Nomura Asset Management Co. Ltd. Boosts Stake in Toast, Inc. (NYSE:TOST)

Nomura Asset Management Co. Ltd. increased its position in Toast, Inc. (NYSE:TOST) by 17.1% in the third quarter, HoldingsChannel reports. The firm owned 102,800 shares of the company’s stock after purchasing an additional 15,000 shares during the quarter. Nomura Asset Management Co. Ltd.’s holdings in Toast were worth $2,910,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds also recently made changes to their positions in TOST. West Branch Capital LLC bought a new stake in Toast during the second quarter worth about $26,000. Toth Financial Advisory Corp bought a new stake in shares of Toast in the 3rd quarter worth approximately $28,000. 1620 Investment Advisors Inc. bought a new stake in shares of Toast in the 2nd quarter worth approximately $34,000. Raleigh Capital Management Inc. grew its stake in shares of Toast by 93.4% in the 3rd quarter. Raleigh Capital Management Inc. now owns 1,491 shares of the company’s stock worth $42,000 after buying an additional 720 shares during the last quarter. Finally, Farther Finance Advisors LLC increased its position in Toast by 32.3% during the 3rd quarter. Farther Finance Advisors LLC now owns 2,033 shares of the company’s stock valued at $58,000 after buying an additional 496 shares in the last quarter. Hedge funds and other institutional investors own 82.91% of the company’s stock.

Insider Transactions at Toast

In related news, President Stephen Fredette sold 144,238 shares of Toast stock in a transaction on Friday, September 20th. The shares were sold at an average price of $27.34, for a total transaction of $3,943,466.92. Following the transaction, the president now owns 2,160,499 shares in the company, valued at approximately $59,068,042.66. The trade was a 6.26 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, General Counsel Brian R. Elworthy sold 300,000 shares of the company’s stock in a transaction on Friday, October 18th. The stock was sold at an average price of $30.39, for a total transaction of $9,117,000.00. Following the completion of the transaction, the general counsel now directly owns 177,836 shares of the company’s stock, valued at $5,404,436.04. This represents a 62.78 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 1,375,061 shares of company stock worth $44,557,182 in the last three months. Corporate insiders own 13.32% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research firms have recently commented on TOST. Deutsche Bank Aktiengesellschaft increased their target price on Toast from $24.00 to $30.00 and gave the stock a “hold” rating in a research note on Monday, November 4th. Wedbush increased their price objective on shares of Toast from $35.00 to $45.00 and gave the company an “outperform” rating in a research report on Friday, November 8th. Morgan Stanley lifted their target price on shares of Toast from $30.00 to $33.00 and gave the stock an “overweight” rating in a report on Tuesday, October 22nd. Wells Fargo & Company upped their target price 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. Finally, JPMorgan Chase & Co. upped their price objective on Toast from $28.00 to $36.00 and gave the company a “neutral” rating in a research report on Friday, November 8th. One analyst has rated the stock with a sell rating, twelve have issued a hold rating and nine have assigned a buy rating to the company’s stock. According to MarketBeat, Toast has an average rating of “Hold” and an average target price of $34.81.

Toast Stock Down 3.7 %

Shares of TOST stock opened at $38.13 on Friday. Toast, Inc. has a 12 month low of $16.13 and a 12 month high of $44.12. The company has a 50 day simple moving average of $35.36 and a two-hundred day simple moving average of $28.67.

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.