Toast (NYSE:TOST) Sets New 12-Month High - Here's What Happened

Shares of Toast, Inc. (NYSE:TOST - Get Free Report) reached a new 52-week high on Thursday . The stock traded as high as $48.41 and last traded at $47.90, with a volume of 1924021 shares. The stock had previously closed at $47.43.

Analysts Set New Price Targets

A number of equities analysts recently weighed in on TOST shares. The Goldman Sachs Group dropped their target price on shares of Toast from $43.00 to $38.00 and set a "neutral" rating for the company in a research report on Wednesday, April 2nd. Morgan Stanley raised their price objective on Toast from $46.00 to $50.00 and gave the company an "overweight" rating in a research report on Friday, May 9th. Citigroup reiterated a "buy" rating on shares of Toast in a research report on Wednesday, July 16th. Wall Street Zen lowered Toast from a "buy" rating to a "hold" rating in a research note on Saturday, July 5th. Finally, Wells Fargo & Company initiated coverage on Toast in a research note on Wednesday, July 16th. They issued a "buy" rating on the stock. Twelve research analysts have rated the stock with a hold rating and fifteen have assigned a buy rating to the company's stock. According to data from MarketBeat, Toast presently has a consensus rating of "Moderate Buy" and a consensus target price of $43.17.

Toast Price Performance

The firm has a market capitalization of $23.94 billion, a P/E ratio of 209.22 and a beta of 2.00. The firm has a 50-day moving average price of $43.64 and a two-hundred day moving average price of $39.11.

Insider Activity at Toast

In other Toast news, CRO Jonathan Vassil sold 6,592 shares of the company's stock in a transaction dated Wednesday, July 2nd. The shares were sold at an average price of $42.59, for a total value of $280,753.28. Following the transaction, the executive directly owned 61,791 shares in the company, valued at $2,631,678.69. This represents a 9.64% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, General Counsel Brian R. Elworthy sold 5,681 shares of the stock in a transaction that occurred on Wednesday, July 2nd. The stock was sold at an average price of $42.59, for a total value of $241,953.79. Following the completion of the transaction, the general counsel directly owned 221,767 shares in the company, valued at approximately $9,445,056.53. This trade represents a 2.50% decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 466,131 shares of company stock worth $20,048,851 over the last ninety days. 13.32% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On Toast

Institutional investors have recently bought and sold shares of the business. Vanguard Group Inc. lifted its holdings in shares of Toast by 3.5% during the 1st quarter. Vanguard Group Inc. now owns 43,945,584 shares of the company's stock valued at $1,457,675,000 after purchasing an additional 1,471,352 shares during the last quarter. Capital International Investors raised its stake in Toast by 1.9% in the fourth quarter. Capital International Investors now owns 41,961,233 shares of the company's stock valued at $1,529,657,000 after buying an additional 785,641 shares during the last quarter. FMR LLC boosted its holdings in Toast by 22.1% in the fourth quarter. FMR LLC now owns 29,853,639 shares of the company's stock worth $1,088,165,000 after acquiring an additional 5,403,896 shares in the last quarter. Price T Rowe Associates Inc. MD grew its stake in shares of Toast by 17.5% during the first quarter. Price T Rowe Associates Inc. MD now owns 23,454,209 shares of the company's stock worth $777,978,000 after acquiring an additional 3,490,686 shares during the last quarter. Finally, T. Rowe Price Investment Management Inc. increased its holdings in shares of Toast by 7.5% during the first quarter. T. Rowe Price Investment Management Inc. now owns 15,520,360 shares of the company's stock valued at $514,811,000 after acquiring an additional 1,082,958 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.

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