California Public Employees Retirement System Increases Stake in Toast, Inc. $TOST

California Public Employees Retirement System lifted its stake in Toast, Inc. (NYSE:TOST) by 8.1% during the 2nd quarter, according to its most recent disclosure with the SEC. The institutional investor owned 814,519 shares of the company’s stock after buying an additional 60,843 shares during the quarter. California Public Employees Retirement System owned approximately 0.16% of Toast worth $36,075,000 at the end of the most recent reporting period.

Other institutional investors also recently bought and sold shares of the company. RiverPark Advisors LLC bought a new stake in Toast in the 2nd quarter valued at $30,000. Ameritas Advisory Services LLC bought a new stake in shares of Toast in the second quarter worth about $31,000. REAP Financial Group LLC lifted its position in shares of Toast by 173.3% in the second quarter. REAP Financial Group LLC now owns 798 shares of the company’s stock worth $35,000 after buying an additional 506 shares in the last quarter. Loomis Sayles & Co. L P purchased a new stake in shares of Toast in the second quarter worth about $42,000. Finally, Motco bought a new position in Toast during the second quarter valued at approximately $44,000. 82.91% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several analysts have recently issued reports on the company. UBS Group set a $43.00 price objective on Toast in a report on Thursday, December 4th. Weiss Ratings reaffirmed a “hold (c-)” rating on shares of Toast in a research note on Monday. Wall Street Zen raised shares of Toast from a “hold” rating to a “buy” rating in a research note on Friday, October 3rd. DA Davidson set a $42.00 target price on shares of Toast in a report on Wednesday, November 5th. Finally, Truist Financial lowered their price target on shares of Toast from $47.00 to $43.00 and set a “buy” rating for the company in a report on Thursday, November 13th. Two investment analysts have rated the stock with a Strong Buy rating, fourteen have assigned a Buy rating and eight have given a Hold rating to the stock. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus price target of $45.18.

Toast Trading Up 2.4%

TOST stock opened at $35.39 on Thursday. The stock has a market cap of $18.23 billion, a PE ratio of 82.31 and a beta of 1.94. Toast, Inc. has a 12 month low of $28.12 and a 12 month high of $49.66. The company has a 50-day moving average price of $36.01 and a 200 day moving average price of $40.67.

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

Insider Activity

In related news, CRO Jonathan Vassil sold 1,442 shares of the business’s stock in a transaction on Tuesday, November 4th. The stock was sold at an average price of $35.54, for a total transaction of $51,248.68. Following the completion of the transaction, the executive owned 71,424 shares in the company, valued at $2,538,408.96. The trade was a 1.98% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CEO Aman Narang sold 1,732 shares of the stock in a transaction on Tuesday, November 4th. The stock was 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 in the company, valued at approximately $11,370,632.06. The trade was a 0.54% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders sold 49,759 shares of company stock worth $1,769,270 in the last three months. Corporate insiders own 12.14% of the company’s stock.

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.