Public Employees Retirement System of Ohio Has $3.50 Million Holdings in Toast, Inc. (NYSE:TOST)

Public Employees Retirement System of Ohio lessened its stake in Toast, Inc. (NYSE:TOST) by 5.3% in the first quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 140,544 shares of the company’s stock after selling 7,827 shares during the quarter. Public Employees Retirement System of Ohio’s holdings in Toast were worth $3,502,000 as of its most recent SEC filing.

Several other hedge funds have also recently added to or reduced their stakes in TOST. Vanguard Group Inc. raised its position in shares of Toast by 4.6% in the 4th quarter. Vanguard Group Inc. now owns 36,677,371 shares of the company’s stock valued at $669,729,000 after acquiring an additional 1,598,248 shares during the period. Capital International Investors raised its holdings in Toast by 12.2% in the first quarter. Capital International Investors now owns 32,924,082 shares of the company’s stock worth $820,468,000 after purchasing an additional 3,574,397 shares during the period. Price T Rowe Associates Inc. MD boosted its position in shares of Toast by 21.4% during the first quarter. Price T Rowe Associates Inc. MD now owns 19,524,700 shares of the company’s stock worth $486,557,000 after purchasing an additional 3,445,788 shares in the last quarter. Abdiel Capital Advisors LP boosted its position in shares of Toast by 0.3% during the fourth quarter. Abdiel Capital Advisors LP now owns 10,913,464 shares of the company’s stock worth $199,280,000 after purchasing an additional 37,091 shares in the last quarter. Finally, Champlain Investment Partners LLC grew its holdings in shares of Toast by 9.1% in the 1st quarter. Champlain Investment Partners LLC now owns 9,976,356 shares of the company’s stock valued at $248,611,000 after buying an additional 833,390 shares during the period. Institutional investors and hedge funds own 82.91% of the company’s stock.

Toast Stock Performance

Shares of NYSE:TOST opened at $25.25 on Friday. Toast, Inc. has a 52-week low of $13.77 and a 52-week high of $27.90. The company has a market capitalization of $11.44 billion, a P/E ratio of -50.50 and a beta of 1.76. The company has a 50-day simple moving average of $24.84 and a 200 day simple moving average of $23.30.

Toast (NYSE:TOST) last posted its earnings results on Tuesday, May 7th. The company reported ($0.15) earnings per share for the quarter, hitting analysts’ consensus estimates of ($0.15). Toast had a negative return on equity of 21.45% and a negative net margin of 6.02%. The business had revenue of $1.08 billion for the quarter, compared to analyst estimates of $1.04 billion. During the same period in the previous year, the firm earned ($0.16) EPS. The firm’s revenue was up 31.3% compared to the same quarter last year. As a group, equities analysts forecast that Toast, Inc. will post -0.14 earnings per share for the current year.

Insider Transactions at Toast

In other news, Director Christopher P. Comparato sold 90,000 shares of the stock in a transaction that occurred on Wednesday, July 17th. The stock was sold at an average price of $26.54, for a total transaction of $2,388,600.00. Following the transaction, the director now owns 112,282 shares in the company, valued at $2,979,964.28. The sale was disclosed in a filing with the SEC, which is available through the SEC website. In other Toast news, Director Christopher P. Comparato sold 90,000 shares of the stock in a transaction that occurred on Wednesday, July 17th. The shares were sold at an average price of $26.54, for a total transaction of $2,388,600.00. Following the transaction, the director now owns 112,282 shares in the company, valued at approximately $2,979,964.28. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, President Stephen Fredette sold 3,810 shares of Toast stock in a transaction that occurred on Tuesday, July 2nd. The shares were sold at an average price of $25.64, for a total transaction of $97,688.40. Following the completion of the sale, the president now owns 2,847,315 shares of the company’s stock, valued at $73,005,156.60. The disclosure for this sale can be found here. In the last 90 days, insiders sold 364,304 shares of company stock worth $9,314,205. 13.32% of the stock is owned by insiders.

Analyst Upgrades and Downgrades

TOST has been the topic of several recent analyst reports. Canaccord Genuity Group lifted their target price on Toast from $22.00 to $28.00 and gave the stock a “buy” rating in a report on Wednesday, May 8th. The Goldman Sachs Group increased their target price on Toast from $26.00 to $29.00 and gave the stock a “buy” rating in a research note on Monday, April 15th. Stephens reaffirmed an “equal weight” rating and issued a $28.00 price target on shares of Toast in a research note on Thursday, May 30th. Baird R W downgraded shares of Toast from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, May 21st. Finally, Wedbush reaffirmed an “outperform” rating and issued a $30.00 price objective on shares of Toast in a research report on Thursday, May 30th. One research analyst has rated the stock with a sell rating, nine have assigned a hold rating and ten have given a buy rating to the stock. According to data from MarketBeat, Toast has an average rating of “Hold” and an average target price of $26.65.

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.