State Board of Administration of Florida Retirement System Purchases New Position in Toast, Inc. (NYSE:TOST)

State Board of Administration of Florida Retirement System purchased a new stake in Toast, Inc. (NYSE:TOSTGet Rating) in the 2nd quarter, according to the company in its most recent Form 13F filing with the SEC. The fund purchased 51,410 shares of the company’s stock, valued at approximately $665,000.

A number of other large investors have also recently added to or reduced their stakes in the stock. Bridgewater Advisors Inc. boosted its position in Toast by 6.8% during the first quarter. Bridgewater Advisors Inc. now owns 16,660 shares of the company’s stock worth $362,000 after purchasing an additional 1,060 shares during the period. Captrust Financial Advisors boosted its position in Toast by 44.8% during the first quarter. Captrust Financial Advisors now owns 4,866 shares of the company’s stock worth $106,000 after purchasing an additional 1,505 shares during the period. Advisory Services Network LLC boosted its position in Toast by 8.9% during the second quarter. Advisory Services Network LLC now owns 34,262 shares of the company’s stock worth $443,000 after purchasing an additional 2,796 shares during the period. Commonwealth Equity Services LLC boosted its position in Toast by 23.0% during the second quarter. Commonwealth Equity Services LLC now owns 16,011 shares of the company’s stock worth $207,000 after purchasing an additional 2,998 shares during the period. Finally, Charles Schwab Investment Management Inc. lifted its holdings in shares of Toast by 2.3% during the first quarter. Charles Schwab Investment Management Inc. now owns 370,523 shares of the company’s stock worth $8,052,000 after buying an additional 8,477 shares during the last quarter. Institutional investors own 45.65% of the company’s stock.

Toast Price Performance

Toast stock opened at $18.20 on Friday. The stock has a fifty day moving average price of $19.18 and a two-hundred day moving average price of $17.08. Toast, Inc. has a 52-week low of $11.91 and a 52-week high of $45.40. The firm has a market capitalization of $9.32 billion, a P/E ratio of -24.93 and a beta of 1.96.

Wall Street Analysts Forecast Growth

A number of research analysts have recently commented on TOST shares. William Blair reiterated an “outperform” rating on shares of Toast in a report on Thursday, November 10th. Robert W. Baird upped their price target on Toast from $25.00 to $26.00 in a report on Friday, November 11th. Piper Sandler upped their price target on Toast from $22.00 to $26.00 and gave the stock an “overweight” rating in a report on Friday, August 12th. Wells Fargo & Company upped their price target on Toast from $23.00 to $27.00 and gave the stock an “overweight” rating in a report on Friday, November 11th. Finally, UBS Group started coverage on Toast in a report on Wednesday, September 14th. They set a “neutral” rating and a $22.00 price target for the company. One research analyst has rated the stock with a sell rating, six have assigned a hold rating and eight have given a buy rating to the company’s stock. According to data from MarketBeat.com, the company presently has an average rating of “Hold” and an average target price of $24.61.

Insiders Place Their Bets

In other Toast news, insider James Michael Matlock sold 25,991 shares of the stock in a transaction on Wednesday, November 2nd. The stock was sold at an average price of $21.18, for a total transaction of $550,489.38. Following the completion of the transaction, the insider now directly owns 38,704 shares in the company, valued at $819,750.72. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In other news, Director Mark J. Hawkins sold 52,790 shares of the stock in a transaction on Tuesday, September 13th. The stock was sold at an average price of $20.82, for a total transaction of $1,099,087.80. Following the sale, the director now owns 64,007 shares in the company, valued at $1,332,625.74. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, insider James Michael Matlock sold 25,991 shares of the stock in a transaction on Wednesday, November 2nd. The stock was sold at an average price of $21.18, for a total value of $550,489.38. Following the sale, the insider now owns 38,704 shares in the company, valued at approximately $819,750.72. The disclosure for this sale can be found here. Insiders sold 264,552 shares of company stock worth $5,295,253 over the last three months. 20.16% of the stock is currently owned by corporate insiders.

Toast Company Profile

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Toast, Inc operates a cloud-based and digital technology platform for the restaurant industry in the United States and Ireland. The company offers Toast Point of Sale (POS), a hardware product; Toast Order & Pay, which allows guests to order and pay from their mobile devices; Toast Flex that is used for on-counter order and pay, as well as used as a server station, guest kiosk, kitchen display system, or order fulfillment station; Toast Go, a handheld POS device that enhances the table turn times through tableside ordering and payment acceptance; and Toast Tap, a card reader.

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Institutional Ownership by Quarter for Toast (NYSE:TOST)

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