Toast (NYSE:TOST) Rating Lowered to Hold at Wall Street Zen

Toast (NYSE:TOST - Get Free Report) was downgraded by equities researchers at Wall Street Zen from a "buy" rating to a "hold" rating in a research note issued to investors on Saturday.

Several other equities research analysts have also weighed in on the company. DA Davidson dropped their price target on Toast from $42.00 to $40.00 and set a "neutral" rating on the stock in a research report on Wednesday, April 30th. Truist Financial assumed coverage on Toast in a research report on Monday, June 2nd. They set a "buy" rating and a $48.00 price target on the stock. Wells Fargo & Company lifted their price target on Toast from $39.00 to $46.00 and gave the company an "overweight" rating in a research report on Friday, May 9th. Wolfe Research upgraded Toast from a "peer perform" rating to an "outperform" rating and set a $44.00 price target on the stock in a research report on Wednesday, April 23rd. Finally, The Goldman Sachs Group dropped their price target on Toast from $43.00 to $38.00 and set a "neutral" rating on the stock in a research report on Wednesday, April 2nd. Thirteen analysts have rated the stock with a hold rating and twelve have given a buy rating to the company. According to data from MarketBeat.com, the company has an average rating of "Hold" and a consensus target price of $41.21.

Toast Price Performance

TOST opened at $43.58 on Friday. The stock's 50 day simple moving average is $41.73 and its 200 day simple moving average is $38.37. Toast has a 1 year low of $22.10 and a 1 year high of $45.56. The firm has a market cap of $21.70 billion, a price-to-earnings ratio of 189.48 and a beta of 2.00.

Insider Activity

In other news, General Counsel Brian R. Elworthy sold 300,000 shares of the stock in a transaction on Monday, June 2nd. The stock was sold at an average price of $42.60, for a total transaction of $12,780,000.00. Following the completion of the sale, the general counsel owned 216,156 shares in the company, valued at approximately $9,208,245.60. This represents a 58.12% decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, Director Richard Kent Bennett sold 9,712 shares of the stock in a transaction on Tuesday, June 10th. The shares were sold at an average price of $43.14, for a total value of $418,975.68. Following the sale, the director owned 534,167 shares of the company's stock, valued at approximately $23,043,964.38. This represents a 1.79% decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 468,212 shares of company stock worth $19,551,906. Company insiders own 13.32% of the company's stock.

Institutional Trading of Toast

Several hedge funds and other institutional investors have recently made changes to their positions in TOST. Wayfinding Financial LLC purchased a new stake in shares of Toast during the 1st quarter valued at $34,000. SBI Securities Co. Ltd. purchased a new position in Toast in the 4th quarter worth $35,000. Piscataqua Savings Bank raised its stake in Toast by 57.1% in the 1st quarter. Piscataqua Savings Bank now owns 1,100 shares of the company's stock worth $36,000 after acquiring an additional 400 shares during the last quarter. West Branch Capital LLC raised its stake in Toast by 862.1% in the 1st quarter. West Branch Capital LLC now owns 1,116 shares of the company's stock worth $37,000 after acquiring an additional 1,000 shares during the last quarter. Finally, Signaturefd LLC raised its stake in Toast by 227.1% in the 1st quarter. Signaturefd LLC now owns 1,472 shares of the company's stock worth $49,000 after acquiring an additional 1,022 shares during the last quarter. Hedge funds and other institutional investors own 82.91% of the company's stock.

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.

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