Toast (NYSE:TOST) Reaches New 12-Month High Following Analyst Upgrade

Shares of Toast, Inc. (NYSE:TOST) reached a new 52-week high during mid-day trading on Tuesday after Piper Sandler raised their price target on the stock from $25.00 to $35.00. Piper Sandler currently has a neutral rating on the stock. Toast traded as high as $38.87 and last traded at $38.85, with a volume of 1465149 shares. The stock had previously closed at $37.95.

TOST has been the subject of several other reports. Wells Fargo & Company upped their target price on Toast from $23.00 to $25.00 and gave the company an “underweight” rating in a report on Friday. JPMorgan Chase & Co. lifted their target price on shares of Toast from $28.00 to $36.00 and gave the stock a “neutral” rating in a research report on Friday. The Goldman Sachs Group raised their price objective on shares of Toast from $29.00 to $33.00 and gave the stock a “buy” rating in a research note on Monday, October 14th. Mizuho raised shares of Toast from a “neutral” rating to an “outperform” rating and boosted their target price for the company from $21.00 to $33.00 in a research note on Thursday, July 18th. Finally, Robert W. Baird upped their target price on Toast from $30.00 to $38.00 and gave the company a “neutral” rating in a report on Friday. 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 company. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average target price of $32.30.

Insider Activity

In related news, CEO Aman Narang sold 10,106 shares of the firm’s stock in a transaction that occurred on Wednesday, October 2nd. The stock was sold at an average price of $27.77, for a total transaction of $280,643.62. Following the completion of the sale, the chief executive officer now owns 968,095 shares of the company’s stock, valued at $26,883,998.15. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. In other Toast news, CEO Aman Narang sold 10,106 shares of the stock in a transaction that occurred on Wednesday, October 2nd. The stock was sold at an average price of $27.77, for a total value of $280,643.62. Following the transaction, the chief executive officer now owns 968,095 shares in the company, valued at approximately $26,883,998.15. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CRO Jonathan Vassil sold 1,367 shares of the 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 transaction, the executive now owns 39,834 shares in the company, valued at approximately $1,238,040.72. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders sold 1,375,651 shares of company stock valued at $38,150,212. Company insiders own 13.32% of the company’s stock.

Institutional Inflows and Outflows

A number of large investors have recently modified their holdings of the stock. Allspring Global Investments Holdings LLC increased its position in shares of Toast by 52.4% during the first quarter. Allspring Global Investments Holdings LLC now owns 3,910 shares of the company’s stock valued at $97,000 after acquiring an additional 1,345 shares during the last quarter. Empowered Funds LLC increased its position in shares of Toast by 16.0% during the first quarter. Empowered Funds LLC now owns 75,100 shares of the company’s stock valued at $1,871,000 after acquiring an additional 10,363 shares during the last quarter. Forsta AP Fonden purchased a new stake in shares of Toast during the first quarter valued at approximately $1,809,000. Sei Investments Co. increased its position in shares of Toast by 3.7% during the first quarter. Sei Investments Co. now owns 642,672 shares of the company’s stock valued at $16,015,000 after acquiring an additional 22,991 shares during the last quarter. Finally, Avantax Advisory Services Inc. purchased a new stake in shares of Toast during the first quarter valued at approximately $355,000. Institutional investors own 82.91% of the company’s stock.

Toast Stock Up 2.4 %

The company has a market capitalization of $17.91 billion, a PE ratio of -291.96 and a beta of 1.74. The stock has a 50-day moving average of $28.45 and a 200 day moving average of $26.11.

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.