Teacher Retirement System of Texas Has $2.14 Million Position in Toast, Inc. $TOST

Teacher Retirement System of Texas reduced its stake in shares of Toast, Inc. (NYSE:TOST) by 27.8% during the 3rd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 58,683 shares of the company’s stock after selling 22,642 shares during the period. Teacher Retirement System of Texas’ holdings in Toast were worth $2,143,000 as of its most recent SEC filing.

Other institutional investors have also made changes to their positions in the company. K.J. Harrison & Partners Inc bought a new position in shares of Toast during the 2nd quarter worth approximately $1,329,000. Nordea Investment Management AB raised its stake in shares of Toast by 49.5% in the third quarter. Nordea Investment Management AB now owns 138,619 shares of the company’s stock worth $4,988,000 after acquiring an additional 45,898 shares during the last quarter. Reliant Investment Partners LLC acquired a new stake in shares of Toast in the 2nd quarter valued at $472,000. Northeast Investment Management grew its position in shares of 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 during the period. Finally, Y Intercept Hong Kong Ltd acquired a new position in shares of Toast in the 2nd quarter valued at $4,850,000. 82.91% of the stock is currently owned by institutional investors and hedge funds.

Toast Trading Down 0.1%

NYSE:TOST opened at $31.05 on Friday. The firm has a fifty day simple moving average of $34.75 and a two-hundred day simple moving average of $38.59. Toast, Inc. has a 12 month low of $28.12 and a 12 month high of $49.66. The stock has a market capitalization of $15.99 billion, a price-to-earnings ratio of 72.21 and a beta of 1.93.

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

Analysts Set New Price Targets

TOST has been the topic of several research analyst reports. DA Davidson set a $42.00 target price on Toast in a research note on Wednesday, November 5th. JPMorgan Chase & Co. upgraded shares of Toast from a “neutral” rating to an “overweight” rating and set a $43.00 price objective on the stock in a report on Thursday, December 4th. Stephens set a $42.00 target price on Toast in a report on Friday, January 16th. Truist Financial set a $42.00 price objective on Toast in a report on Tuesday, January 20th. Finally, Oppenheimer reduced their target price on Toast from $49.00 to $48.00 and set an “outperform” rating on the stock in a report on Monday, January 12th. Two equities research analysts have rated the stock with a Strong Buy rating, thirteen have assigned a Buy rating and eight have issued a Hold rating to the company’s stock. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average target price of $45.82.

Insider Activity at Toast

In other Toast news, CEO Aman Narang sold 8,591 shares of the stock in a transaction dated Monday, January 5th. The shares were sold at an average price of $34.38, for a total value of $295,358.58. Following the completion of the sale, the chief executive officer owned 338,850 shares in the company, valued at approximately $11,649,663. This trade represents a 2.47% decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, President Stephen Fredette sold 4,866 shares of the business’s stock in a transaction that occurred on Monday, January 5th. The stock was sold at an average price of $34.38, for a total value of $167,293.08. Following the completion of the transaction, the president owned 910,606 shares in the company, valued at $31,306,634.28. The trade was a 0.53% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold 102,595 shares of company stock valued at $3,634,737 over the last three months. Insiders own 12.14% of the company’s stock.

Toast Company Profile

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.