Toast, Inc. (NYSE:TOST) Shares Bought by Sumitomo Mitsui DS Asset Management Company Ltd

Sumitomo Mitsui DS Asset Management Company Ltd increased its stake in Toast, Inc. (NYSE:TOST) by 0.8% in the fourth quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 38,632 shares of the company’s stock after buying an additional 301 shares during the quarter. Sumitomo Mitsui DS Asset Management Company Ltd’s holdings in Toast were worth $1,408,000 as of its most recent filing with the SEC.

Several other hedge funds have also modified their holdings of the stock. Makena Capital Management LLC boosted its position in Toast by 7.6% in the 3rd quarter. Makena Capital Management LLC now owns 274,392 shares of the company’s stock valued at $7,768,000 after buying an additional 19,371 shares during the last quarter. KBC Group NV lifted its stake in shares of Toast by 66.5% in the third quarter. KBC Group NV now owns 42,838 shares of the company’s stock worth $1,213,000 after acquiring an additional 17,106 shares in the last quarter. Geode Capital Management LLC boosted its holdings in Toast by 2.3% in the third quarter. Geode Capital Management LLC now owns 6,865,934 shares of the company’s stock valued at $193,992,000 after purchasing an additional 155,212 shares during the last quarter. MML Investors Services LLC grew its stake in Toast by 40.6% during the 3rd quarter. MML Investors Services LLC now owns 228,313 shares of the company’s stock valued at $6,464,000 after purchasing an additional 65,957 shares in the last quarter. Finally, Qsemble Capital Management LP increased its holdings in Toast by 52.1% during the 3rd quarter. Qsemble Capital Management LP now owns 67,796 shares of the company’s stock worth $1,919,000 after purchasing an additional 23,231 shares during the last quarter. 82.91% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling

In related news, CFO Elena Gomez sold 2,052 shares of the stock in a transaction dated Tuesday, February 4th. The shares were sold at an average price of $39.63, for a total value of $81,320.76. Following the completion of the transaction, the chief financial officer now owns 160,498 shares in the company, valued at $6,360,535.74. This represents a 1.26 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. Also, General Counsel Brian R. Elworthy sold 653 shares of the business’s stock in a transaction dated Tuesday, February 4th. The stock was sold at an average price of $39.63, for a total transaction of $25,878.39. Following the sale, the general counsel now owns 209,206 shares in the company, valued at $8,290,833.78. This trade represents a 0.31 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 362,449 shares of company stock valued at $14,538,099 in the last three months. 13.32% of the stock is currently owned by corporate insiders.

Wall Street Analyst Weigh In

Several research firms have recently commented on TOST. Deutsche Bank Aktiengesellschaft increased their target price on Toast from $24.00 to $30.00 and gave the company a “hold” rating in a research note on Monday, November 4th. BMO Capital Markets initiated coverage on shares of Toast in a report on Monday, January 6th. They set an “outperform” rating and a $45.00 price objective for the company. DA Davidson restated a “neutral” rating and issued a $38.00 target price (down previously from $44.00) on shares of Toast in a research note on Thursday, December 5th. Wells Fargo & Company lifted their price target on Toast from $25.00 to $30.00 and gave the stock an “underweight” rating in a research note on Thursday, January 16th. Finally, Robert W. Baird upped their price objective on Toast from $30.00 to $38.00 and gave the company a “neutral” rating in a research note on Friday, November 8th. One analyst has rated the stock with a sell rating, twelve have given a hold rating and ten have issued a buy rating to the stock. According to data from MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus price target of $36.09.

Toast Trading Down 3.1 %

NYSE TOST opened at $40.12 on Wednesday. The company has a 50-day moving average price of $38.32 and a two-hundred day moving average price of $32.72. The stock has a market cap of $18.90 billion, a price-to-earnings ratio of -308.61, a price-to-earnings-growth ratio of 2.25 and a beta of 1.98. Toast, Inc. has a 52 week low of $18.47 and a 52 week high of $44.12.

Toast 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.