Mitsubishi UFJ Trust & Banking Corp Has $11.86 Million Stake in Toast, Inc. $TOST

Mitsubishi UFJ Trust & Banking Corp grew its position in shares of Toast, Inc. (NYSE:TOST) by 6.9% in the 4th quarter, Holdings Channel reports. The institutional investor owned 333,999 shares of the company’s stock after acquiring an additional 21,633 shares during the period. Mitsubishi UFJ Trust & Banking Corp’s holdings in Toast were worth $11,860,000 as of its most recent SEC filing.

Several other institutional investors have also made changes to their positions in TOST. Quent Capital LLC acquired a new stake in shares of Toast during the 3rd quarter valued at about $27,000. Alpine Bank Wealth Management acquired a new stake in shares of Toast during the 3rd quarter valued at about $30,000. Central Pacific Bank Trust Division lifted its holdings in shares of Toast by 123.5% during the 4th quarter. Central Pacific Bank Trust Division now owns 943 shares of the company’s stock valued at $33,000 after buying an additional 521 shares during the last quarter. Wolff Wiese Magana LLC acquired a new stake in shares of Toast during the 3rd quarter valued at about $37,000. Finally, Root Financial Partners LLC acquired a new stake in shares of Toast during the 3rd quarter valued at about $42,000. 82.91% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several equities research analysts have recently issued reports on the company. Citigroup reduced their price target on Toast from $51.00 to $42.00 and set a “buy” rating for the company in a report on Friday, February 13th. Loop Capital assumed coverage on Toast in a report on Tuesday, March 31st. They set a “hold” rating and a $26.00 price target for the company. Stephens set a $42.00 price target on Toast in a report on Friday, January 16th. Sanford C. Bernstein set a $39.00 price objective on Toast in a research note on Monday, February 16th. Finally, DA Davidson cut their price objective on Toast from $36.00 to $33.00 and set a “neutral” rating on the stock in a research note on Tuesday, February 17th. One investment analyst has rated the stock with a Strong Buy rating, sixteen have given a Buy rating and eight have assigned a Hold rating to the company. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $39.48.

Toast Stock Performance

Shares of TOST stock opened at $29.15 on Friday. The stock’s 50 day simple moving average is $27.64 and its 200 day simple moving average is $32.02. Toast, Inc. has a twelve month low of $24.35 and a twelve month high of $49.66. The company has a market capitalization of $15.02 billion, a price-to-earnings ratio of 53.98 and a beta of 1.82.

Toast (NYSE:TOST) last issued its quarterly earnings data on Thursday, February 12th. The company reported $0.16 earnings per share for the quarter, missing analysts’ consensus estimates of $0.24 by ($0.08). Toast had a net margin of 5.56% and a return on equity of 18.14%. The company had revenue of $1.63 billion during the quarter, compared to the consensus estimate of $1.62 billion. During the same period in the previous year, the business posted $0.05 earnings per share. The firm’s revenue was up 22.0% on a year-over-year basis. On average, analysts forecast that Toast, Inc. will post 0.81 EPS for the current fiscal year.

Toast announced that its board has initiated a share buyback plan on Thursday, February 12th that allows the company to repurchase $0.00 in outstanding shares. This repurchase authorization allows the company to reacquire shares of its stock through open market purchases. Shares repurchase plans are often a sign that the company’s leadership believes its stock is undervalued.

Insiders Place Their Bets

In related news, President Stephen Fredette sold 7,289 shares of the firm’s stock in a transaction that occurred on Thursday, April 2nd. The stock was sold at an average price of $26.19, for a total value of $190,898.91. Following the transaction, the president directly owned 920,985 shares of the company’s stock, valued at approximately $24,120,597.15. This trade represents a 0.79% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, CFO Elena Gomez sold 8,929 shares of the firm’s stock in a transaction that occurred on Thursday, April 2nd. The shares were sold at an average price of $26.19, for a total value of $233,850.51. Following the completion of the sale, the chief financial officer directly owned 173,064 shares in the company, valued at $4,532,546.16. This trade represents a 4.91% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold 46,030 shares of company stock worth $1,231,451 in the last three months. 12.14% of the stock is owned by insiders.

About Toast

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.