Mitsubishi UFJ Asset Management Co. Ltd. Buys 62,421 Shares of Toast, Inc. (NYSE:TOST)

Mitsubishi UFJ Asset Management Co. Ltd. lifted its stake in shares of Toast, Inc. (NYSE:TOST) by 20.9% in the 4th quarter, HoldingsChannel reports. The firm owned 361,512 shares of the company’s stock after buying an additional 62,421 shares during the quarter. Mitsubishi UFJ Asset Management Co. Ltd.’s holdings in Toast were worth $13,593,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds also recently modified their holdings of the company. ValueAct Holdings L.P. bought a new position in Toast during the third quarter worth about $438,301,000. Vanguard Group Inc. boosted its holdings in Toast by 10.8% in the 4th quarter. Vanguard Group Inc. now owns 42,474,232 shares of the company’s stock worth $1,548,186,000 after buying an additional 4,147,430 shares during the period. Allspring Global Investments Holdings LLC boosted its holdings in Toast by 129,058.5% in the 4th quarter. Allspring Global Investments Holdings LLC now owns 2,074,286 shares of the company’s stock worth $75,466,000 after buying an additional 2,072,680 shares during the period. Perpetual Ltd bought a new stake in Toast during the 4th quarter valued at $60,878,000. Finally, Worldquant Millennium Advisors LLC lifted its position in shares of Toast by 1,475.0% during the third quarter. Worldquant Millennium Advisors LLC now owns 850,965 shares of the company’s stock worth $24,091,000 after acquiring an additional 796,936 shares in the last quarter. Institutional investors own 82.91% of the company’s stock.

Toast Trading Down 1.2 %

Shares of NYSE:TOST opened at $33.18 on Tuesday. The stock has a market capitalization of $16.39 billion, a P/E ratio of -3,314.49, a price-to-earnings-growth ratio of 2.16 and a beta of 1.99. The stock’s 50-day moving average price is $37.63 and its 200-day moving average price is $35.60. Toast, Inc. has a 12-month low of $21.32 and a 12-month high of $44.12.

Toast (NYSE:TOST) last posted its quarterly earnings results on Wednesday, February 19th. The company reported $0.05 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.06 by ($0.01). Toast had a return on equity of 1.54% and a net margin of 0.40%. The company had revenue of $1.34 billion for the quarter, compared to the consensus estimate of $1.32 billion. As a group, research analysts predict that Toast, Inc. will post 0.39 EPS for the current year.

Insider Buying and Selling

In related news, Director Deval L. Patrick sold 34,222 shares of the business’s stock in a transaction dated Thursday, March 13th. The stock was sold at an average price of $33.01, for a total transaction of $1,129,668.22. Following the transaction, the director now owns 13,260 shares in the company, valued at $437,712.60. The trade was a 72.07 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, General Counsel Brian R. Elworthy sold 653 shares of the stock in a transaction that occurred on Tuesday, February 4th. The stock was sold at an average price of $39.63, for a total value of $25,878.39. Following the completion of the sale, the general counsel now owns 209,206 shares of the company’s stock, valued at approximately $8,290,833.78. This trade represents a 0.31 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 270,770 shares of company stock valued at $9,409,211 over the last three months. 13.32% of the stock is owned by company insiders.

Analyst Upgrades and Downgrades

Several brokerages have recently weighed in on TOST. UBS Group lifted their price target on Toast from $41.00 to $47.00 and gave the company a “buy” rating in a research report on Thursday, February 20th. Canaccord Genuity Group upped their price target on Toast from $43.00 to $48.00 and gave the company a “buy” rating in a research report on Thursday, February 20th. BNP Paribas set a $37.00 price target on shares of Toast and gave the stock a “neutral” rating in a report on Wednesday, February 19th. JPMorgan Chase & Co. boosted their price objective on shares of Toast from $36.00 to $42.00 and gave the company a “neutral” rating in a research note on Thursday, February 20th. Finally, DA Davidson reiterated a “neutral” rating and issued a $38.00 target price (down from $44.00) on shares of Toast in a research note on Thursday, December 5th. One research analyst has rated the stock with a sell rating, twelve have given a hold rating and nine have given a buy rating to the company. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average price target of $40.48.

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.