Toast (NYSE:TOST) Sets New 12-Month High - Time to Buy?

Shares of Toast, Inc. (NYSE:TOST - Get Free Report) reached a new 52-week high during trading on Tuesday . The stock traded as high as $46.57 and last traded at $44.78, with a volume of 3356081 shares. The stock had previously closed at $44.83.

Wall Street Analysts Forecast Growth

Several research firms recently commented on TOST. Wells Fargo & Company raised their price target on shares of Toast from $39.00 to $46.00 and gave the stock an "overweight" rating in a research note on Friday, May 9th. Piper Sandler lifted their target price on shares of Toast from $35.00 to $37.00 and gave the stock a "neutral" rating in a research note on Friday, May 9th. Wall Street Zen lowered shares of Toast from a "buy" rating to a "hold" rating in a research report on Saturday. Truist Financial assumed coverage on shares of Toast in a research report on Monday, June 2nd. They set a "buy" rating and a $48.00 price target for the company. Finally, Morgan Stanley lifted their target price on shares of Toast from $46.00 to $50.00 and gave the company an "overweight" rating in a report on Friday, May 9th. Thirteen investment analysts have rated the stock with a hold rating and twelve have given a buy rating to the company. Based on data from MarketBeat, the stock presently has an average rating of "Hold" and a consensus price target of $41.21.

Toast Trading Down 3.6%

The firm has a 50-day simple moving average of $41.91 and a two-hundred day simple moving average of $38.45. The company has a market capitalization of $21.52 billion, a price-to-earnings ratio of 188.46 and a beta of 2.00.

Insider Activity at Toast

In other Toast 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 transaction, the general counsel directly owned 216,156 shares in the company, valued at $9,208,245.60. This represents a 58.12% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, CEO Aman Narang sold 13,829 shares of the firm's stock in a transaction on Wednesday, July 2nd. The shares were sold at an average price of $42.59, for a total value of $588,977.11. Following the completion of the sale, the chief executive officer owned 302,498 shares of the company's stock, valued at approximately $12,883,389.82. This trade represents a 4.37% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders sold 536,131 shares of company stock valued at $22,443,551. 13.32% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On Toast

Several hedge funds have recently added to or reduced their stakes in the company. Parallel Advisors LLC boosted its holdings in Toast by 110.2% during the second quarter. Parallel Advisors LLC now owns 5,658 shares of the company's stock worth $251,000 after buying an additional 2,966 shares during the last quarter. Garde Capital Inc. boosted its holdings in Toast by 9.6% during the second quarter. Garde Capital Inc. now owns 4,179 shares of the company's stock worth $185,000 after buying an additional 367 shares during the last quarter. Harbor Investment Advisory LLC boosted its holdings in Toast by 1,352.0% during the second quarter. Harbor Investment Advisory LLC now owns 10,890 shares of the company's stock worth $482,000 after buying an additional 10,140 shares during the last quarter. AG2R LA Mondiale Gestion D Actifs bought a new position in Toast during the first quarter worth about $798,000. Finally, Swedbank AB boosted its holdings in Toast by 523.4% during the first quarter. Swedbank AB now owns 51,864 shares of the company's stock worth $1,720,000 after buying an additional 43,545 shares during the last quarter. 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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