Strs Ohio Has $1.31 Million Stake in Toast, Inc. $TOST

Strs Ohio reduced its holdings in Toast, Inc. (NYSE:TOST) by 38.1% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 35,801 shares of the company’s stock after selling 22,047 shares during the quarter. Strs Ohio’s holdings in Toast were worth $1,307,000 at the end of the most recent reporting period.

Other large investors have also bought and sold shares of the company. K.J. Harrison & Partners Inc acquired a new position in shares of Toast during the second quarter worth approximately $1,329,000. Nordea Investment Management AB raised its position in Toast by 49.5% in the 3rd quarter. Nordea Investment Management AB now owns 138,619 shares of the company’s stock worth $4,988,000 after purchasing an additional 45,898 shares during the last quarter. Reliant Investment Partners LLC bought a new position in Toast in the 2nd quarter worth approximately $472,000. Northeast Investment Management lifted its holdings in Toast by 52.3% during the 2nd quarter. Northeast Investment Management now owns 79,690 shares of the company’s stock worth $3,529,000 after buying an additional 27,365 shares in the last quarter. Finally, Y Intercept Hong Kong Ltd bought a new position in Toast in the 2nd quarter valued at $4,850,000. 82.91% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

TOST has been the subject of a number of recent research reports. Evercore ISI upgraded Toast from an “in-line” rating to an “outperform” rating and set a $40.00 target price for the company in a research report on Tuesday, January 20th. Jefferies Financial Group lowered their price objective on Toast from $54.00 to $45.00 and set a “buy” rating for the company in a research report on Wednesday, November 5th. Robert W. Baird cut their target price on shares of Toast from $48.00 to $36.00 and set a “neutral” rating on the stock in a research report on Monday, October 6th. The Goldman Sachs Group reduced their target price on shares of Toast from $51.00 to $41.00 and set a “neutral” rating on the stock in a research note on Monday, October 13th. Finally, Stephens set a $42.00 price target on shares of Toast in a research report on Friday, January 16th. Two analysts have rated the stock with a Strong Buy rating, thirteen have given a Buy rating and eight have given a Hold rating to the company. According to MarketBeat.com, Toast currently has a consensus rating of “Moderate Buy” and an average target price of $45.82.

Toast Trading Down 3.1%

Toast stock opened at $32.46 on Wednesday. The firm has a market capitalization of $16.72 billion, a P/E ratio of 75.50 and a beta of 1.93. Toast, Inc. has a 1 year low of $28.12 and a 1 year high of $49.66. The business has a 50-day moving average of $34.86 and a 200-day moving average of $38.78.

Toast (NYSE:TOST) last announced its quarterly earnings results on Tuesday, November 4th. The company reported $0.16 earnings per share for the quarter, missing analysts’ consensus estimates of $0.24 by ($0.08). Toast had a net margin of 4.68% and a return on equity of 15.77%. The firm had revenue of $1.63 billion during the quarter, compared to analyst estimates of $1.58 billion. During the same quarter in the prior year, the business earned $0.07 earnings per share. The business’s revenue was up 25.1% on a year-over-year basis. Research analysts anticipate that Toast, Inc. will post 0.39 EPS for the current fiscal year.

Insider Buying and Selling

In other news, CFO Elena Gomez sold 6,672 shares of Toast stock in a transaction on Monday, January 5th. The shares were sold at an average price of $34.38, for a total transaction of $229,383.36. Following the transaction, the chief financial officer directly owned 162,153 shares of the company’s stock, valued at $5,574,820.14. This trade represents a 3.95% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CEO Aman Narang sold 8,591 shares of the business’s stock in a transaction on Monday, January 5th. The shares were sold at an average price of $34.38, for a total transaction of $295,358.58. Following the completion of the transaction, the chief executive officer directly owned 338,850 shares of the company’s stock, valued at $11,649,663. This trade represents a 2.47% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. In the last quarter, insiders sold 102,595 shares of company stock valued at $3,634,737. 12.14% of the stock is owned by company insiders.

About Toast

Toast, Inc (NYSE: TOST) is a technology company that builds a cloud-based platform for restaurants and other foodservice businesses. Headquartered in Boston, Massachusetts, Toast offers integrated point-of-sale (POS) systems and a suite of software and hardware designed to streamline front-of-house and back-of-house operations. The company went public in 2021 and has positioned itself as a vertically integrated provider for the restaurant industry.

Toast’s product portfolio includes touchscreen POS terminals and handheld order-and-pay devices, kitchen display systems, and peripherals tailored for high-volume foodservice environments.