State of New Jersey Common Pension Fund D Increases Stock Holdings in Toast, Inc. (NYSE:TOST)

State of New Jersey Common Pension Fund D raised its stake in Toast, Inc. (NYSE:TOST) by 8.5% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 146,122 shares of the company’s stock after purchasing an additional 11,399 shares during the quarter. State of New Jersey Common Pension Fund D’s holdings in Toast were worth $5,326,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors also recently modified their holdings of the company. Principal Securities Inc. boosted its stake in shares of Toast by 48.4% in the fourth quarter. Principal Securities Inc. now owns 1,769 shares of the company’s stock valued at $64,000 after buying an additional 577 shares in the last quarter. Manchester Capital Management LLC boosted its stake in shares of Toast by 14,488.9% in the fourth quarter. Manchester Capital Management LLC now owns 1,313 shares of the company’s stock valued at $48,000 after buying an additional 1,304 shares in the last quarter. Kessler Investment Group LLC purchased a new stake in shares of Toast in the fourth quarter valued at approximately $4,120,000. Rhumbline Advisers boosted its stake in shares of Toast by 0.7% in the fourth quarter. Rhumbline Advisers now owns 582,626 shares of the company’s stock valued at $21,237,000 after buying an additional 4,084 shares in the last quarter. Finally, Blue Trust Inc. boosted its stake in shares of Toast by 120.4% in the fourth quarter. Blue Trust Inc. now owns 692 shares of the company’s stock valued at $25,000 after buying an additional 378 shares in the last quarter. 82.91% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Several equities analysts recently issued reports on the company. Compass Point assumed coverage on Toast in a report on Wednesday, November 20th. They set a “buy” rating and a $49.00 price objective for the company. BNP Paribas cut 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. BMO Capital Markets assumed coverage on Toast in a report on Monday, January 6th. They set an “outperform” rating and a $45.00 price objective for the company. Keefe, Bruyette & Woods lifted their price objective on Toast from $29.00 to $40.00 and gave the stock a “market perform” rating in a report on Monday, December 9th. Finally, The Goldman Sachs Group reduced their price objective on Toast from $45.00 to $40.00 and set a “neutral” rating for the company in a report on Friday, January 10th. One research analyst has rated the stock with a sell rating, twelve have issued a hold rating and ten have assigned a buy rating to the company. Based on data from MarketBeat.com, the stock has a consensus rating of “Hold” and an average price target of $36.09.

Toast Price Performance

Shares of TOST opened at $40.10 on Thursday. The company has a market capitalization of $18.89 billion, a PE ratio of -308.48, a price-to-earnings-growth ratio of 2.17 and a beta of 1.98. Toast, Inc. has a one year low of $20.49 and a one year high of $44.12. The company’s fifty day moving average price is $38.59 and its 200 day moving average price is $33.30.

Toast (NYSE:TOST) last posted its quarterly 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 negative return on equity of 3.84% and a negative net margin of 1.05%. Analysts anticipate that Toast, Inc. will post 0.03 earnings per share for the current year.

Insider Activity

In other Toast news, General Counsel Brian R. Elworthy sold 653 shares of the business’s stock in a transaction dated 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 transaction, the general counsel now directly owns 209,206 shares of the company’s stock, valued at approximately $8,290,833.78. The trade was a 0.31 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, Director David Yuan sold 189,785 shares of the business’s stock in a transaction that occurred on Monday, November 25th. The stock was sold at an average price of $43.01, for a total transaction of $8,162,652.85. Following the sale, the director now directly owns 198,829 shares of the company’s stock, valued at approximately $8,551,635.29. This trade represents a 48.84 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 339,564 shares of company stock worth $13,577,845. Corporate insiders own 13.32% of the company’s stock.

Toast 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.