Public Employees Retirement System of Ohio Decreases Stake in Toast, Inc. (NYSE:TOST)

Public Employees Retirement System of Ohio lessened its stake in shares of Toast, Inc. (NYSE:TOST) by 4.6% in the third quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 161,702 shares of the company’s stock after selling 7,815 shares during the quarter. Public Employees Retirement System of Ohio’s holdings in Toast were worth $4,578,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently made changes to their positions in TOST. Nomura Asset Management Co. Ltd. raised its holdings in Toast by 17.1% during the 3rd quarter. Nomura Asset Management Co. Ltd. now owns 102,800 shares of the company’s stock valued at $2,910,000 after buying an additional 15,000 shares during the last quarter. Y Intercept Hong Kong Ltd purchased a new position in shares of Toast in the third quarter valued at about $3,283,000. MML Investors Services LLC raised its stake in shares of Toast by 40.6% during the third 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. ValueAct Holdings L.P. purchased a new stake in shares of Toast during the third quarter worth about $438,301,000. Finally, Kensington Investment Counsel LLC grew its stake in shares of Toast by 10.2% in the third quarter. Kensington Investment Counsel LLC now owns 9,145 shares of the company’s stock worth $259,000 after purchasing an additional 848 shares during the last quarter. Institutional investors own 82.91% of the company’s stock.

Toast Stock Performance

Shares of TOST stock opened at $38.13 on Friday. The company has a market capitalization of $17.96 billion, a price-to-earnings ratio of -293.31, a price-to-earnings-growth ratio of 23.40 and a beta of 1.93. Toast, Inc. has a one year low of $16.13 and a one year high of $44.12. The company’s 50-day moving average is $35.36 and its 200 day moving average is $28.67.

Analysts Set New Price Targets

A number of research firms have commented on TOST. Deutsche Bank Aktiengesellschaft upped their price target on Toast from $24.00 to $30.00 and gave the company a “hold” rating in a research report on Monday, November 4th. Stephens raised their price target on Toast from $28.00 to $30.00 and gave the stock an “equal weight” rating in a research note on Friday, October 18th. Piper Sandler boosted their price objective on shares of Toast from $25.00 to $35.00 and gave the company a “neutral” rating in a research report on Monday, November 11th. BNP Paribas lowered shares of Toast from an “outperform” rating to a “neutral” rating and set a $37.00 price objective for the company. in a report on Wednesday, November 20th. Finally, Morgan Stanley lifted their target price on shares of Toast from $30.00 to $33.00 and gave the company an “overweight” rating in a research note on Tuesday, October 22nd. One 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. According to data from MarketBeat.com, Toast presently has an average rating of “Hold” and an average price target of $34.81.

Insider Activity

In other news, Director David Yuan sold 189,785 shares of the business’s stock in a transaction on Monday, November 25th. The stock was sold at an average price of $43.01, for a total value of $8,162,652.85. Following the completion of the transaction, the director now owns 198,829 shares in the company, valued at $8,551,635.29. The trade was a 48.84 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, President Stephen Fredette sold 8,057 shares of the company’s stock in a transaction on Monday, September 23rd. The shares were sold at an average price of $28.02, for a total value of $225,757.14. Following the transaction, the president now directly owns 2,152,442 shares in the company, valued at approximately $60,311,424.84. The trade was a 0.37 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 1,375,061 shares of company stock worth $44,557,182 over the last 90 days. 13.32% of the stock is currently owned by insiders.

Toast Company Profile

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.