Wall Street Zen raised shares of Toast from a “hold” rating to a “buy” rating in a research note on Friday, October 3rd. DA Davidson set a $42.00 target price on shares of Toast in a research note on Wednesday, November 5th. Oppenheimer dropped their price target on Toast from $49.00 to $48.00 and set an “outperform” rating for the company in a research note on Monday. Finally, BNP Paribas Exane upgraded Toast from a “neutral” rating to an “outperform” rating and set a $40.00 price objective on the stock in a research report on Monday, December 1st. Two investment analysts have rated the stock with a Strong Buy rating, thirteen have issued a Buy rating and nine have assigned a Hold rating to the company. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average target price of $45.27.

Insider Buying and Selling at Toast

In other Toast news, General Counsel Brian R. Elworthy sold 3,303 shares of the stock in a transaction dated Monday, January 5th. The stock was sold at an average price of $34.38, for a total transaction of $113,557.14. Following the completion of the sale, the general counsel directly owned 235,757 shares in the company, valued at approximately $8,105,325.66. This trade represents a 1.38% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, President Stephen Fredette sold 4,866 shares of Toast stock in a transaction dated Monday, January 5th. The stock was sold at an average price of $34.38, for a total value of $167,293.08. Following the completion of the transaction, the president directly owned 910,606 shares of the company’s stock, valued at approximately $31,306,634.28. This trade represents a 0.53% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. In the last ninety days, insiders have sold 102,595 shares of company stock valued at $3,634,737. 12.14% of the stock is owned by corporate insiders.

Toast Trading Up 2.2%

Shares of TOST stock opened at $36.23 on Tuesday. Toast, Inc. has a 1-year low of $28.12 and a 1-year high of $49.66. The stock has a market cap of $18.66 billion, a price-to-earnings ratio of 84.26 and a beta of 1.93. The stock has a 50-day moving average of $35.50 and a 200-day moving average of $39.56.

Toast (NYSE:TOST) last announced its earnings results on Tuesday, November 4th. The company reported $0.16 EPS for the quarter, missing the consensus estimate of $0.24 by ($0.08). The company had revenue of $1.63 billion during the quarter, compared to the consensus estimate of $1.58 billion. Toast had a net margin of 4.68% and a return on equity of 15.77%. The business’s revenue was up 25.1% on a year-over-year basis. During the same quarter in the previous year, the company earned $0.07 earnings per share. Sell-side analysts forecast that Toast, Inc. will post 0.39 earnings per share for the current year.

Toast Profile

Toast, Inc (NYSE: TOST) is a technology company that builds a cloud-based platform for restaurants and other foodservice businesses. Headquartered in Boston, Massachusetts, Toast offers integrated point-of-sale (POS) systems and a suite of software and hardware designed to streamline front-of-house and back-of-house operations. The company went public in 2021 and has positioned itself as a vertically integrated provider for the restaurant industry.

Toast’s product portfolio includes touchscreen POS terminals and handheld order-and-pay devices, kitchen display systems, and peripherals tailored for high-volume foodservice environments.