Daiwa Securities Group Inc. Raises Position in Toast, Inc. (NYSE:TOST)

Daiwa Securities Group Inc. grew its position in Toast, Inc. (NYSE:TOST) by 16.3% in the 3rd quarter, according to its most recent disclosure with the SEC. The fund owned 56,972 shares of the company’s stock after buying an additional 8,000 shares during the period. Daiwa Securities Group Inc.’s holdings in Toast were worth $1,613,000 as of its most recent SEC filing.

Several other large investors have also bought and sold shares of the company. Advisors Asset Management Inc. raised its holdings in shares of Toast by 38.2% during the first quarter. Advisors Asset Management Inc. now owns 4,086 shares of the company’s stock valued at $102,000 after purchasing an additional 1,130 shares during the last quarter. Tidal Investments LLC purchased a new position in shares of Toast during the first quarter valued at approximately $244,000. Comerica Bank raised its holdings in shares of Toast by 10.9% during the first quarter. Comerica Bank now owns 6,167 shares of the company’s stock valued at $154,000 after purchasing an additional 607 shares during the last quarter. LRI Investments LLC purchased a new position in shares of Toast during the first quarter valued at approximately $27,000. Finally, DekaBank Deutsche Girozentrale raised its holdings in shares of Toast by 33.4% during the first quarter. DekaBank Deutsche Girozentrale now owns 36,483 shares of the company’s stock valued at $880,000 after purchasing an additional 9,140 shares during the last quarter. 82.91% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several research analysts have recently weighed in on TOST shares. Needham & Company LLC reissued a “buy” rating and set a $30.00 price objective on shares of Toast in a report on Wednesday, August 7th. Wedbush boosted their price objective on shares of Toast from $35.00 to $45.00 and gave the company an “outperform” rating in a report on Friday, November 8th. Royal Bank of Canada boosted their target price on shares of Toast from $27.00 to $40.00 and gave the company a “sector perform” rating in a research report on Friday, November 8th. JPMorgan Chase & Co. increased their price target on shares of Toast from $28.00 to $36.00 and gave the stock a “neutral” rating in a research report on Friday, November 8th. Finally, Compass Point assumed coverage on shares of Toast in a research report on Wednesday, November 20th. They issued a “buy” rating and a $49.00 price target on the stock. One equities research analyst has rated the stock with a sell rating, ten have given a hold rating and eleven have given a buy rating to the stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus price target of $33.86.

Toast Price Performance

Shares of NYSE TOST opened at $43.18 on Friday. The firm has a fifty day moving average price of $32.45 and a 200-day moving average price of $27.54. The stock has a market cap of $20.34 billion, a PE ratio of -332.15, a price-to-earnings-growth ratio of 54.80 and a beta of 1.74. Toast, Inc. has a 1 year low of $14.00 and a 1 year high of $44.12.

Insider Activity at Toast

In other news, CEO Aman Narang sold 10,106 shares of the firm’s stock in a transaction dated Wednesday, October 2nd. The shares were sold at an average price of $27.77, for a total value of $280,643.62. Following the completion of the sale, the chief executive officer now owns 968,095 shares in the company, valued at approximately $26,883,998.15. This trade represents a 1.03 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director David Yuan sold 189,785 shares of the firm’s stock in a transaction dated Monday, November 25th. The stock was sold at an average price of $43.01, for a total transaction of $8,162,652.85. Following the completion of the sale, the director now owns 198,829 shares of the company’s stock, valued at $8,551,635.29. This trade represents a 48.84 % decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 1,688,321 shares of company stock valued at $52,160,120. Corporate insiders own 13.32% of the company’s stock.

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.