Chicago Partners Investment Group LLC Lowers Holdings in Toast, Inc. (NYSE:TOST)

Chicago Partners Investment Group LLC trimmed its holdings in shares of Toast, Inc. (NYSE:TOST - Free Report) by 51.4% in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 13,198 shares of the company's stock after selling 13,949 shares during the period. Chicago Partners Investment Group LLC's holdings in Toast were worth $469,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also bought and sold shares of the company. Russell Investments Group Ltd. lifted its stake in shares of Toast by 77.8% in the 4th quarter. Russell Investments Group Ltd. now owns 135,365 shares of the company's stock valued at $4,934,000 after purchasing an additional 59,231 shares during the period. Cerity Partners LLC lifted its stake in shares of Toast by 3.4% in the 4th quarter. Cerity Partners LLC now owns 73,931 shares of the company's stock valued at $2,672,000 after purchasing an additional 2,405 shares during the period. Advisory Services Network LLC acquired a new position in shares of Toast in the 4th quarter valued at $202,000. Raymond James Financial Inc. purchased a new stake in Toast in the 4th quarter worth $21,465,000. Finally, Treasurer of the State of North Carolina increased its holdings in Toast by 5.5% in the 4th quarter. Treasurer of the State of North Carolina now owns 204,474 shares of the company's stock worth $7,453,000 after acquiring an additional 10,650 shares in the last quarter. 82.91% of the stock is currently owned by institutional investors and hedge funds.

Toast Price Performance

Shares of TOST traded up $0.26 during mid-day trading on Wednesday, reaching $44.33. The stock had a trading volume of 10,589,765 shares, compared to its average volume of 7,359,497. Toast, Inc. has a 52-week low of $22.91 and a 52-week high of $49.66. The business's fifty day moving average is $44.74 and its 200 day moving average is $40.04. The firm has a market cap of $22.61 billion, a price-to-earnings ratio of 130.38 and a beta of 2.01.

Toast (NYSE:TOST - Get Free Report) last announced its earnings results on Tuesday, August 5th. The company reported $0.13 earnings per share for the quarter, missing the consensus estimate of $0.23 by ($0.10). The company had revenue of $1.55 billion for the quarter, compared to analysts' expectations of $1.52 billion. Toast had a return on equity of 14.19% and a net margin of 4.07%. The company's quarterly revenue was up 24.8% compared to the same quarter last year. During the same period last year, the business earned $0.02 EPS. As a group, sell-side analysts anticipate that Toast, Inc. will post 0.39 EPS for the current fiscal year.

Insider Activity at Toast

In other Toast news, CFO Elena Gomez sold 34,170 shares of the stock in a transaction dated Wednesday, July 2nd. The shares were sold at an average price of $42.56, for a total transaction of $1,454,275.20. Following the completion of the transaction, the chief financial officer owned 139,357 shares of the company's stock, valued at $5,931,033.92. This trade represents a 19.69% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, Director Paul D. Bell sold 11,000 shares of the stock in a transaction dated Thursday, May 15th. The stock was sold at an average price of $45.13, for a total transaction of $496,430.00. Following the transaction, the director directly owned 229,680 shares of the company's stock, valued at approximately $10,365,458.40. This trade represents a 4.57% decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 404,054 shares of company stock valued at $17,300,366 over the last quarter. 12.14% of the stock is owned by insiders.

Analyst Upgrades and Downgrades

TOST has been the subject of several recent analyst reports. JPMorgan Chase & Co. boosted their price target on shares of Toast from $42.00 to $52.00 and gave the stock a "neutral" rating in a report on Wednesday, August 6th. Wells Fargo & Company initiated coverage on shares of Toast in a report on Wednesday, July 16th. They issued a "buy" rating for the company. Jefferies Financial Group boosted their price target on shares of Toast from $50.00 to $54.00 and gave the stock a "buy" rating in a report on Friday, July 18th. Deutsche Bank Aktiengesellschaft initiated coverage on shares of Toast in a report on Thursday, July 17th. They issued a "buy" rating and a $54.00 price target for the company. Finally, Canaccord Genuity Group boosted their price target on shares of Toast from $48.00 to $54.00 and gave the stock a "buy" rating in a report on Wednesday, August 6th. Eleven research analysts have rated the stock with a hold rating and sixteen have issued a buy rating to the company's stock. According to MarketBeat.com, the company currently has an average rating of "Moderate Buy" and a consensus price target of $45.54.

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.