Toast, Inc. (NYSE:TOST) Shares Sold by New York State Common Retirement Fund

New York State Common Retirement Fund cut its stake in shares of Toast, Inc. (NYSE:TOST) by 0.7% in the first quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 233,220 shares of the company’s stock after selling 1,700 shares during the quarter. New York State Common Retirement Fund’s holdings in Toast were worth $7,736,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also made changes to their positions in the company. PNC Financial Services Group Inc. boosted its holdings in Toast by 115.3% in the fourth quarter. PNC Financial Services Group Inc. now owns 6,988 shares of the company’s stock valued at $255,000 after purchasing an additional 3,742 shares in the last quarter. Farther Finance Advisors LLC increased its position in Toast by 19.8% during the 4th quarter. Farther Finance Advisors LLC now owns 2,435 shares of the company’s stock worth $89,000 after purchasing an additional 402 shares in the last quarter. Natixis Advisors LLC increased its position in Toast by 10.2% during the 4th quarter. Natixis Advisors LLC now owns 90,614 shares of the company’s stock worth $3,303,000 after purchasing an additional 8,355 shares in the last quarter. Envestnet Portfolio Solutions Inc. grew its holdings in Toast by 6.6% in the 4th quarter. Envestnet Portfolio Solutions Inc. now owns 19,967 shares of the company’s stock valued at $728,000 after buying an additional 1,236 shares during the period. Finally, iA Global Asset Management Inc. grew its holdings in Toast by 22.5% in the 4th quarter. iA Global Asset Management Inc. now owns 14,344 shares of the company’s stock valued at $523,000 after buying an additional 2,633 shares during the period. 82.91% of the stock is owned by institutional investors and hedge funds.

Toast Price Performance

Shares of TOST opened at $46.56 on Friday. The company has a market cap of $23.19 billion, a P/E ratio of 202.43 and a beta of 2.00. The stock has a fifty day moving average price of $43.43 and a 200 day moving average price of $38.90. Toast, Inc. has a 12 month low of $22.10 and a 12 month high of $47.50.

Analyst Ratings Changes

Several equities analysts have recently weighed in on the company. Citigroup reaffirmed a “buy” rating on shares of Toast in a research note on Wednesday. Morgan Stanley boosted their price target on Toast from $46.00 to $50.00 and gave the stock an “overweight” rating in a research report on Friday, May 9th. Deutsche Bank Aktiengesellschaft initiated coverage on Toast in a research report on Thursday. They set a “buy” rating and a $54.00 price target on the stock. Piper Sandler upped their target price on Toast from $35.00 to $37.00 and gave the company a “neutral” rating in a research report on Friday, May 9th. Finally, Barclays reaffirmed an “overweight” rating on shares of Toast in a research report on Wednesday. Twelve analysts have rated the stock with a hold rating and fifteen have issued a buy rating to the company’s stock. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average target price of $43.17.

Insider Buying and Selling

In other news, Director Paul D. Bell sold 11,000 shares of the stock in a transaction on Thursday, May 15th. The stock was sold at an average price of $45.13, for a total value of $496,430.00. Following the completion of the transaction, the director owned 229,680 shares of the company’s stock, valued at approximately $10,365,458.40. This represents a 4.57% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. Also, CEO Aman Narang sold 13,829 shares of the stock in a transaction on Wednesday, July 2nd. The stock was sold at an average price of $42.59, for a total value of $588,977.11. Following the completion of the transaction, the chief executive officer directly owned 302,498 shares of the company’s stock, valued at approximately $12,883,389.82. The trade was a 4.37% decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 466,131 shares of company stock valued at $20,048,851. Company insiders own 13.32% of the company’s stock.

About Toast

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.