Toast (NYSE:TOST) Hits New 1-Year High After Analyst Upgrade

Toast, Inc. (NYSE:TOST) shares reached a new 52-week high during mid-day trading on Tuesday after DA Davidson raised their price target on the stock from $35.00 to $44.00. DA Davidson currently has a buy rating on the stock. Toast traded as high as $38.87 and last traded at $38.85, with a volume of 1465149 shares changing hands. The stock had previously closed at $37.95.

TOST has been the subject of several other research reports. Mizuho raised Toast from a “neutral” rating to an “outperform” rating and boosted their price objective for the stock from $21.00 to $33.00 in a research report on Thursday, July 18th. Bank of America lifted their price objective on Toast from $26.00 to $28.00 and gave the company a “neutral” rating in a report on Tuesday, September 17th. The Goldman Sachs Group increased their target price on shares of Toast from $29.00 to $33.00 and gave the stock a “buy” rating in a research report on Monday, October 14th. Wells Fargo & Company raised their price objective on shares of Toast from $23.00 to $25.00 and gave the company an “underweight” rating in a research report on Friday, November 8th. Finally, JPMorgan Chase & Co. upped their price target on Toast from $28.00 to $36.00 and gave the company a “neutral” rating in a research note on Friday, November 8th. One investment analyst has rated the stock with a sell rating, nine have issued a hold rating and eleven have issued a buy rating to the stock. According to data from MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus price target of $32.75.

Insider Activity at Toast

In other news, President Stephen Fredette sold 211,686 shares of the stock in a transaction that occurred on Tuesday, September 10th. The stock was sold at an average price of $23.57, for a total value of $4,989,439.02. Following the completion of the transaction, the president now owns 2,638,023 shares of the company’s stock, valued at approximately $62,178,202.11. This represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. In other news, President Stephen Fredette sold 211,686 shares of the stock in a transaction on Tuesday, September 10th. The stock was sold at an average price of $23.57, for a total value of $4,989,439.02. Following the sale, the president now directly owns 2,638,023 shares of the company’s stock, valued at approximately $62,178,202.11. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, CRO Jonathan Vassil sold 100,000 shares of the stock in a transaction dated Friday, November 8th. The shares were sold at an average price of $36.55, for a total transaction of $3,655,000.00. Following the sale, the executive now directly owns 39,834 shares in the company, valued at $1,455,932.70. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 1,475,651 shares of company stock worth $41,805,212 over the last quarter. 13.32% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

Institutional investors have recently bought and sold shares of the company. Capital International Investors grew its position in shares of Toast by 12.2% during the 1st quarter. Capital International Investors now owns 32,924,082 shares of the company’s stock valued at $820,468,000 after acquiring an additional 3,574,397 shares during the period. Price T Rowe Associates Inc. MD raised its position in Toast by 21.4% in the 1st quarter. Price T Rowe Associates Inc. MD now owns 19,524,700 shares of the company’s stock worth $486,557,000 after purchasing an additional 3,445,788 shares during the period. Champlain Investment Partners LLC grew its holdings in shares of Toast by 9.1% in the first quarter. Champlain Investment Partners LLC now owns 9,976,356 shares of the company’s stock worth $248,611,000 after purchasing an additional 833,390 shares during the last quarter. Whale Rock Capital Management LLC purchased a new position in shares of Toast during the first quarter worth approximately $179,111,000. Finally, Meritage Group LP raised its position in Toast by 37.3% during the 1st quarter. Meritage Group LP now owns 5,284,811 shares of the company’s stock valued at $131,697,000 after purchasing an additional 1,436,494 shares in the last quarter. Institutional investors own 82.91% of the company’s stock.

Toast Stock Up 3.9 %

The stock’s 50 day moving average is $28.76 and its two-hundred day moving average is $26.22. The company has a market capitalization of $18.17 billion, a PE ratio of -303.23 and a beta of 1.74.

About Toast

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.