Toast (NYSE:TOST) Reaches New 1-Year High – Here’s What Happened

Toast, Inc. (NYSE:TOST) shares reached a new 52-week high during trading on Monday . The company traded as high as $43.38 and last traded at $43.38, with a volume of 19412 shares trading hands. The stock had previously closed at $42.74.

Analysts Set New Price Targets

TOST has been the topic of several recent analyst reports. Morgan Stanley increased their price target on Toast from $30.00 to $33.00 and gave the stock an “overweight” rating in a report on Tuesday, October 22nd. Robert W. Baird lifted their target price on Toast from $30.00 to $38.00 and gave the stock a “neutral” rating in a research report on Friday, November 8th. JPMorgan Chase & Co. upped their price target on shares of Toast from $28.00 to $36.00 and gave the stock a “neutral” rating in a report on Friday, November 8th. Stephens raised their price target on shares of Toast from $28.00 to $30.00 and gave the stock an “equal weight” rating in a research note on Friday, October 18th. Finally, BNP Paribas downgraded shares of Toast from an “outperform” rating to a “neutral” rating and set a $37.00 target price on the stock. in a research note on Wednesday, November 20th. One equities research analyst has rated the stock with a sell rating, ten have given a hold rating and eleven have given a buy rating to the company. According to data from MarketBeat, the company currently has an average rating of “Hold” and a consensus target price of $33.86.

Toast Stock Up 0.5 %

The stock has a market capitalization of $20.36 billion, a PE ratio of -332.46, a PEG ratio of 54.47 and a beta of 1.74. The firm has a 50 day moving average price of $31.78 and a 200-day moving average price of $27.32.

Insider Buying and Selling at Toast

In related news, President Stephen Fredette sold 211,686 shares of Toast stock in a transaction that occurred on Tuesday, September 10th. The stock was sold at an average price of $23.57, for a total transaction of $4,989,439.02. Following the completion of the transaction, the president now directly owns 2,638,023 shares in the company, valued at approximately $62,178,202.11. This trade represents a 7.43 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CRO Jonathan Vassil sold 1,367 shares of the company’s stock in a transaction that occurred on Monday, November 4th. The stock was sold at an average price of $31.08, for a total value of $42,486.36. Following the completion of the sale, the executive now owns 39,834 shares in the company, valued at approximately $1,238,040.72. This represents a 3.32 % decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders sold 1,498,536 shares of company stock worth $43,997,467. Company insiders own 13.32% of the company’s stock.

Hedge Funds Weigh In On Toast

Several large investors have recently made changes to their positions in TOST. ValueAct Holdings L.P. purchased a new position in Toast in the third quarter valued at $438,301,000. FMR LLC increased its stake in shares of Toast by 50.5% in the 3rd 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 in the last quarter. Assenagon Asset Management S.A. raised its holdings in Toast by 2,889.8% in the 3rd quarter. Assenagon Asset Management S.A. now owns 3,829,995 shares of the company’s stock worth $108,427,000 after purchasing an additional 3,701,893 shares during the period. Marshall Wace LLP boosted its position in Toast by 175.8% during the second quarter. Marshall Wace LLP now owns 2,517,288 shares of the company’s stock worth $64,871,000 after purchasing an additional 1,604,716 shares in the last quarter. Finally, Worldquant Millennium Advisors LLC boosted its position in Toast by 1,475.0% during the third quarter. Worldquant Millennium Advisors LLC now owns 850,965 shares of the company’s stock worth $24,091,000 after purchasing an additional 796,936 shares in the last quarter. 82.91% of the stock is currently owned by institutional investors and hedge funds.

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.