New York State Common Retirement Fund Sells 36,015 Shares of Toast, Inc. (NYSE:TOST)

New York State Common Retirement Fund lowered its position in shares of Toast, Inc. (NYSE:TOST - Free Report) by 6.5% in the fourth quarter, according to the company in its most recent filing with the SEC. The firm owned 517,261 shares of the company's stock after selling 36,015 shares during the quarter. New York State Common Retirement Fund owned about 0.12% of Toast worth $9,445,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Vanguard Group Inc. lifted its holdings in shares of Toast by 11.1% in the 3rd quarter. Vanguard Group Inc. now owns 35,079,123 shares of the company's stock valued at $657,032,000 after buying an additional 3,494,579 shares during the period. Morgan Stanley increased its stake in Toast by 149.3% during the 3rd quarter. Morgan Stanley now owns 12,007,286 shares of the company's stock worth $224,896,000 after buying an additional 7,191,595 shares in the last quarter. Abdiel Capital Advisors LP boosted its holdings in shares of Toast by 0.8% during the 3rd quarter. Abdiel Capital Advisors LP now owns 10,876,373 shares of the company's stock worth $203,714,000 after purchasing an additional 86,536 shares during the last quarter. Sumitomo Mitsui Trust Holdings Inc. boosted its holdings in shares of Toast by 69.6% during the 4th quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 6,600,377 shares of the company's stock worth $120,523,000 after purchasing an additional 2,708,597 shares during the last quarter. Finally, Eventide Asset Management LLC boosted its holdings in shares of Toast by 82.4% during the 3rd quarter. Eventide Asset Management LLC now owns 2,926,074 shares of the company's stock worth $54,805,000 after purchasing an additional 1,322,208 shares during the last quarter. Institutional investors and hedge funds own 82.91% of the company's stock.

Toast Price Performance

Shares of NYSE:TOST traded up $0.38 during trading on Thursday, reaching $23.38. 6,302,484 shares of the company's stock traded hands, compared to its average volume of 7,977,586. Toast, Inc. has a 12 month low of $13.77 and a 12 month high of $27.00. The company has a 50 day moving average of $23.47 and a 200-day moving average of $19.36. The stock has a market capitalization of $10.55 billion, a P/E ratio of -44.71 and a beta of 1.76.

Toast (NYSE:TOST - Get Free Report) last released its earnings results on Thursday, February 15th. The company reported ($0.07) EPS for the quarter, beating the consensus estimate of ($0.11) by $0.04. Toast had a negative net margin of 6.36% and a negative return on equity of 21.77%. The business had revenue of $1.04 billion during the quarter, compared to analyst estimates of $1.02 billion. During the same period in the prior year, the business earned ($0.19) earnings per share. The business's quarterly revenue was up 34.7% on a year-over-year basis. Equities research analysts predict that Toast, Inc. will post -0.22 earnings per share for the current fiscal year.

Insider Activity

In other news, President Stephen Fredette sold 2,272 shares of the business's stock in a transaction that occurred on Tuesday, April 2nd. The shares were sold at an average price of $23.40, for a total transaction of $53,164.80. Following the sale, the president now owns 2,835,759 shares in the company, valued at $66,356,760.60. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. In other news, President Stephen Fredette sold 2,272 shares of the business's stock in a transaction on Tuesday, April 2nd. The shares were sold at an average price of $23.40, for a total value of $53,164.80. Following the sale, the president now owns 2,835,759 shares of the company's stock, valued at $66,356,760.60. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, CRO Jonathan Vassil sold 100,000 shares of the company's stock in a transaction on Wednesday, March 13th. The stock was sold at an average price of $25.24, for a total transaction of $2,524,000.00. Following the sale, the executive now directly owns 22,956 shares in the company, valued at $579,409.44. The disclosure for this sale can be found here. Insiders have sold 189,586 shares of company stock worth $4,531,074 over the last 90 days. 13.70% of the stock is owned by company insiders.

Wall Street Analysts Forecast Growth

TOST has been the topic of several recent research reports. Redburn Atlantic upgraded Toast from a "neutral" rating to a "buy" rating and set a $28.00 target price on the stock in a report on Wednesday, February 7th. Keefe, Bruyette & Woods initiated coverage on Toast in a research note on Tuesday, April 9th. They set a "market perform" rating and a $25.00 price target on the stock. Mizuho reaffirmed a "neutral" rating and set a $17.00 price objective on shares of Toast in a research report on Wednesday, March 27th. UBS Group lifted their target price on shares of Toast from $22.00 to $31.00 and gave the stock a "buy" rating in a research note on Thursday, March 28th. Finally, Wells Fargo & Company lifted their target price on shares of Toast from $15.00 to $17.00 and gave the stock an "underweight" rating in a research note on Friday, April 12th. One analyst has rated the stock with a sell rating, eight have issued a hold rating and nine have issued a buy rating to the stock. According to data from MarketBeat, the stock currently has an average rating of "Hold" and a consensus price target of $24.32.

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.