Toast, Inc. (NYSE:TOST – Get Free Report) has been given an average recommendation of “Hold” by the twenty-two analysts that are currently covering the firm, MarketBeat reports. One investment analyst has rated the stock with a sell recommendation, ten have assigned a hold recommendation and eleven have given a buy recommendation to the company. The average 12 month price target among analysts that have covered the stock in the last year is $33.86.
Several research firms have recently commented on TOST. JPMorgan Chase & Co. lifted their price target on shares of Toast from $28.00 to $36.00 and gave the company a “neutral” rating in a report on Friday, November 8th. Wells Fargo & Company lifted 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. Stephens lifted their price target on shares of Toast from $28.00 to $30.00 and gave the company an “equal weight” rating in a report on Friday, October 18th. Piper Sandler lifted their price target on shares of Toast from $25.00 to $35.00 and gave the company a “neutral” rating in a report on Monday, November 11th. Finally, DA Davidson lifted their price target on shares of Toast from $35.00 to $44.00 and gave the company a “buy” rating in a report on Tuesday, November 12th.
Read Our Latest Stock Report on TOST
Toast Stock Up 0.8 %
Insider Transactions at Toast
In other news, General Counsel Brian R. Elworthy sold 300,000 shares of the business’s stock in a transaction that occurred 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 sale, the general counsel now owns 177,836 shares in the company, valued at $5,404,436.04. The trade was a 62.78 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO Aman Narang sold 10,106 shares of the business’s stock in a transaction that occurred on Wednesday, October 2nd. The shares were sold at an average price of $27.77, for a total transaction of $280,643.62. Following the sale, the chief executive officer now owns 968,095 shares in the company, valued at $26,883,998.15. This represents a 1.03 % decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders sold 1,498,536 shares of company stock valued at $43,997,467. Company insiders own 13.32% of the company’s stock.
Institutional Investors Weigh In On Toast
A number of large investors have recently made changes to their positions in TOST. ValueAct Holdings L.P. acquired a new stake in shares of Toast during the third quarter valued at approximately $438,301,000. FMR LLC increased its stake in 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 buying an additional 8,205,053 shares during the period. Whale Rock Capital Management LLC acquired a new position in Toast in the 1st quarter valued at approximately $179,111,000. Assenagon Asset Management S.A. increased its stake in 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 valued at $108,427,000 after buying an additional 3,701,893 shares during the period. Finally, Capital International Investors increased its stake in Toast by 12.2% in the 1st quarter. Capital International Investors now owns 32,924,082 shares of the company’s stock valued at $820,468,000 after buying an additional 3,574,397 shares during the period. Institutional investors and hedge funds own 82.91% of the company’s stock.
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.
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