Arizona State Retirement System Acquires 9,985 Shares of Toast, Inc. (NYSE:TOST)

Arizona State Retirement System grew its holdings in shares of Toast, Inc. (NYSE:TOST) by 9.6% during the fourth quarter, Holdings Channel.com reports. The institutional investor owned 113,813 shares of the company’s stock after purchasing an additional 9,985 shares during the quarter. Arizona State Retirement System’s holdings in Toast were worth $4,148,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also recently modified their holdings of the business. Aigen Investment Management LP bought a new position in shares of Toast during the 4th quarter worth approximately $375,000. M&T Bank Corp lifted its holdings in shares of Toast by 12.3% in the 4th quarter. M&T Bank Corp now owns 34,762 shares of the company’s stock worth $1,267,000 after purchasing an additional 3,807 shares in the last quarter. Atria Investments Inc bought a new position in shares of Toast in the 4th quarter worth $697,000. Victory Capital Management Inc. lifted its holdings in shares of Toast by 139.3% in the 4th quarter. Victory Capital Management Inc. now owns 118,839 shares of the company’s stock worth $4,332,000 after purchasing an additional 69,176 shares in the last quarter. Finally, Westover Capital Advisors LLC bought a new position in shares of Toast in the 4th quarter worth $212,000. 82.91% of the stock is currently owned by institutional investors.

Toast Price Performance

Shares of Toast stock opened at $34.77 on Friday. Toast, Inc. has a 1 year low of $21.32 and a 1 year high of $44.12. The firm has a market cap of $17.17 billion, a PE ratio of -3,473.03, a P/E/G ratio of 2.16 and a beta of 1.99. The stock has a fifty day moving average price of $38.36 and a 200-day moving average price of $34.29.

Toast (NYSE:TOST) last announced its earnings results on Wednesday, February 19th. The company reported $0.05 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.06 by ($0.01). Toast had a net margin of 0.40% and a return on equity of 1.54%. The business had revenue of $1.34 billion for the quarter, compared to analysts’ expectations of $1.32 billion. As a group, equities analysts anticipate that Toast, Inc. will post 0.39 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of brokerages recently issued reports on TOST. Wells Fargo & Company increased their target price on Toast from $25.00 to $30.00 and gave the stock an “underweight” rating in a report on Thursday, January 16th. Needham & Company LLC reiterated a “buy” rating and issued a $50.00 target price on shares of Toast in a report on Thursday, February 20th. Robert W. Baird increased their target price on Toast from $38.00 to $40.00 and gave the stock a “neutral” rating in a report on Thursday, February 20th. The Goldman Sachs Group set a $40.00 target price on Toast and gave the stock a “neutral” rating in a report on Wednesday, February 19th. Finally, Royal Bank of Canada increased their target price on Toast from $40.00 to $45.00 and gave the stock a “sector perform” rating in a report on Thursday, February 20th. One equities research analyst has rated the stock with a sell rating, twelve have issued a hold rating and nine have issued a buy rating to the company. According to data from MarketBeat.com, the company presently has a consensus rating of “Hold” and an average price target of $40.48.

Insider Activity

In other news, Director Christopher P. Comparato sold 145,000 shares of the stock in a transaction on Thursday, December 19th. The stock was sold at an average price of $36.04, for a total transaction of $5,225,800.00. Following the completion of the transaction, the director now owns 182,451 shares in the company, valued at approximately $6,575,534.04. This represents a 44.28 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, General Counsel Brian R. Elworthy sold 653 shares of the stock in a transaction on Tuesday, February 4th. The stock was sold at an average price of $39.63, for a total value of $25,878.39. Following the transaction, the general counsel now owns 209,206 shares of the company’s stock, valued at $8,290,833.78. The trade was a 0.31 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 149,779 shares of company stock valued at $5,415,192 in the last ninety days. 13.32% of the stock is currently owned by insiders.

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.