Nissay Asset Management Corp Japan ADV Has $1.76 Million Stock Holdings in Toast, Inc. (NYSE:TOST)

Nissay Asset Management Corp Japan ADV raised its stake in shares of Toast, Inc. (NYSE:TOST) by 6.6% in the fourth quarter, Holdings Channel.com reports. The firm owned 46,985 shares of the company’s stock after buying an additional 2,926 shares during the period. Nissay Asset Management Corp Japan ADV’s holdings in Toast were worth $1,762,000 as of its most recent SEC filing.

Other hedge funds have also added to or reduced their stakes in the company. Blue Trust Inc. boosted its stake in Toast by 120.4% during the 4th quarter. Blue Trust Inc. now owns 692 shares of the company’s stock valued at $25,000 after purchasing an additional 378 shares during the last quarter. Piscataqua Savings Bank acquired a new position in Toast during the 4th quarter valued at about $26,000. Stonebridge Financial Group LLC acquired a new position in Toast during the 4th quarter valued at about $34,000. SBI Securities Co. Ltd. acquired a new position in Toast during the 4th quarter valued at about $35,000. Finally, Wingate Wealth Advisors Inc. acquired a new position in Toast during the 4th quarter valued at about $40,000. Institutional investors and hedge funds own 82.91% of the company’s stock.

Toast Stock Performance

Toast stock opened at $44.69 on Friday. The stock has a market cap of $22.25 billion, a P/E ratio of -4,464.04, a PEG ratio of 2.16 and a beta of 1.98. Toast, Inc. has a fifty-two week low of $21.32 and a fifty-two week high of $45.56. The firm’s fifty day moving average price is $35.55 and its 200-day moving average price is $37.36.

Toast (NYSE:TOST) last released its quarterly earnings results on Wednesday, February 19th. The company reported $0.05 earnings per share 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 firm had revenue of $1.34 billion during the quarter, compared to the consensus estimate of $1.32 billion. Sell-side analysts predict that Toast, Inc. will post 0.39 earnings per share for the current year.

Insider Buying and Selling

In other Toast news, Director Deval L. Patrick sold 34,222 shares of the company’s stock in a transaction dated Thursday, March 13th. The shares were sold at an average price of $33.01, for a total transaction of $1,129,668.22. Following the completion of the sale, the director now directly owns 13,260 shares in the company, valued at $437,712.60. This represents a 72.07% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. Also, President Stephen Fredette sold 70,340 shares of the company’s stock in a transaction dated Friday, March 7th. The shares were sold at an average price of $33.87, for a total transaction of $2,382,415.80. Following the sale, the president now owns 1,574,316 shares of the company’s stock, valued at approximately $53,322,082.92. The trade was a 4.28% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 416,991 shares of company stock worth $15,242,750. Corporate insiders own 13.32% of the company’s stock.

Analysts Set New Price Targets

A number of equities analysts have issued reports on TOST shares. Morgan Stanley lifted their price target on Toast from $46.00 to $50.00 and gave the company an “overweight” rating in a research note on Friday, May 9th. JPMorgan Chase & Co. lifted their target price on shares of Toast from $36.00 to $42.00 and gave the stock a “neutral” rating in a research report on Thursday, February 20th. DA Davidson dropped their target price on shares of Toast from $42.00 to $40.00 and set a “neutral” rating on the stock in a research report on Wednesday, April 30th. Piper Sandler lifted their target price on shares of Toast from $35.00 to $37.00 and gave the stock a “neutral” rating in a research report on Friday, May 9th. Finally, Keefe, Bruyette & Woods lifted their target price on shares of Toast from $40.00 to $42.00 and gave the stock a “market perform” rating in a research report on Thursday, February 20th. Thirteen research analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the company. According to data from MarketBeat, the company has an average rating of “Hold” and an average target price of $40.91.

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.