Nikko Asset Management Americas Inc. Sells 543,132 Shares of Toast, Inc. (NYSE:TOST)

Nikko Asset Management Americas Inc. reduced its position in shares of Toast, Inc. (NYSE:TOST) by 10.1% in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 4,846,921 shares of the company’s stock after selling 543,132 shares during the period. Toast accounts for approximately 1.9% of Nikko Asset Management Americas Inc.’s holdings, making the stock its 13th biggest position. Nikko Asset Management Americas Inc. owned about 1.03% of Toast worth $176,670,000 at the end of the most recent reporting period.

Other large investors have also modified their holdings of the company. Blue Trust Inc. boosted its holdings in shares of Toast by 120.4% during the 4th quarter. Blue Trust Inc. now owns 692 shares of the company’s stock worth $25,000 after buying an additional 378 shares during the period. Piscataqua Savings Bank acquired a new position in Toast during the 4th quarter valued at $26,000. Stonebridge Financial Group LLC acquired a new position in Toast during the 4th quarter valued at $34,000. SBI Securities Co. Ltd. acquired a new position in Toast during the 4th quarter valued at $35,000. Finally, Wingate Wealth Advisors Inc. acquired a new position in Toast during the 4th quarter valued at $40,000. 82.91% of the stock is owned by institutional investors.

Toast Stock Up 5.5 %

NYSE TOST opened at $34.41 on Monday. The firm’s 50 day moving average is $38.05 and its 200-day moving average is $34.78. The company has a market capitalization of $17.00 billion, a PE ratio of -3,437.06, a price-to-earnings-growth ratio of 2.16 and a beta of 1.99. Toast, Inc. has a 12-month low of $21.32 and a 12-month high of $44.12.

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 analysts’ consensus estimates of $0.06 by ($0.01). The business had revenue of $1.34 billion during the quarter, compared to analyst estimates of $1.32 billion. Toast had a net margin of 0.40% and a return on equity of 1.54%. As a group, sell-side analysts expect 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 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 sale, the director now owns 13,260 shares of the company’s stock, valued at approximately $437,712.60. This represents a 72.07 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, President Stephen Fredette sold 1,068 shares of the company’s stock in a transaction dated Tuesday, February 4th. The stock was sold at an average price of $39.63, for a total value of $42,324.84. Following the completion of the transaction, the president now owns 1,644,656 shares in the company, valued at $65,177,717.28. This represents a 0.06 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 254,641 shares of company stock valued at $8,937,776 over the last ninety days. 13.32% of the stock is owned by company insiders.

Analyst Ratings Changes

Several equities analysts recently commented on the stock. Robert W. Baird upped their target price on shares of Toast from $38.00 to $40.00 and gave the company a “neutral” rating in a research note on Thursday, February 20th. Oppenheimer assumed coverage on shares of Toast in a research note on Friday, January 24th. They issued an “outperform” rating and a $46.00 price objective for the company. Needham & Company LLC restated a “buy” rating and issued a $50.00 price objective on shares of Toast in a research note on Thursday, February 20th. The Goldman Sachs Group set a $40.00 target price on shares of Toast and gave the stock a “neutral” rating in a report on Wednesday, February 19th. Finally, Compass Point initiated coverage on shares of Toast in a report on Wednesday, November 20th. They set a “buy” rating and a $49.00 price objective on the stock. One research analyst has rated the stock with a sell rating, twelve have assigned a hold rating and nine have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the company has a consensus rating of “Hold” and an average price target of $40.48.

Toast Company 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.