Employees Retirement System of Texas Acquires New Position in Toast, Inc. $TOST

Employees Retirement System of Texas bought a new position in shares of Toast, Inc. (NYSE:TOST) in the 2nd quarter, Holdings Channel reports. The institutional investor bought 3,142 shares of the company’s stock, valued at approximately $139,000.

A number of other large investors have also recently modified their holdings of TOST. Vanguard Group Inc. raised its holdings in shares of Toast by 1.1% during the 2nd quarter. Vanguard Group Inc. now owns 44,411,722 shares of the company’s stock worth $1,966,995,000 after buying an additional 466,138 shares in the last quarter. Price T Rowe Associates Inc. MD grew its position in Toast by 17.5% in the first quarter. Price T Rowe Associates Inc. MD now owns 23,454,209 shares of the company’s stock valued at $777,978,000 after acquiring an additional 3,490,686 shares during the last quarter. T. Rowe Price Investment Management Inc. grew its position in Toast by 7.5% in the first quarter. T. Rowe Price Investment Management Inc. now owns 15,520,360 shares of the company’s stock valued at $514,811,000 after acquiring an additional 1,082,958 shares during the last quarter. Jennison Associates LLC raised its stake in Toast by 331.0% during the second quarter. Jennison Associates LLC now owns 8,601,887 shares of the company’s stock worth $380,978,000 after acquiring an additional 6,606,245 shares in the last quarter. Finally, Geode Capital Management LLC lifted its holdings in shares of Toast by 2.8% in the second quarter. Geode Capital Management LLC now owns 7,902,519 shares of the company’s stock worth $348,906,000 after acquiring an additional 218,537 shares during the last quarter. Institutional investors and hedge funds own 82.91% of the company’s stock.

Toast Price Performance

NYSE TOST opened at $34.14 on Friday. Toast, Inc. has a one year low of $28.12 and a one year high of $49.66. The business has a 50 day simple moving average of $36.39 and a 200 day simple moving average of $41.20. The stock has a market capitalization of $17.58 billion, a P/E ratio of 79.40 and a beta of 1.94.

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

Insider Transactions at Toast

In other news, CRO Jonathan Vassil sold 1,442 shares of the company’s stock in a transaction dated Tuesday, November 4th. The shares were sold at an average price of $35.54, for a total transaction of $51,248.68. Following the transaction, the executive owned 71,424 shares in the company, valued at approximately $2,538,408.96. This represents a 1.98% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CEO Aman Narang sold 1,732 shares of the firm’s stock in a transaction dated Tuesday, November 4th. The shares were sold at an average price of $35.54, for a total value of $61,555.28. Following the completion of the sale, the chief executive officer owned 319,939 shares of the company’s stock, valued at approximately $11,370,632.06. This represents a 0.54% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. In the last quarter, insiders sold 49,759 shares of company stock valued at $1,769,270. 12.14% of the stock is owned by insiders.

Analysts Set New Price Targets

Several equities research analysts recently issued reports on the stock. Morgan Stanley lifted their price target on shares of Toast from $54.00 to $56.00 and gave the company an “overweight” rating in a report on Wednesday, November 5th. Weiss Ratings restated a “hold (c-)” rating on shares of Toast in a research report on Monday. JPMorgan Chase & Co. cut their target price on Toast from $52.00 to $43.00 and set a “neutral” rating on the stock in a report on Wednesday, November 5th. Wall Street Zen upgraded Toast from a “hold” rating to a “buy” rating in a research report on Friday, October 3rd. Finally, 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. Two equities research analysts have rated the stock with a Strong Buy rating, eleven have assigned a Buy rating and ten have assigned a Hold rating to the company’s stock. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average price target of $45.29.

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.