Toast Sees Unusually Large Options Volume (NYSE:TOST)

Toast, Inc. (NYSE:TOST) saw some unusual options trading activity on Friday. Investors bought 25,744 call options on the company. This represents an increase of 137% compared to the typical daily volume of 10,880 call options.

Insider Activity at Toast

In related news, CEO Aman Narang sold 10,106 shares of the company’s stock in a transaction that occurred on Wednesday, October 2nd. The shares were sold at an average price of $27.77, for a total transaction of $280,643.62. Following the sale, the chief executive officer now directly owns 968,095 shares in the company, valued at approximately $26,883,998.15. This represents a 0.00 % decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through this hyperlink. In related news, CEO Aman Narang sold 10,106 shares of the company’s stock in a transaction that occurred on Wednesday, October 2nd. The shares were sold at an average price of $27.77, for a total transaction of $280,643.62. Following the sale, the chief executive officer now directly owns 968,095 shares in the company, valued at approximately $26,883,998.15. This represents a 0.00 % decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, CFO Elena Gomez sold 1,917 shares of the company’s stock in a transaction that occurred on Monday, November 4th. The shares were sold at an average price of $31.08, for a total transaction of $59,580.36. Following the sale, the chief financial officer now owns 159,615 shares in the company, valued at $4,960,834.20. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 1,375,651 shares of company stock worth $38,150,212. 13.32% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On Toast

Several institutional investors and hedge funds have recently modified their holdings of the stock. West Branch Capital LLC purchased a new position in Toast during the 2nd quarter valued at about $26,000. LRI Investments LLC bought a new stake in Toast during the 1st quarter valued at about $27,000. Toth Financial Advisory Corp bought a new stake in Toast during the 3rd quarter valued at about $28,000. Thurston Springer Miller Herd & Titak Inc. bought a new stake in Toast during the 2nd quarter valued at about $33,000. Finally, 1620 Investment Advisors Inc. bought a new stake in Toast during the 2nd quarter valued at about $34,000. 82.91% of the stock is owned by hedge funds and other institutional investors.

Toast Trading Up 14.5 %

NYSE:TOST opened at $37.40 on Friday. The company has a 50-day moving average price of $28.19 and a 200-day moving average price of $25.97. Toast has a 12 month low of $13.77 and a 12 month high of $38.40. The stock has a market cap of $17.24 billion, a price-to-earnings ratio of -128.96 and a beta of 1.74.

Toast (NYSE:TOST) last posted its earnings results on Tuesday, August 6th. The company reported $0.02 EPS for the quarter, topping the consensus estimate of ($0.02) by $0.04. Toast had a negative net margin of 3.10% and a negative return on equity of 11.27%. The firm had revenue of $1.24 billion during the quarter, compared to analysts’ expectations of $1.22 billion. During the same period last year, the company posted ($0.19) EPS. The company’s quarterly revenue was up 27.0% compared to the same quarter last year. Equities analysts forecast that Toast will post -0.1 EPS for the current fiscal year.

Analysts Set New Price Targets

A number of analysts recently weighed in on TOST shares. The Goldman Sachs Group upped their target price on shares of Toast from $29.00 to $33.00 and gave the stock a “buy” rating in a report on Monday, October 14th. DA Davidson increased their price target on shares of Toast from $32.00 to $35.00 and gave the stock a “buy” rating in a report on Tuesday, October 29th. Needham & Company LLC reissued a “buy” rating and issued a $30.00 price target on shares of Toast in a report on Wednesday, August 7th. Robert W. Baird increased their price target on shares of Toast from $30.00 to $38.00 and gave the stock a “neutral” rating in a report on Friday. Finally, Bank of America increased their price target on shares of Toast from $26.00 to $28.00 and gave the stock a “neutral” rating in a report on Tuesday, September 17th. One analyst has rated the stock with a sell rating, nine have issued a hold rating and eleven have given a buy rating to the stock. According to MarketBeat.com, the company presently has an average rating of “Hold” and an average price target of $31.80.

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.