Toast (NYSE:TOST) Receives “Neutral” Rating from DA Davidson

DA Davidson restated their neutral rating on shares of Toast (NYSE:TOST) in a report published on Thursday, Marketbeat reports. The firm currently has a $38.00 price objective on the stock, down from their previous price objective of $44.00.

Other equities research analysts have also issued research reports about the company. Robert W. Baird increased their price target on Toast from $30.00 to $38.00 and gave the stock a “neutral” rating in a research note on Friday, November 8th. Wells Fargo & Company increased their price objective on shares of Toast from $23.00 to $25.00 and gave the company an “underweight” rating in a report on Friday, November 8th. BNP Paribas downgraded shares of Toast from an “outperform” rating to a “neutral” rating and set a $37.00 price objective for the company. in a report on Wednesday, November 20th. Royal Bank of Canada increased their price objective on shares of Toast from $27.00 to $40.00 and gave the company a “sector perform” rating in a report on Friday, November 8th. Finally, Compass Point started coverage on shares of Toast in a report on Wednesday, November 20th. They set a “buy” rating and a $49.00 price objective for the company. One equities research analyst has rated the stock with a sell rating, twelve have assigned a hold rating and nine have issued a buy rating to the stock. According to data from MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus price target of $34.14.

Toast Stock Performance

Shares of TOST stock opened at $38.01 on Thursday. Toast has a 52-week low of $14.45 and a 52-week high of $44.12. The firm has a market capitalization of $17.90 billion, a PE ratio of -292.38, a PEG ratio of 54.06 and a beta of 1.93. The stock has a fifty day simple moving average of $34.11 and a two-hundred day simple moving average of $28.13.

Insiders Place Their Bets

In other news, President Stephen Fredette sold 211,686 shares of the firm’s stock in a transaction that occurred on Tuesday, September 10th. The shares were sold at an average price of $23.57, for a total transaction of $4,989,439.02. Following the transaction, the president now directly owns 2,638,023 shares of the company’s stock, valued at approximately $62,178,202.11. This trade represents a 7.43 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, CRO Jonathan Vassil sold 1,367 shares of the firm’s stock in a transaction that occurred on Monday, November 4th. The stock was sold at an average price of $31.08, for a total transaction of $42,486.36. Following the transaction, the executive now directly owns 39,834 shares in the company, valued at approximately $1,238,040.72. This trade represents a 3.32 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 1,688,321 shares of company stock valued at $52,160,120 over the last 90 days. Insiders own 13.32% of the company’s stock.

Hedge Funds Weigh In On Toast

Institutional investors have recently modified their holdings of the stock. ValueAct Holdings L.P. purchased a new position in Toast during the third quarter valued at approximately $438,301,000. FMR LLC increased its holdings in Toast by 50.5% during the third quarter. FMR LLC now owns 24,449,743 shares of the company’s stock valued at $692,172,000 after buying an additional 8,205,053 shares during the period. Assenagon Asset Management S.A. increased its holdings in Toast by 2,889.8% during the third quarter. Assenagon Asset Management S.A. now owns 3,829,995 shares of the company’s stock valued at $108,427,000 after buying an additional 3,701,893 shares during the period. Marshall Wace LLP increased its holdings in Toast by 175.8% during the second quarter. Marshall Wace LLP now owns 2,517,288 shares of the company’s stock valued at $64,871,000 after buying an additional 1,604,716 shares during the period. Finally, Worldquant Millennium Advisors LLC boosted its stake in Toast by 1,475.0% in the third quarter. Worldquant Millennium Advisors LLC now owns 850,965 shares of the company’s stock valued at $24,091,000 after acquiring an additional 796,936 shares in the last quarter. 82.91% of the stock is 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.