Arizona State Retirement System Increases Position in Toast, Inc. (NYSE:TOST)

Arizona State Retirement System raised its position in shares of Toast, Inc. (NYSE:TOST - Free Report) by 9.6% during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 113,813 shares of the company's stock after acquiring an additional 9,985 shares during the period. Arizona State Retirement System's holdings in Toast were worth $4,148,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Makena Capital Management LLC raised its stake in Toast by 7.6% during the third quarter. Makena Capital Management LLC now owns 274,392 shares of the company's stock valued at $7,768,000 after purchasing an additional 19,371 shares in the last quarter. KBC Group NV increased its holdings in shares of Toast by 66.5% in the 3rd quarter. KBC Group NV now owns 42,838 shares of the company's stock worth $1,213,000 after buying an additional 17,106 shares during the last quarter. Geode Capital Management LLC raised its position in shares of Toast by 2.3% during the 3rd quarter. Geode Capital Management LLC now owns 6,865,934 shares of the company's stock valued at $193,992,000 after buying an additional 155,212 shares in the last quarter. MML Investors Services LLC lifted its holdings in shares of Toast by 40.6% in the 3rd quarter. MML Investors Services LLC now owns 228,313 shares of the company's stock valued at $6,464,000 after acquiring an additional 65,957 shares during the last quarter. Finally, Charles Schwab Investment Management Inc. grew its position in Toast by 5.6% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 2,938,487 shares of the company's stock worth $107,108,000 after acquiring an additional 155,446 shares in the last quarter. 82.91% of the stock is currently owned by institutional investors.

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Toast Price Performance

Shares of TOST stock traded up $1.22 during mid-day trading on Wednesday, hitting $34.67. The stock had a trading volume of 4,305,587 shares, compared to its average volume of 6,628,143. The firm's 50-day moving average is $38.23 and its two-hundred day moving average is $34.57. Toast, Inc. has a 12-month low of $21.32 and a 12-month high of $44.12. The firm has a market capitalization of $17.13 billion, a P/E ratio of -3,463.74, a price-to-earnings-growth ratio of 2.16 and a beta of 1.99.

Toast (NYSE:TOST - Get Free Report) last issued its quarterly earnings data on Wednesday, February 19th. The company reported $0.05 EPS for the quarter, missing analysts' consensus estimates of $0.06 by ($0.01). Toast had a return on equity of 1.54% and a net margin of 0.40%. The business had revenue of $1.34 billion during the quarter, compared to the consensus estimate of $1.32 billion. Analysts expect that Toast, Inc. will post 0.39 EPS for the current year.

Insider Activity at Toast

In other Toast news, General Counsel Brian R. Elworthy sold 653 shares of the firm's stock in a transaction that occurred on Tuesday, February 4th. The shares were sold at an average price of $39.63, for a total value of $25,878.39. Following the completion of the sale, the general counsel now directly owns 209,206 shares in the company, valued at $8,290,833.78. This trade represents a 0.31 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, President Stephen Fredette sold 1,068 shares of Toast stock in a transaction on Tuesday, February 4th. The stock was sold at an average price of $39.63, for a total transaction of $42,324.84. Following the completion of the transaction, the president now directly owns 1,644,656 shares in the company, valued at $65,177,717.28. This represents a 0.06 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 220,119 shares of company stock valued at $7,797,608 over the last quarter. 13.32% of the stock is owned by corporate insiders.

Analyst Ratings Changes

A number of equities research analysts have issued reports on TOST shares. Wells Fargo & Company upped their price objective on Toast from $25.00 to $30.00 and gave the company an "underweight" rating in a research report on Thursday, January 16th. Keefe, Bruyette & Woods increased their price target on Toast from $40.00 to $42.00 and gave the company a "market perform" rating in a report on Thursday, February 20th. Compass Point assumed coverage on Toast in a research report on Wednesday, November 20th. They issued a "buy" rating and a $49.00 price target for the company. BNP Paribas set a $37.00 price objective on shares of Toast and gave the company a "neutral" rating in a research report on Wednesday, February 19th. Finally, Oppenheimer started coverage on shares of Toast in a report on Friday, January 24th. They issued an "outperform" rating and a $46.00 target price for the company. One equities research analyst has rated the stock with a sell rating, twelve have assigned a hold rating and nine have assigned a buy rating to the stock. Based on data from MarketBeat.com, the stock presently has an average rating of "Hold" and a consensus price target of $40.48.

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.