Teacher Retirement System of Texas Decreases Stake in Toast, Inc. $TOST

Teacher Retirement System of Texas decreased its position in Toast, Inc. (NYSE:TOST) by 27.8% during the 3rd quarter, according to its most recent disclosure with the SEC. The fund owned 58,683 shares of the company’s stock after selling 22,642 shares during the period. Teacher Retirement System of Texas’ holdings in Toast were worth $2,143,000 as of its most recent SEC filing.

A number of other large investors have also added to or reduced their stakes in TOST. K.J. Harrison & Partners Inc purchased a new stake in shares of Toast during the second quarter worth about $1,329,000. Nordea Investment Management AB raised its position in Toast by 49.5% during the 3rd quarter. Nordea Investment Management AB now owns 138,619 shares of the company’s stock valued at $4,988,000 after purchasing an additional 45,898 shares during the last quarter. Reliant Investment Partners LLC purchased a new stake in Toast in the 2nd quarter worth approximately $472,000. Northeast Investment Management grew its position in shares of Toast by 52.3% in the 2nd quarter. Northeast Investment Management now owns 79,690 shares of the company’s stock worth $3,529,000 after buying an additional 27,365 shares during the last quarter. Finally, Y Intercept Hong Kong Ltd bought a new position in shares of Toast during the second quarter valued at approximately $4,850,000. Institutional investors own 82.91% of the company’s stock.

Toast Trading Down 0.1%

TOST stock opened at $31.05 on Friday. Toast, Inc. has a 12-month low of $28.12 and a 12-month high of $49.66. The stock’s 50 day simple moving average is $34.75 and its 200 day simple moving average is $38.59. The stock has a market capitalization of $15.99 billion, a PE ratio of 72.21 and a beta of 1.93.

Toast (NYSE:TOST) last released its quarterly earnings data on Tuesday, November 4th. The company reported $0.16 earnings per share for the quarter, missing the consensus estimate of $0.24 by ($0.08). Toast had a net margin of 4.68% and a return on equity of 15.77%. The company had revenue of $1.63 billion for the quarter, compared to analysts’ expectations of $1.58 billion. During the same period in the previous year, the firm earned $0.07 earnings per share. The firm’s revenue for the quarter was up 25.1% on a year-over-year basis. On average, research analysts predict that Toast, Inc. will post 0.39 earnings per share for the current year.

Insider Buying and Selling

In other news, CEO Aman Narang sold 8,591 shares of the stock in a transaction that occurred on Monday, January 5th. The shares were sold at an average price of $34.38, for a total value of $295,358.58. Following the transaction, the chief executive officer owned 338,850 shares in the company, valued at $11,649,663. This represents a 2.47% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, President Stephen Fredette sold 4,866 shares of the stock in a transaction that occurred on Monday, January 5th. The stock was sold at an average price of $34.38, for a total transaction of $167,293.08. Following the completion of the transaction, the president owned 910,606 shares in the company, valued at $31,306,634.28. The trade was a 0.53% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders have sold a total of 102,595 shares of company stock valued at $3,634,737 over the last ninety days. 12.14% of the stock is owned by insiders.

Wall Street Analysts Forecast Growth

TOST has been the topic of a number of research analyst reports. BNP Paribas Exane raised shares of Toast from a “hold” rating to an “outperform” rating and set a $40.00 price objective on the stock in a research report on Monday, December 1st. Morgan Stanley increased their price target on shares of Toast from $54.00 to $56.00 and gave the stock an “overweight” rating in a research note on Wednesday, November 5th. Evercore ISI upgraded Toast from an “in-line” rating to an “outperform” rating and set a $40.00 target price on the stock in a report on Tuesday, January 20th. Wells Fargo & Company upgraded Toast to a “strong-buy” rating in a research report on Wednesday, October 22nd. Finally, Wolfe Research lowered Toast from an “outperform” rating to a “peer perform” rating in a research report on Thursday, January 8th. Two research analysts have rated the stock with a Strong Buy rating, thirteen have issued a Buy rating and eight have given a Hold rating to the company’s stock. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average target price of $45.82.

Toast Company Profile

Toast, Inc (NYSE: TOST) is a technology company that builds a cloud-based platform for restaurants and other foodservice businesses. Headquartered in Boston, Massachusetts, Toast offers integrated point-of-sale (POS) systems and a suite of software and hardware designed to streamline front-of-house and back-of-house operations. The company went public in 2021 and has positioned itself as a vertically integrated provider for the restaurant industry.

Toast’s product portfolio includes touchscreen POS terminals and handheld order-and-pay devices, kitchen display systems, and peripherals tailored for high-volume foodservice environments.