Chicago Capital LLC Has $1.37 Million Stock Holdings in Toast, Inc. $TOST

Key Points

• Chicago Capital LLC increased its stake in Toast, Inc. by 93.9% during the second quarter, now holding 31,017 shares valued at approximately $1.37 million.
• Analysts have set new price targets for Toast, with Canaccord Genuity raising their target from $48.00 to $54.00 and Goldman Sachs increasing theirs from $45.00 to $51.00, reflecting positive investor sentiment.
• Toast, Inc. reported a revenue of $1.55 billion for the last quarter, marking a 24.8% year-over-year increase, although it missed EPS estimates by $0.10.

Chicago Capital LLC boosted its position in shares of Toast, Inc. (NYSE:TOST - Free Report) by 93.9% in the second quarter, according to the company in its most recent disclosure with the SEC. The firm owned 31,017 shares of the company's stock after purchasing an additional 15,018 shares during the quarter. Chicago Capital LLC's holdings in Toast were worth $1,374,000 as of its most recent SEC filing.

Other hedge funds also recently bought and sold shares of the company. IFM Investors Pty Ltd grew its holdings in shares of Toast by 29.2% in the 2nd quarter. IFM Investors Pty Ltd now owns 83,803 shares of the company's stock valued at $3,712,000 after buying an additional 18,950 shares during the period. Procyon Advisors LLC acquired a new position in Toast in the first quarter valued at about $242,000. Charles Schwab Investment Management Inc. increased its holdings in shares of Toast by 5.2% in the first quarter. Charles Schwab Investment Management Inc. now owns 3,092,210 shares of the company's stock worth $102,569,000 after acquiring an additional 153,723 shares in the last quarter. Wealth Enhancement Advisory Services LLC raised its position in shares of Toast by 19.5% during the fourth quarter. Wealth Enhancement Advisory Services LLC now owns 22,751 shares of the company's stock worth $829,000 after purchasing an additional 3,713 shares during the period. Finally, Yorktown Management & Research Co Inc bought a new position in shares of Toast during the 1st quarter valued at about $252,000. 82.91% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling

In related news, President Stephen Fredette sold 1,720 shares of the firm's stock in a transaction on Monday, August 4th. The shares were sold at an average price of $48.38, for a total value of $83,213.60. Following the completion of the transaction, the president directly owned 890,818 shares of the company's stock, valued at approximately $43,097,774.84. This trade represents a 0.19% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO Aman Narang sold 1,719 shares of the company's stock in a transaction on Monday, August 4th. The stock was sold at an average price of $48.38, for a total transaction of $83,165.22. Following the sale, the chief executive officer directly owned 304,300 shares in the company, valued at $14,722,034. This trade represents a 0.56% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 20,423 shares of company stock worth $913,065 in the last quarter. 12.14% of the stock is owned by company insiders.

Toast Price Performance

Shares of NYSE:TOST opened at $36.48 on Wednesday. The company's 50-day moving average price is $43.04 and its two-hundred day moving average price is $40.78. Toast, Inc. has a one year low of $26.91 and a one year high of $49.66. The stock has a market capitalization of $18.60 billion, a PE ratio of 107.29 and a beta of 2.00.

Toast (NYSE:TOST - Get Free Report) last released its earnings results on Tuesday, August 5th. The company reported $0.13 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $0.23 by ($0.10). Toast had a net margin of 4.07% and a return on equity of 14.19%. The company had revenue of $1.55 billion during the quarter, compared to analyst estimates of $1.52 billion. During the same period in the prior year, the firm posted $0.02 EPS. Toast's revenue was up 24.8% compared to the same quarter last year. On average, analysts anticipate that Toast, Inc. will post 0.39 earnings per share for the current fiscal year.

Analysts Set New Price Targets

TOST has been the subject of a number of research reports. Canaccord Genuity Group increased their target price on Toast from $48.00 to $54.00 and gave the stock a "buy" rating in a research note on Wednesday, August 6th. DA Davidson increased their price objective on shares of Toast from $40.00 to $46.00 and gave the stock a "neutral" rating in a research report on Tuesday, July 29th. Barclays restated an "overweight" rating on shares of Toast in a report on Wednesday, July 16th. The Goldman Sachs Group upped their target price on shares of Toast from $45.00 to $51.00 and gave the stock a "neutral" rating in a research note on Wednesday, August 6th. Finally, Keefe, Bruyette & Woods lifted their price target on Toast from $47.00 to $50.00 and gave the company a "market perform" rating in a research note on Wednesday, August 6th. Fifteen analysts have rated the stock with a Buy rating and ten have issued a Hold rating to the company's stock. According to MarketBeat.com, Toast presently has an average rating of "Moderate Buy" and a consensus target price of $46.65.

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.

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