Toast Target of Unusually High Options Trading (NYSE:TOST)

Toast, Inc. (NYSE:TOST) was the target of some unusual options trading on Tuesday. Traders purchased 23,712 call options on the stock. This is an increase of 28% compared to the typical volume of 18,455 call options.

Insider Activity

In related news, CRO Jonathan Vassil sold 50,000 shares of the stock in a transaction on Monday, April 15th. The stock was sold at an average price of $22.90, for a total transaction of $1,145,000.00. Following the sale, the executive now owns 25,422 shares in the company, valued at approximately $582,163.80. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. In related news, CRO Jonathan Vassil sold 50,000 shares of Toast stock in a transaction dated Monday, April 15th. The shares were sold at an average price of $22.90, for a total transaction of $1,145,000.00. Following the completion of the transaction, the executive now directly owns 25,422 shares of the company’s stock, valued at approximately $582,163.80. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, CEO Aman Narang sold 2,471 shares of the company’s stock in a transaction dated Tuesday, April 2nd. The shares were sold at an average price of $23.40, for a total transaction of $57,821.40. Following the transaction, the chief executive officer now owns 1,114,454 shares in the company, valued at $26,078,223.60. The disclosure for this sale can be found here. Insiders sold 142,223 shares of company stock valued at $3,458,694 in the last ninety days. Insiders own 13.32% of the company’s stock.

Institutional Investors Weigh In On Toast

Hedge funds and other institutional investors have recently bought and sold shares of the company. LRI Investments LLC acquired a new stake in Toast in the first quarter worth about $27,000. Principal Securities Inc. purchased a new position in shares of Toast in the 4th quarter valued at approximately $30,000. Cape Investment Advisory Inc. acquired a new stake in Toast in the 4th quarter worth approximately $31,000. SRS Capital Advisors Inc. purchased a new stake in Toast during the 3rd quarter worth approximately $33,000. Finally, Harbor Investment Advisory LLC acquired a new position in Toast during the 1st quarter valued at approximately $37,000. Hedge funds and other institutional investors own 82.91% of the company’s stock.

Analyst Ratings Changes

A number of research firms recently issued reports on TOST. The Goldman Sachs Group boosted their price objective on Toast from $26.00 to $29.00 and gave the company a “buy” rating in a report on Monday, April 15th. Needham & Company LLC reiterated a “buy” rating and set a $30.00 target price on shares of Toast in a research report on Thursday, May 30th. Robert W. Baird cut shares of Toast from an “outperform” rating to a “neutral” rating and set a $28.00 price target on the stock. in a report on Tuesday, May 21st. Canaccord Genuity Group lifted their price objective on shares of Toast from $22.00 to $28.00 and gave the company a “buy” rating in a report on Wednesday, May 8th. Finally, Piper Sandler boosted their price objective on shares of Toast from $20.00 to $25.00 and gave the company a “neutral” rating in a research report on Thursday, May 9th. One research analyst has rated the stock with a sell rating, ten have assigned a hold rating and ten have assigned a buy rating to the stock. According to data from MarketBeat, the company currently has an average rating of “Hold” and a consensus price target of $26.14.

Toast Price Performance

TOST opened at $24.02 on Wednesday. Toast has a 12 month low of $13.77 and a 12 month high of $27.90. The stock has a fifty day moving average price of $24.09 and a 200-day moving average price of $21.51.

Toast (NYSE:TOST) last posted its earnings results on Tuesday, May 7th. The company reported ($0.15) earnings per share (EPS) for the quarter, meeting the consensus estimate of ($0.15). The company had revenue of $1.08 billion for the quarter, compared to analyst estimates of $1.04 billion. Toast had a negative return on equity of 21.45% and a negative net margin of 6.02%. The firm’s quarterly revenue was up 31.3% compared to the same quarter last year. During the same quarter in the previous year, the firm earned ($0.16) earnings per share. Analysts expect that Toast will post -0.14 earnings per share for the current year.

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.