Toast, Inc. $TOST Shares Acquired by Employees Retirement System of Texas

Employees Retirement System of Texas grew its holdings in Toast, Inc. (NYSE:TOST) by 23,078.2% in the 4th quarter, HoldingsChannel.com reports. The fund owned 1,114,408 shares of the company’s stock after buying an additional 1,109,600 shares during the quarter. Employees Retirement System of Texas’ holdings in Toast were worth $39,573,000 as of its most recent SEC filing.

Other institutional investors have also modified their holdings of the company. Central Pacific Bank Trust Division grew its stake in shares of Toast by 123.5% in the fourth quarter. Central Pacific Bank Trust Division now owns 943 shares of the company’s stock worth $33,000 after acquiring an additional 521 shares in the last quarter. Smartleaf Asset Management LLC grew its stake in shares of Toast by 59.1% in the third quarter. Smartleaf Asset Management LLC now owns 1,182 shares of the company’s stock worth $44,000 after acquiring an additional 439 shares in the last quarter. Cornerstone Planning Group LLC grew its stake in shares of Toast by 8,807.1% in the fourth quarter. Cornerstone Planning Group LLC now owns 1,247 shares of the company’s stock worth $44,000 after acquiring an additional 1,233 shares in the last quarter. Kohmann Bosshard Financial Services LLC acquired a new position in shares of Toast in the fourth quarter worth $45,000. Finally, GHP Investment Advisors Inc. grew its stake in shares of Toast by 40.0% in the fourth quarter. GHP Investment Advisors Inc. now owns 1,400 shares of the company’s stock worth $50,000 after acquiring an additional 400 shares in the last quarter. Institutional investors and hedge funds own 82.91% of the company’s stock.

Toast Price Performance

NYSE TOST opened at $23.35 on Wednesday. Toast, Inc. has a 1 year low of $22.26 and a 1 year high of $49.66. The company has a market capitalization of $12.05 billion, a PE ratio of 35.92 and a beta of 1.81. The company has a fifty day moving average of $26.45 and a two-hundred day moving average of $30.49.

Toast declared that its board has initiated a stock repurchase plan on Thursday, February 12th that authorizes the company to repurchase $0.00 in shares. This repurchase authorization authorizes the company to reacquire shares of its stock through open market purchases. Stock repurchase plans are usually a sign that the company’s board of directors believes its stock is undervalued.

Insider Buying and Selling

In other Toast news, General Counsel Brian R. Elworthy sold 3,664 shares of the company’s stock in a transaction on Thursday, April 2nd. The shares were sold at an average price of $26.19, for a total value of $95,960.16. Following the completion of the transaction, the general counsel owned 243,642 shares in the company, valued at $6,380,983.98. This represents a 1.48% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, CFO Elena Gomez sold 8,929 shares of the company’s stock in a transaction on Thursday, April 2nd. The shares were sold at an average price of $26.19, for a total transaction of $233,850.51. Following the completion of the transaction, the chief financial officer owned 173,064 shares of the company’s stock, valued at $4,532,546.16. This represents a 4.91% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders have sold a total of 39,783 shares of company stock valued at $1,041,917 over the last ninety days. Company insiders own 12.14% of the company’s stock.

Analyst Ratings Changes

A number of equities analysts recently commented on TOST shares. Truist Financial lowered their target price on shares of Toast from $36.00 to $30.00 and set a “buy” rating for the company in a research note on Tuesday, May 12th. Citigroup lowered their target price on shares of Toast from $42.00 to $36.00 and set a “buy” rating for the company in a research note on Friday, May 8th. Rothschild & Co Redburn reiterated a “neutral” rating and set a $35.00 target price on shares of Toast in a research note on Tuesday, May 12th. BMO Capital Markets started coverage on shares of Toast in a research note on Tuesday, April 21st. They set an “outperform” rating and a $35.00 target price for the company. Finally, Wells Fargo & Company lowered their target price on shares of Toast from $47.00 to $36.00 and set an “overweight” rating for the company in a research note on Friday, February 13th. One investment analyst has rated the stock with a Strong Buy rating, sixteen have issued a Buy rating and eight have given a Hold rating to the stock. Based on data from MarketBeat, Toast currently has an average rating of “Moderate Buy” and an average target price of $37.84.

Toast 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.