Toast Sees Unusually Large Options Volume (NYSE:TOST)

Toast, Inc. (NYSE:TOST - Get Free Report) saw some unusual options trading on Thursday. Stock investors bought 28,790 call options on the company. This represents an increase of 112% compared to the typical daily volume of 13,561 call options.

Insider Activity

In related news, Director Paul D. Bell sold 11,000 shares of the company's stock in a transaction dated Thursday, May 15th. The stock was sold at an average price of $45.13, for a total transaction of $496,430.00. Following the sale, the director now owns 229,680 shares in the company, valued at approximately $10,365,458.40. This represents a 4.57% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, General Counsel Brian R. Elworthy sold 300,000 shares of the company's stock in a transaction dated Monday, June 2nd. The stock was sold at an average price of $42.60, for a total value of $12,780,000.00. Following the sale, the general counsel now owns 216,156 shares in the company, valued at $9,208,245.60. The trade was a 58.12% decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 646,651 shares of company stock worth $25,640,334 over the last three months. Corporate insiders own 13.32% of the company's stock.

Institutional Trading of Toast

Several hedge funds and other institutional investors have recently bought and sold shares of the business. Cim LLC acquired a new stake in Toast in the 1st quarter worth about $1,261,000. Strs Ohio acquired a new stake in Toast in the 1st quarter worth about $920,000. IFM Investors Pty Ltd grew its position in Toast by 1.5% during the first quarter. IFM Investors Pty Ltd now owns 64,853 shares of the company's stock worth $2,151,000 after buying an additional 948 shares in the last quarter. Intech Investment Management LLC grew its position in Toast by 547.7% during the first quarter. Intech Investment Management LLC now owns 411,041 shares of the company's stock worth $13,634,000 after buying an additional 347,576 shares in the last quarter. Finally, Capital Impact Advisors LLC acquired a new stake in Toast during the first quarter worth approximately $7,353,000. Institutional investors and hedge funds own 82.91% of the company's stock.

Analyst Ratings Changes

Several analysts recently issued reports on the company. JPMorgan Chase & Co. upped their target price on Toast from $36.00 to $42.00 and gave the stock a "neutral" rating in a report on Thursday, February 20th. Robert W. Baird upped their target price on Toast from $38.00 to $40.00 and gave the stock a "neutral" rating in a report on Thursday, February 20th. UBS Group upped their target price on Toast from $41.00 to $47.00 and gave the stock a "buy" rating in a report on Thursday, February 20th. Wells Fargo & Company upped their target price on Toast from $39.00 to $46.00 and gave the stock an "overweight" rating in a report on Friday, May 9th. Finally, Piper Sandler upped their target price on Toast from $35.00 to $37.00 and gave the stock a "neutral" rating in a report on Friday, May 9th. Twelve analysts have rated the stock with a hold rating and thirteen have given a buy rating to the company. According to MarketBeat.com, Toast has a consensus rating of "Moderate Buy" and an average price target of $41.21.

Toast Stock Up 2.9%

Shares of Toast stock traded up $1.24 on Friday, hitting $44.06. The stock had a trading volume of 5,613,436 shares, compared to its average volume of 6,785,441. Toast has a twelve month low of $21.32 and a twelve month high of $45.56. The business's 50 day moving average is $37.97 and its two-hundred day moving average is $38.05. The stock has a market cap of $21.94 billion, a price-to-earnings ratio of -4,401.60, a price-to-earnings-growth ratio of 2.16 and a beta of 2.02.

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.