Toast, Inc. (NYSE:TOST) Receives Average Rating of “Hold” from Brokerages

Shares of Toast, Inc. (NYSE:TOST) have received a consensus rating of “Hold” from the twenty-one ratings firms that are covering the company, MarketBeat.com reports. One equities research analyst has rated the stock with a sell recommendation, nine have given a hold recommendation and eleven have assigned a buy recommendation to the company. The average 1 year price objective among brokerages that have issued a report on the stock in the last year is $32.75.

TOST has been the topic of a number of research reports. Needham & Company LLC restated a “buy” rating and issued a $30.00 price target on shares of Toast in a report on Wednesday, August 7th. Stephens boosted their price objective on shares of Toast from $28.00 to $30.00 and gave the stock an “equal weight” rating in a research report on Friday, October 18th. Wedbush raised their target price on shares of Toast from $35.00 to $45.00 and gave the company an “outperform” rating in a report on Friday, November 8th. Wells Fargo & Company upped their price target on shares of Toast from $23.00 to $25.00 and gave the company an “underweight” rating in a report on Friday, November 8th. Finally, Morgan Stanley raised their price objective on shares of Toast from $30.00 to $33.00 and gave the stock an “overweight” rating in a research note on Tuesday, October 22nd.

Toast Price Performance

TOST opened at $40.61 on Friday. Toast has a 12 month low of $13.77 and a 12 month high of $41.05. The stock has a market capitalization of $19.12 billion, a P/E ratio of -312.35 and a beta of 1.74. The business has a 50 day simple moving average of $29.75 and a 200-day simple moving average of $26.53.

Insider Buying and Selling

In other news, President Stephen Fredette sold 211,686 shares of the company’s stock in a transaction dated 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 sale, the president now owns 2,638,023 shares of the company’s stock, valued at $62,178,202.11. This represents a 7.43 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CRO Jonathan Vassil sold 1,367 shares of the 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 $42,486.36. Following the completion of the sale, the executive now directly owns 39,834 shares of the company’s stock, valued at $1,238,040.72. This trade represents a 3.32 % decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 1,575,651 shares of company stock valued at $45,472,212. 13.32% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On Toast

Several institutional investors and hedge funds have recently made changes to their positions in the business. D.A. Davidson & CO. boosted its holdings in Toast by 1.9% in the third quarter. D.A. Davidson & CO. now owns 22,100 shares of the company’s stock worth $626,000 after purchasing an additional 409 shares during the period. Northwestern Mutual Wealth Management Co. lifted its holdings in Toast by 1.2% in the second quarter. Northwestern Mutual Wealth Management Co. now owns 35,968 shares of the company’s stock worth $927,000 after purchasing an additional 421 shares during the period. Private Advisor Group LLC lifted its stake in shares of Toast by 1.6% in the 3rd quarter. Private Advisor Group LLC now owns 28,151 shares of the company’s stock worth $797,000 after acquiring an additional 441 shares during the period. CIBC Asset Management Inc boosted its stake in Toast by 3.7% during the 3rd quarter. CIBC Asset Management Inc now owns 12,614 shares of the company’s stock valued at $357,000 after purchasing an additional 448 shares in the last quarter. Finally, Farther Finance Advisors LLC boosted its stake in Toast by 32.3% during the third quarter. Farther Finance Advisors LLC now owns 2,033 shares of the company’s stock valued at $58,000 after buying an additional 496 shares in the last quarter. 82.91% of the stock is currently owned by hedge funds and other institutional investors.

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.