Toast, Inc. (NYSE:TOST) Shares Acquired by State of New Jersey Common Pension Fund D

State of New Jersey Common Pension Fund D increased its holdings in Toast, Inc. (NYSE:TOST) by 6.4% in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 199,223 shares of the company’s stock after purchasing an additional 11,929 shares during the quarter. State of New Jersey Common Pension Fund D’s holdings in Toast were worth $3,638,000 at the end of the most recent reporting period.

A number of other large investors also recently bought and sold shares of TOST. SG Americas Securities LLC acquired a new position in Toast in the 3rd quarter worth about $2,040,000. Caprock Group LLC raised its holdings in Toast by 13.1% in the 3rd quarter. Caprock Group LLC now owns 12,208 shares of the company’s stock worth $229,000 after purchasing an additional 1,413 shares during the period. Handelsbanken Fonder AB raised its holdings in Toast by 8.4% in the 3rd quarter. Handelsbanken Fonder AB now owns 52,700 shares of the company’s stock worth $987,000 after purchasing an additional 4,100 shares during the period. Commonwealth Equity Services LLC raised its holdings in Toast by 53.8% in the 3rd quarter. Commonwealth Equity Services LLC now owns 123,211 shares of the company’s stock worth $2,308,000 after purchasing an additional 43,101 shares during the period. Finally, Pinnacle Associates Ltd. acquired a new position in Toast in the 3rd quarter worth about $230,000. Institutional investors and hedge funds own 82.91% of the company’s stock.

Insider Activity

In other news, insider James Michael Matlock sold 1,205 shares of the stock in a transaction on Tuesday, April 2nd. The stock was sold at an average price of $23.40, for a total value of $28,197.00. Following the sale, the insider now directly owns 40,954 shares in the company, valued at $958,323.60. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. In other news, insider James Michael Matlock sold 1,205 shares of the stock in a transaction on Tuesday, April 2nd. The stock was sold at an average price of $23.40, for a total value of $28,197.00. Following the sale, the insider now directly owns 40,954 shares in the company, valued at $958,323.60. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, CEO Aman Narang sold 2,471 shares of the stock in a transaction on Tuesday, April 2nd. The shares were sold at an average price of $23.40, for a total value of $57,821.40. Following the completion of the sale, the chief executive officer now owns 1,114,454 shares in the company, valued at $26,078,223.60. The disclosure for this sale can be found here. Over the last three months, insiders have sold 414,486 shares of company stock worth $8,662,487. Corporate insiders own 13.70% of the company’s stock.

Toast Stock Up 3.4 %

NYSE:TOST opened at $23.91 on Friday. The stock’s fifty day moving average is $23.36 and its two-hundred day moving average is $19.23. Toast, Inc. has a 52 week low of $13.77 and a 52 week high of $27.00. The stock has a market capitalization of $10.79 billion, a price-to-earnings ratio of -46.88 and a beta of 1.79.

Toast (NYSE:TOST) last released its quarterly earnings results on Thursday, February 15th. The company reported ($0.07) EPS for the quarter, topping analysts’ consensus estimates of ($0.11) by $0.04. Toast had a negative return on equity of 21.77% and a negative net margin of 6.36%. The company had revenue of $1.04 billion for the quarter, compared to analysts’ expectations of $1.02 billion. During the same period in the prior year, the firm earned ($0.19) earnings per share. The firm’s revenue was up 34.7% compared to the same quarter last year. On average, sell-side analysts expect that Toast, Inc. will post -0.22 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of equities analysts have commented on the company. Keefe, Bruyette & Woods started coverage on Toast in a report on Tuesday, April 9th. They set a “market perform” rating and a $25.00 target price for the company. Piper Sandler upped their price target on Toast from $18.00 to $20.00 and gave the company a “neutral” rating in a research report on Friday, February 16th. Wells Fargo & Company upped their price target on Toast from $15.00 to $17.00 and gave the company an “underweight” rating in a research report on Friday, April 12th. Robert W. Baird upped their price target on Toast from $24.00 to $28.00 and gave the company an “outperform” rating in a research report on Monday, April 15th. Finally, Mizuho reiterated a “neutral” rating and issued a $17.00 price objective on shares of Toast in a research report on Wednesday, March 27th. One equities research analyst has rated the stock with a sell rating, eight have issued a hold rating and nine have given a buy rating to the company. According to MarketBeat, the company has a consensus rating of “Hold” and a consensus target price of $24.32.

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.