The Goldman Sachs Group Reiterates “Neutral” Rating for Toast (NYSE:TOST)

Toast (NYSE:TOST)‘s stock had its “neutral” rating reiterated by equities researchers at The Goldman Sachs Group in a note issued to investors on Monday,Benzinga reports. They presently have a $45.00 price objective on the stock, up from their prior price objective of $34.00. The Goldman Sachs Group’s price objective indicates a potential upside of 3.35% from the stock’s previous close.

Other analysts have also recently issued research reports about the stock. Morgan Stanley raised their price objective on shares of Toast from $30.00 to $33.00 and gave the company an “overweight” rating in a research report on Tuesday, October 22nd. Wells Fargo & Company raised their price target on Toast from $23.00 to $25.00 and gave the company an “underweight” rating in a research report on Friday, November 8th. Royal Bank of Canada increased their price objective on Toast from $27.00 to $40.00 and gave the company a “sector perform” rating in a research report on Friday, November 8th. Deutsche Bank Aktiengesellschaft raised their price objective on Toast from $24.00 to $30.00 and gave the company a “hold” rating in a report on Monday, November 4th. Finally, Bank of America upped their target price on Toast from $26.00 to $28.00 and gave the stock a “neutral” rating in a research note on Tuesday, September 17th. One equities research analyst has rated the stock with a sell rating, eleven have assigned a hold rating and ten have assigned a buy rating to the company. Based on data from MarketBeat, Toast has a consensus rating of “Hold” and a consensus price target of $34.43.

Toast Trading Up 0.8 %

TOST stock opened at $43.54 on Monday. The company’s 50 day moving average is $33.09 and its 200 day moving average is $27.77. The stock has a market cap of $20.51 billion, a price-to-earnings ratio of -334.92, a price-to-earnings-growth ratio of 55.49 and a beta of 1.74. Toast has a 1-year low of $14.45 and a 1-year high of $44.12.

Insider Transactions at Toast

In related news, CRO Jonathan Vassil sold 1,367 shares of the firm’s stock in a transaction 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 sale, the executive now owns 39,834 shares of the company’s stock, valued at $1,238,040.72. This trade represents a 3.32 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, General Counsel Brian R. Elworthy sold 300,000 shares of the business’s stock in a transaction on Friday, October 18th. The shares were sold at an average price of $30.39, for a total transaction of $9,117,000.00. Following the transaction, the general counsel now directly owns 177,836 shares in the company, valued at approximately $5,404,436.04. The trade was a 62.78 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 1,688,321 shares of company stock worth $52,160,120. 13.32% of the stock is currently owned by insiders.

Institutional Trading of Toast

Several large investors have recently bought and sold shares of TOST. FMR LLC lifted its stake in shares of Toast by 50.5% in the 3rd quarter. FMR LLC now owns 24,449,743 shares of the company’s stock valued at $692,172,000 after purchasing an additional 8,205,053 shares during the period. ValueAct Holdings L.P. bought a new position in Toast in the third quarter worth $438,301,000. State Street Corp lifted its position in Toast by 2.5% during the third quarter. State Street Corp now owns 8,325,292 shares of the company’s stock valued at $235,689,000 after buying an additional 206,789 shares during the period. Geode Capital Management LLC boosted its holdings in shares of Toast by 2.3% during the 3rd quarter. Geode Capital Management LLC now owns 6,865,934 shares of the company’s stock valued at $193,992,000 after buying an additional 155,212 shares in the last quarter. Finally, Assenagon Asset Management S.A. grew its position in shares of Toast by 2,889.8% in the 3rd quarter. Assenagon Asset Management S.A. now owns 3,829,995 shares of the company’s stock worth $108,427,000 after buying an additional 3,701,893 shares during the period. 82.91% of the stock is owned by institutional investors.

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.