Teacher Retirement System of Texas Invests $1.94 Million in Toast, Inc. (NYSE:TOST)

Teacher Retirement System of Texas acquired a new position in shares of Toast, Inc. (NYSE:TOST - Free Report) during the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor acquired 58,449 shares of the company's stock, valued at approximately $1,939,000.

A number of other institutional investors and hedge funds also recently made changes to their positions in the stock. Kampmann Melissa S. boosted its position in shares of Toast by 1.2% during the 1st quarter. Kampmann Melissa S. now owns 50,345 shares of the company's stock worth $1,670,000 after purchasing an additional 575 shares in the last quarter. Taylor Frigon Capital Management LLC boosted its position in shares of Toast by 49.9% during the 1st quarter. Taylor Frigon Capital Management LLC now owns 60,655 shares of the company's stock worth $2,012,000 after purchasing an additional 20,198 shares in the last quarter. Amalgamated Bank boosted its position in shares of Toast by 7.0% during the 1st quarter. Amalgamated Bank now owns 32,900 shares of the company's stock worth $1,091,000 after purchasing an additional 2,154 shares in the last quarter. Sumitomo Mitsui Trust Group Inc. boosted its position in shares of Toast by 2.9% during the 1st quarter. Sumitomo Mitsui Trust Group Inc. now owns 5,755,872 shares of the company's stock worth $190,922,000 after purchasing an additional 160,088 shares in the last quarter. Finally, Allspring Global Investments Holdings LLC boosted its position in shares of Toast by 3.0% during the 1st quarter. Allspring Global Investments Holdings LLC now owns 2,137,169 shares of the company's stock worth $73,219,000 after purchasing an additional 62,883 shares in the last quarter. Institutional investors own 82.91% of the company's stock.

Analyst Upgrades and Downgrades

TOST has been the topic of a number of research analyst reports. Wolfe Research raised shares of Toast from a "peer perform" rating to an "outperform" rating and set a $44.00 price objective on the stock in a research report on Wednesday, April 23rd. Evercore ISI assumed coverage on shares of Toast in a research report on Wednesday, April 9th. They issued an "in-line" rating and a $29.00 price target on the stock. Wells Fargo & Company raised their price target on shares of Toast from $39.00 to $46.00 and gave the company an "overweight" rating in a research report on Friday, May 9th. Morgan Stanley raised their price target on shares of Toast from $46.00 to $50.00 and gave the company an "overweight" rating in a research report on Friday, May 9th. Finally, Truist Financial assumed coverage on shares of Toast in a research report on Monday, June 2nd. They issued a "buy" rating and a $48.00 price target on the stock. Thirteen equities research analysts have rated the stock with a hold rating and twelve have issued a buy rating to the company's stock. Based on data from MarketBeat, Toast presently has a consensus rating of "Hold" and a consensus price target of $41.21.

Toast Trading Up 2.5%

Shares of NYSE:TOST traded up $1.09 during mid-day trading on Monday, reaching $44.48. The company had a trading volume of 6,854,027 shares, compared to its average volume of 6,804,402. The firm has a market cap of $22.15 billion, a price-to-earnings ratio of 193.37 and a beta of 2.00. The company's 50-day moving average price is $42.57 and its 200-day moving average price is $38.62. Toast, Inc. has a one year low of $22.10 and a one year high of $46.57.

Insider Buying and Selling

In related news, General Counsel Brian R. Elworthy sold 5,681 shares of Toast stock in a transaction that occurred on Wednesday, July 2nd. The shares were sold at an average price of $42.59, for a total value of $241,953.79. Following the sale, the general counsel owned 221,767 shares of the company's stock, valued at approximately $9,445,056.53. The trade was a 2.50% decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, CEO Aman Narang sold 13,829 shares of Toast stock in a transaction that occurred on Wednesday, July 2nd. The stock was sold at an average price of $42.59, for a total transaction of $588,977.11. Following the completion of the sale, the chief executive officer directly owned 302,498 shares in the company, valued at $12,883,389.82. This trade represents a 4.37% decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 536,131 shares of company stock worth $22,443,551 in the last three months. 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.