State of New Jersey Common Pension Fund D Has $5.33 Million Holdings in Toast, Inc. (NYSE:TOST)

State of New Jersey Common Pension Fund D increased its holdings in shares of Toast, Inc. (NYSE:TOST) by 8.5% in the 4th quarter, according to its most recent disclosure 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 as of its most recent SEC filing.

Other large investors have also added to or reduced their stakes in the company. FMR LLC raised its position in shares of Toast by 50.5% in the third quarter. FMR LLC now owns 24,449,743 shares of the company’s stock valued at $692,172,000 after purchasing an additional 8,205,053 shares during the period. ValueAct Holdings L.P. acquired a new stake in Toast during the third quarter worth about $438,301,000. State Street Corp boosted its stake in shares of Toast by 2.5% in the 3rd quarter. State Street Corp now owns 8,325,292 shares of the company’s stock valued at $235,689,000 after purchasing an additional 206,789 shares in the last quarter. Geode Capital Management LLC boosted its stake in shares of Toast by 2.3% in the 3rd quarter. Geode Capital Management LLC now owns 6,865,934 shares of the company’s stock valued at $193,992,000 after purchasing an additional 155,212 shares in the last quarter. Finally, Assenagon Asset Management S.A. boosted its stake in shares of Toast by 2,889.8% in the 3rd quarter. Assenagon Asset Management S.A. now owns 3,829,995 shares of the company’s stock valued at $108,427,000 after purchasing an additional 3,701,893 shares in the last quarter. Institutional investors and hedge funds own 82.91% of the company’s stock.

Insider Buying and Selling at Toast

In related news, CFO Elena Gomez sold 2,052 shares of the company’s stock in a transaction on Tuesday, February 4th. The stock was sold at an average price of $39.63, for a total transaction of $81,320.76. Following the completion of the sale, the chief financial officer now directly owns 160,498 shares in the company, valued at $6,360,535.74. This represents a 1.26 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this link. Also, Director Christopher P. Comparato sold 145,000 shares of the company’s stock in a transaction on Thursday, December 19th. The stock was sold at an average price of $36.04, for a total value of $5,225,800.00. Following the sale, the director now owns 182,451 shares of the company’s stock, valued at $6,575,534.04. This trade represents a 44.28 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 339,564 shares of company stock valued at $13,577,845 in the last quarter. 13.32% of the stock is owned by insiders.

Analyst Ratings Changes

A number of research analysts recently issued reports on the stock. BMO Capital Markets assumed coverage on shares of Toast in a report on Monday, January 6th. They issued an “outperform” rating and a $45.00 price objective for the company. Piper Sandler raised their price target on shares of Toast from $25.00 to $35.00 and gave the stock a “neutral” rating in a report on Monday, November 11th. Wedbush lifted their price objective on shares of Toast from $35.00 to $45.00 and gave the company an “outperform” rating in a research note on Friday, November 8th. Compass Point started coverage on shares of Toast in a research report on Wednesday, November 20th. They issued a “buy” rating and a $49.00 price target for the company. Finally, BNP Paribas downgraded shares of Toast from an “outperform” rating to a “neutral” rating and set a $37.00 price target for the company. in a research report on Wednesday, November 20th. One equities research analyst has rated the stock with a sell rating, twelve have given a hold rating and ten have assigned a buy rating to the company’s stock. According to MarketBeat, Toast presently 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 stock has a market capitalization of $18.89 billion, a price-to-earnings ratio of -308.48, a price-to-earnings-growth ratio of 2.17 and a beta of 1.98. Toast, Inc. has a 1 year low of $20.49 and a 1 year high of $44.12. The business’s 50 day simple moving average is $38.59 and its 200-day simple moving average is $33.30.

Toast (NYSE:TOST) last released its earnings results on Wednesday, February 19th. The company reported $0.05 earnings per share for the quarter, missing the consensus estimate of $0.06 by ($0.01). Toast had a negative net margin of 1.05% and a negative return on equity of 3.84%. On average, sell-side analysts expect that Toast, Inc. will post 0.03 earnings per share for the current year.

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.