Sumitomo Mitsui Trust Group Inc. Sells 297,400 Shares of Toast, Inc. (NYSE:TOST)

Sumitomo Mitsui Trust Group Inc. decreased its position in Toast, Inc. (NYSE:TOST) by 4.7% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 6,052,705 shares of the company’s stock after selling 297,400 shares during the quarter. Sumitomo Mitsui Trust Group Inc. owned approximately 1.31% of Toast worth $171,352,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds also recently made changes to their positions in TOST. GSA Capital Partners LLP boosted its holdings in Toast by 179.7% during the third quarter. GSA Capital Partners LLP now owns 53,064 shares of the company’s stock worth $1,502,000 after purchasing an additional 34,090 shares during the last quarter. Entropy Technologies LP bought a new position in shares of Toast during the 3rd quarter worth approximately $894,000. Lisanti Capital Growth LLC lifted its holdings in Toast by 43.0% during the third quarter. Lisanti Capital Growth LLC now owns 60,245 shares of the company’s stock valued at $1,706,000 after purchasing an additional 18,125 shares during the last quarter. Kampmann Melissa S. boosted its position in Toast by 28.9% during the third quarter. Kampmann Melissa S. now owns 56,120 shares of the company’s stock worth $1,589,000 after purchasing an additional 12,590 shares during the period. Finally, Lewis Asset Management LLC increased its stake in shares of Toast by 3.7% in the third quarter. Lewis Asset Management LLC now owns 40,679 shares of the company’s stock worth $1,152,000 after purchasing an additional 1,451 shares in the last quarter. Hedge funds and other institutional investors own 82.91% of the company’s stock.

Analyst Ratings Changes

TOST has been the topic of several recent analyst reports. Morgan Stanley raised their price target on Toast from $30.00 to $33.00 and gave the company an “overweight” rating in a report on Tuesday, October 22nd. Robert W. Baird raised their target price on shares of Toast from $30.00 to $38.00 and gave the company a “neutral” rating in a research note on Friday, November 8th. Wells Fargo & Company boosted their price target on shares of Toast from $23.00 to $25.00 and gave the stock an “underweight” rating in a research note on Friday, November 8th. Stephens raised their price objective on shares of Toast from $28.00 to $30.00 and gave the company an “equal weight” rating in a research report on Friday, October 18th. Finally, DA Davidson lifted their price objective on shares of Toast from $35.00 to $44.00 and gave the stock a “buy” rating in a report on Tuesday. One analyst has rated the stock with a sell rating, nine have assigned a hold rating and eleven have assigned a buy rating to the stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus price target of $32.75.

Insider Transactions at Toast

In other Toast news, CRO Jonathan Vassil sold 100,000 shares of the company’s stock in a transaction that occurred on Friday, November 8th. The stock was sold at an average price of $36.55, for a total transaction of $3,655,000.00. Following the completion of the transaction, the executive now owns 39,834 shares of the company’s stock, valued at $1,455,932.70. This represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. In related news, CRO Jonathan Vassil sold 100,000 shares of Toast stock in a transaction on Friday, November 8th. The shares were sold at an average price of $36.55, for a total value of $3,655,000.00. Following the sale, the executive now owns 39,834 shares in the company, valued at $1,455,932.70. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, General Counsel Brian R. Elworthy sold 300,000 shares of Toast stock in a transaction dated Friday, October 18th. The shares were sold at an average price of $30.39, for a total transaction of $9,117,000.00. Following the sale, the general counsel now directly owns 177,836 shares in the company, valued at $5,404,436.04. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 1,475,651 shares of company stock worth $41,805,212. Company insiders own 13.32% of the company’s stock.

Toast Stock Up 3.9 %

Shares of Toast stock opened at $39.42 on Wednesday. The company’s fifty day simple moving average is $28.76 and its two-hundred day simple moving average is $26.22. Toast, Inc. has a 12-month low of $13.77 and a 12-month high of $39.80. The firm has a market cap of $18.57 billion, a PE ratio of -303.23 and a beta of 1.74.

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.