Public Employees Retirement System of Ohio Makes New Investment in Toast, Inc. $TOST

Public Employees Retirement System of Ohio purchased a new stake in Toast, Inc. (NYSE:TOST) in the second quarter, according to the company in its most recent filing with the SEC. The firm purchased 137,285 shares of the company’s stock, valued at approximately $3,819,000.

A number of other institutional investors and hedge funds have also modified their holdings of TOST. Bayban purchased a new position in Toast in the 4th quarter valued at approximately $25,000. SHP Wealth Management purchased a new stake in Toast during the fourth quarter worth $29,000. Strive Financial Group LLC acquired a new stake in Toast in the fourth quarter valued at $29,000. Ancora Advisors LLC purchased a new position in shares of Toast in the second quarter valued at $31,000. Finally, Silicon Valley Capital Partners purchased a new position in shares of Toast in the fourth quarter valued at $36,000. Institutional investors and hedge funds own 82.91% of the company’s stock.

Analyst Ratings Changes

Several equities research analysts recently commented on the stock. Sanford C. Bernstein boosted their price objective on shares of Toast from $39.00 to $45.00 and gave the stock an “outperform” rating in a research report on Thursday, August 6th. UBS Group raised their target price on shares of Toast from $34.00 to $39.00 and gave the company a “buy” rating in a report on Wednesday, August 5th. Morgan Stanley set a $45.00 target price on shares of Toast in a research report on Friday, May 8th. Canaccord Genuity Group set a $40.00 price target on shares of Toast in a report on Wednesday, August 5th. Finally, Robert W. Baird increased their price target on shares of Toast from $30.00 to $33.00 and gave the company a “neutral” rating in a research report on Wednesday, July 8th. Sixteen analysts have rated the stock with a Buy rating and eleven have given a Hold rating to the stock. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $39.12.

Insider Activity at Toast

In other Toast news, CFO Elena Gomez sold 16,176 shares of the business’s stock in a transaction on Wednesday, August 5th. The stock was sold at an average price of $35.29, for a total value of $570,851.04. Following the completion of the transaction, the chief financial officer directly owned 168,974 shares in the company, valued at approximately $5,963,092.46. The trade was a 8.74% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CRO Jonathan Vassil sold 85,280 shares of the stock in a transaction on Friday, August 21st. The stock was sold at an average price of $36.34, for a total value of $3,099,075.20. Following the transaction, the executive directly owned 69,966 shares in the company, valued at approximately $2,542,564.44. This represents a 54.93% decrease in their position. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Over the last 90 days, insiders have sold 508,253 shares of company stock valued at $17,688,694. Company insiders own 10.03% of the company’s stock.

Toast Trading Down 0.5%

Shares of TOST stock opened at $33.86 on Friday. The firm has a 50-day moving average price of $32.27 and a 200 day moving average price of $28.50. Toast, Inc. has a twelve month low of $22.26 and a twelve month high of $42.62. The company has a market capitalization of $17.40 billion, a price-to-earnings ratio of 43.41 and a beta of 1.72.

Toast (NYSE:TOST) last released its quarterly earnings results on Tuesday, August 4th. The company reported $0.26 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.32 by ($0.06). The firm had revenue of $1.91 billion for the quarter, compared to analyst estimates of $1.87 billion. Toast had a return on equity of 23.90% and a net margin of 7.14%.Toast’s revenue for the quarter was up 23.1% on a year-over-year basis. During the same period in the prior year, the business earned $0.13 earnings per share. As a group, research analysts predict that Toast, Inc. will post 1 earnings per share for the current year.

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.