Toast (NYSE:TOST) Sets New 1-Year High – Time to Buy?

Toast, Inc. (NYSE:TOST) shares reached a new 52-week high during mid-day trading on Monday . The stock traded as high as $43.38 and last traded at $43.38, with a volume of 19412 shares changing hands. The stock had previously closed at $42.74.

Analyst Upgrades and Downgrades

TOST has been the subject of a number of research reports. Wedbush boosted their target price on shares of Toast from $35.00 to $45.00 and gave the stock an “outperform” rating in a research note on Friday, November 8th. Compass Point assumed coverage on Toast in a report on Wednesday, November 20th. They set a “buy” rating and a $49.00 target price for the company. Royal Bank of Canada lifted their price target on Toast from $27.00 to $40.00 and gave the stock a “sector perform” rating in a research note on Friday, November 8th. Wells Fargo & Company boosted their price target on Toast from $23.00 to $25.00 and gave the stock an “underweight” rating in a research report on Friday, November 8th. Finally, Bank of America raised their price objective on Toast from $26.00 to $28.00 and gave the company a “neutral” rating in a report on Tuesday, September 17th. One research analyst has rated the stock with a sell rating, ten have assigned a hold rating and eleven have assigned a buy rating to the company. According to MarketBeat.com, Toast has an average rating of “Hold” and a consensus target price of $33.86.

Toast Stock Up 0.6 %

The stock has a 50 day moving average price of $31.45 and a two-hundred day moving average price of $27.20.

Insider Buying and Selling at Toast

In related news, CEO Aman Narang sold 10,106 shares of Toast stock in a transaction 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 completion of the transaction, the chief executive officer now directly owns 968,095 shares in the company, valued at approximately $26,883,998.15. This trade represents a 1.03 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, Director Richard Kent Bennett sold 22,885 shares of the company’s stock in a transaction dated Wednesday, November 20th. The stock was sold at an average price of $41.96, for a total value of $960,254.60. Following the sale, the director now owns 395,706 shares in the company, valued at approximately $16,603,823.76. This trade represents a 5.47 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 1,498,536 shares of company stock valued at $43,997,467 in the last three months. 13.32% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On Toast

A number of institutional investors and hedge funds have recently made changes to their positions in the stock. West Branch Capital LLC acquired a new stake in Toast in the second quarter valued at approximately $26,000. LRI Investments LLC purchased a new stake in shares of Toast during the 1st quarter worth $27,000. Toth Financial Advisory Corp purchased a new stake in shares of Toast during the 3rd quarter worth $28,000. Thurston Springer Miller Herd & Titak Inc. acquired a new position in shares of Toast during the second quarter worth $33,000. Finally, 1620 Investment Advisors Inc. purchased a new position in Toast in the second quarter valued at $34,000. 82.91% of the stock is owned by institutional investors and hedge funds.

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.