Toast, Inc. (NYSE:TOST – Get Free Report) was the target of some unusual options trading on Thursday. Stock investors acquired 28,790 call options on the stock. This represents an increase of 112% compared to the average volume of 13,561 call options.
Analysts Set New Price Targets
A number of research firms have recently commented on TOST. Canaccord Genuity Group lifted their target price on Toast from $43.00 to $48.00 and gave the stock a “buy” rating in a research note on Thursday, February 20th. JPMorgan Chase & Co. lifted their price objective on Toast from $36.00 to $42.00 and gave the stock a “neutral” rating in a report on Thursday, February 20th. Wells Fargo & Company lifted their price objective on Toast from $39.00 to $46.00 and gave the stock an “overweight” rating in a report on Friday, May 9th. Royal Bank of Canada lifted their price objective on Toast from $40.00 to $45.00 and gave the stock a “sector perform” rating in a report on Thursday, February 20th. Finally, Robert W. Baird lifted their price objective on Toast from $38.00 to $40.00 and gave the stock a “neutral” rating in a report on Thursday, February 20th. Twelve research analysts have rated the stock with a hold rating and thirteen have given a buy rating to the stock. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus target price of $41.21.
Get Our Latest Stock Analysis on Toast
Toast Stock Up 2.4%
Insider Buying and Selling at Toast
In other news, Director Christopher P. Comparato sold 70,000 shares of Toast stock in a transaction on Thursday, March 20th. The stock was sold at an average price of $35.71, for a total transaction of $2,499,700.00. Following the sale, the director now directly owns 164,796 shares in the company, valued at $5,884,865.16. The trade was a 29.81% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, Director Deval L. Patrick sold 34,222 shares of Toast stock in a transaction on Thursday, March 13th. The stock was sold at an average price of $33.01, for a total value of $1,129,668.22. Following the sale, the director now owns 13,260 shares in the company, valued at $437,712.60. The trade was a 72.07% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 646,651 shares of company stock worth $25,640,334. Corporate insiders own 13.32% of the company’s stock.
Institutional Inflows and Outflows
Hedge funds have recently added to or reduced their stakes in the stock. Blue Trust Inc. grew its holdings in shares of Toast by 120.4% during the fourth quarter. Blue Trust Inc. now owns 692 shares of the company’s stock worth $25,000 after purchasing an additional 378 shares in the last quarter. Stonebridge Financial Group LLC purchased a new position in shares of Toast during the fourth quarter worth about $34,000. Wayfinding Financial LLC purchased a new position in shares of Toast during the first quarter worth about $34,000. SBI Securities Co. Ltd. purchased a new position in shares of Toast during the fourth quarter worth about $35,000. Finally, Piscataqua Savings Bank grew its holdings in shares of Toast by 57.1% during the first quarter. Piscataqua Savings Bank now owns 1,100 shares of the company’s stock worth $36,000 after purchasing an additional 400 shares in the last quarter. Hedge funds and other institutional investors own 82.91% of the company’s stock.
Toast Company 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.
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