Chicago Capital LLC Makes New $317,000 Investment in Toast, Inc. (NYSE:TOST)

Chicago Capital LLC purchased a new stake in shares of Toast, Inc. (NYSE:TOST) during the fourth quarter, Holdings Channel.com reports. The fund purchased 8,693 shares of the company’s stock, valued at approximately $317,000.

Other institutional investors and hedge funds also recently made changes to their positions in the company. ValueAct Holdings L.P. purchased a new stake in Toast during the third quarter valued at about $438,301,000. 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. Assenagon Asset Management S.A. lifted its stake in shares of Toast by 2,889.8% during 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 buying an additional 3,701,893 shares in the last quarter. Perpetual Ltd bought a new position in Toast in the 4th quarter worth approximately $60,878,000. Finally, Worldquant Millennium Advisors LLC grew its stake in Toast by 1,475.0% in the 3rd quarter. Worldquant Millennium Advisors LLC now owns 850,965 shares of the company’s stock valued at $24,091,000 after buying an additional 796,936 shares in the last quarter. Institutional investors own 82.91% of the company’s stock.

Analyst Ratings Changes

TOST has been the topic of several recent research reports. DA Davidson restated a “neutral” rating and set a $38.00 target price (down previously from $44.00) on shares of Toast in a research report on Thursday, December 5th. Wedbush increased their price objective on Toast from $35.00 to $45.00 and gave the stock an “outperform” rating in a report on Friday, November 8th. Royal Bank of Canada lifted their target price on Toast from $27.00 to $40.00 and gave the company a “sector perform” rating in a report on Friday, November 8th. Piper Sandler increased 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. Finally, BMO Capital Markets initiated coverage on shares of Toast in a research note on Monday, January 6th. They set an “outperform” rating and a $45.00 price objective for the company. One equities research analyst has rated the stock with a sell rating, twelve have assigned a hold rating and eleven have issued a buy rating to the company. According to MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus price target of $35.74.

Insider Transactions at Toast

In related news, Director Richard Kent Bennett sold 100,000 shares of the firm’s stock in a transaction that occurred on Tuesday, November 12th. The stock was sold at an average price of $36.67, for a total transaction of $3,667,000.00. Following the transaction, the director now directly owns 418,591 shares in the company, valued at $15,349,731.97. This trade represents a 19.28 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director David Yuan sold 189,785 shares of the business’s stock in a transaction that occurred on Monday, November 25th. The shares were sold at an average price of $43.01, for a total value of $8,162,652.85. Following the completion of the sale, the director now owns 198,829 shares of the company’s stock, valued at $8,551,635.29. The trade was a 48.84 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 557,670 shares of company stock worth $21,670,707. Company insiders own 13.32% of the company’s stock.

Toast Price Performance

Shares of TOST opened at $39.99 on Tuesday. Toast, Inc. has a 1 year low of $17.95 and a 1 year high of $44.12. The stock has a 50 day simple moving average of $38.57 and a two-hundred day simple moving average of $32.10. The firm has a market cap of $18.83 billion, a P/E ratio of -307.60, a P/E/G ratio of 2.18 and a beta of 1.98.

Toast (NYSE:TOST) last released its earnings results on Thursday, November 7th. The company reported $0.07 EPS for the quarter, beating the consensus estimate of $0.01 by $0.06. The company had revenue of $1.31 billion for the quarter, compared to analyst estimates of $1.29 billion. Toast had a negative net margin of 1.05% and a negative return on equity of 3.84%. During the same quarter last year, the firm earned ($0.09) EPS. On average, equities analysts anticipate 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.