58,449 Shares in Toast, Inc. (NYSE:TOST) Acquired by Teacher Retirement System of Texas

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

Other hedge funds have also made changes to their positions in the company. Piscataqua Savings Bank raised its stake in shares of Toast by 57.1% in the first quarter. Piscataqua Savings Bank now owns 1,100 shares of the company's stock valued at $36,000 after acquiring an additional 400 shares in the last quarter. West Branch Capital LLC raised its holdings in Toast by 862.1% in the first quarter. West Branch Capital LLC now owns 1,116 shares of the company's stock valued at $37,000 after acquiring an additional 1,000 shares in the last quarter. Proathlete Wealth Management LLC acquired a new stake in Toast in the first quarter valued at approximately $50,000. LRI Investments LLC raised its holdings in Toast by 51.6% in the fourth quarter. LRI Investments LLC now owns 1,516 shares of the company's stock valued at $55,000 after acquiring an additional 516 shares in the last quarter. Finally, Roxbury Financial LLC acquired a new stake in Toast in the first quarter valued at approximately $68,000. Institutional investors and hedge funds own 82.91% of the company's stock.

Analysts Set New Price Targets

TOST has been the topic of a number of analyst reports. DA Davidson cut their price target on Toast from $42.00 to $40.00 and set a "neutral" rating on the stock in a research note on Wednesday, April 30th. Morgan Stanley raised their price target on Toast from $46.00 to $50.00 and gave the company an "overweight" rating in a research note on Friday, May 9th. The Goldman Sachs Group cut their price objective on shares of Toast from $43.00 to $38.00 and set a "neutral" rating on the stock in a report on Wednesday, April 2nd. Evercore ISI began coverage on shares of Toast in a report on Wednesday, April 9th. They set an "in-line" rating and a $29.00 price objective on the stock. Finally, BMO Capital Markets raised their price objective on shares of Toast from $44.00 to $45.00 and gave the stock an "outperform" rating in a report on Monday, May 12th. Thirteen investment analysts have rated the stock with a hold rating and twelve have issued a buy rating to the stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of "Hold" and a consensus price target of $41.21.

Toast Trading Down 1.9%

Shares of NYSE:TOST traded down $0.86 on Friday, reaching $43.40. 6,307,710 shares of the company were exchanged, compared to its average volume of 6,789,957. Toast, Inc. has a 1-year low of $22.10 and a 1-year high of $46.57. The firm has a market cap of $21.61 billion, a price-to-earnings ratio of 188.70 and a beta of 2.00. The company has a 50-day moving average of $42.42 and a 200-day moving average of $38.58.

Insider Buying and Selling at Toast

In related news, Director Christopher P. Comparato sold 70,000 shares of the company's stock in a transaction that occurred on Wednesday, May 14th. The stock was sold at an average price of $44.74, for a total value of $3,131,800.00. Following the sale, the director owned 187,140 shares in the company, valued at $8,372,643.60. This represents a 27.22% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, CEO Aman Narang sold 13,829 shares of the company's stock in a transaction that occurred on Wednesday, July 2nd. The stock was sold at an average price of $42.59, for a total value of $588,977.11. Following the completion of the sale, the chief executive officer owned 302,498 shares in the company, valued at approximately $12,883,389.82. This represents a 4.37% decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 536,131 shares of company stock worth $22,443,551. Company insiders own 13.32% of the company's stock.

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.