Caisse DE Depot ET Placement DU Quebec Boosts Position in Toast, Inc. (NYSE:TOST)

Caisse DE Depot ET Placement DU Quebec increased its holdings in Toast, Inc. (NYSE:TOST) by 6,278.6% in the third quarter, HoldingsChannel.com reports. The fund owned 710,061 shares of the company’s stock after acquiring an additional 698,929 shares during the period. Caisse DE Depot ET Placement DU Quebec’s holdings in Toast were worth $20,102,000 at the end of the most recent quarter.

Several other large investors have also added to or reduced their stakes in TOST. Makena Capital Management LLC lifted its position in shares of Toast by 7.6% in the 3rd quarter. Makena Capital Management LLC now owns 274,392 shares of the company’s stock worth $7,768,000 after purchasing an additional 19,371 shares during the period. KBC Group NV raised its stake in Toast by 66.5% in the third quarter. KBC Group NV now owns 42,838 shares of the company’s stock worth $1,213,000 after buying an additional 17,106 shares in the last quarter. Qsemble Capital Management LP raised its stake in Toast by 52.1% in the third quarter. Qsemble Capital Management LP now owns 67,796 shares of the company’s stock worth $1,919,000 after buying an additional 23,231 shares in the last quarter. Stephens Investment Management Group LLC lifted its holdings in Toast by 13.1% in the third quarter. Stephens Investment Management Group LLC now owns 1,884,771 shares of the company’s stock worth $53,358,000 after buying an additional 218,959 shares during the period. Finally, Entropy Technologies LP bought a new stake in Toast during the 3rd quarter valued at approximately $894,000. Institutional investors own 82.91% of the company’s stock.

Toast Stock Performance

NYSE TOST opened at $43.54 on Monday. The company has a market capitalization of $20.51 billion, a price-to-earnings ratio of -334.92, a PEG ratio of 55.49 and a beta of 1.74. The stock has a 50-day moving average of $33.09 and a 200 day moving average of $27.77. Toast, Inc. has a one year low of $14.45 and a one year high of $44.12.

Wall Street Analysts Forecast Growth

Several research analysts have recently issued reports on the company. Deutsche Bank Aktiengesellschaft increased their target price on Toast from $24.00 to $30.00 and gave the stock a “hold” rating in a research report on Monday, November 4th. DA Davidson increased their price objective on Toast from $35.00 to $44.00 and gave the stock a “buy” rating in a report on Tuesday, November 12th. Wells Fargo & Company boosted their target price on shares of Toast from $23.00 to $25.00 and gave the company an “underweight” rating in a report on Friday, November 8th. Wedbush increased their price target on shares of Toast from $35.00 to $45.00 and gave the stock an “outperform” rating in a research note on Friday, November 8th. Finally, Piper Sandler boosted their price objective on shares of Toast from $25.00 to $35.00 and gave the stock a “neutral” rating in a research note on Monday, November 11th. One equities research analyst has rated the stock with a sell rating, ten have assigned a hold rating and eleven have assigned a buy rating to the company’s stock. According to MarketBeat, Toast currently has a consensus rating of “Hold” and a consensus target price of $33.86.

Insider Transactions at Toast

In other news, CEO Aman Narang sold 10,106 shares of the firm’s stock in a transaction on Wednesday, October 2nd. The stock was sold at an average price of $27.77, for a total value of $280,643.62. Following the transaction, the chief executive officer now directly owns 968,095 shares in the company, valued at $26,883,998.15. This trade represents a 1.03 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at this link. Also, Director David Yuan sold 189,785 shares of the stock in a transaction dated 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 transaction, the director now directly owns 198,829 shares in the company, valued at approximately $8,551,635.29. This represents a 48.84 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 1,688,321 shares of company stock worth $52,160,120 over the last three months. 13.32% of the stock is currently owned by company insiders.

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.