Public Employees Retirement System of Ohio Trims Holdings in Toast, Inc. $TOST

Public Employees Retirement System of Ohio reduced its stake in Toast, Inc. (NYSE:TOST) by 1.6% during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 140,973 shares of the company’s stock after selling 2,331 shares during the quarter. Public Employees Retirement System of Ohio’s holdings in Toast were worth $6,244,000 at the end of the most recent reporting period.

Other large investors have also modified their holdings of the company. Wayfinding Financial LLC purchased a new position in Toast during the 1st quarter worth $34,000. Piscataqua Savings Bank increased its stake in shares of Toast by 57.1% during the first quarter. Piscataqua Savings Bank now owns 1,100 shares of the company’s stock worth $36,000 after acquiring an additional 400 shares during the period. West Branch Capital LLC increased its stake in shares of Toast by 862.1% during the first quarter. West Branch Capital LLC now owns 1,116 shares of the company’s stock worth $37,000 after acquiring an additional 1,000 shares during the period. SBI Securities Co. Ltd. raised its holdings in Toast by 29.2% during the first quarter. SBI Securities Co. Ltd. now owns 1,257 shares of the company’s stock worth $42,000 after purchasing an additional 284 shares in the last quarter. Finally, Signaturefd LLC lifted its position in Toast by 227.1% in the first quarter. Signaturefd LLC now owns 1,472 shares of the company’s stock valued at $49,000 after purchasing an additional 1,022 shares during the period. Hedge funds and other institutional investors own 82.91% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities analysts have recently issued reports on the company. Canaccord Genuity Group increased their target price on Toast from $48.00 to $54.00 and gave the stock a “buy” rating in a research note on Wednesday, August 6th. Truist Financial upped their price objective on Toast from $48.00 to $50.00 and gave the stock a “buy” rating in a report on Thursday, July 17th. Needham & Company LLC upped their price target on shares of Toast from $50.00 to $60.00 and gave the stock a “buy” rating in a research note on Wednesday, August 6th. Robert W. Baird set a $48.00 price target on shares of Toast in a report on Monday, September 22nd. Finally, Jefferies Financial Group boosted their price objective on shares of Toast from $50.00 to $54.00 and gave the stock a “buy” rating in a report on Friday, July 18th. Fifteen research analysts have rated the stock with a Buy rating and ten have given a Hold rating to the company’s stock. According to data from MarketBeat.com, Toast presently has an average rating of “Moderate Buy” and an average price target of $46.65.

Insider Buying and Selling

In other news, Director Paul D. Bell sold 12,500 shares of the company’s stock in a transaction on Thursday, August 21st. The shares were sold at an average price of $42.38, for a total value of $529,750.00. Following the completion of the transaction, the director directly owned 226,892 shares in the company, valued at approximately $9,615,682.96. This represents a 5.22% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, CFO Elena Gomez sold 2,006 shares of Toast stock in a transaction dated Monday, August 4th. The stock was sold at an average price of $48.38, for a total value of $97,050.28. Following the sale, the chief financial officer directly owned 141,263 shares in the company, valued at approximately $6,834,303.94. The trade was a 1.40% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 88,342 shares of company stock valued at $3,804,710. 12.14% of the stock is owned by insiders.

Toast Stock Up 0.8%

Shares of NYSE:TOST opened at $37.13 on Monday. The company has a market capitalization of $18.94 billion, a P/E ratio of 109.20 and a beta of 2.00. The stock’s fifty day simple moving average is $43.47 and its 200-day simple moving average is $40.80. Toast, Inc. has a 52-week low of $26.91 and a 52-week high of $49.66.

Toast (NYSE:TOST) last posted its quarterly earnings data on Tuesday, August 5th. The company reported $0.13 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.23 by ($0.10). Toast had a return on equity of 14.19% and a net margin of 4.07%.The business had revenue of $1.55 billion for the quarter, compared to analyst estimates of $1.52 billion. During the same quarter last year, the business earned $0.02 EPS. Toast’s revenue for the quarter was up 24.8% compared to the same quarter last year. On average, sell-side analysts anticipate that Toast, Inc. will post 0.39 earnings per share for the current year.

Toast 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.