Toast (NYSE:TOST) Coverage Initiated by Analysts at Truist Financial

Truist Financial began coverage on shares of Toast (NYSE:TOST - Free Report) in a research report report published on Monday morning, MarketBeat.com reports. The firm issued a buy rating and a $48.00 target price on the stock.

Other equities research analysts also recently issued research reports about the company. Robert W. Baird upped their price target on Toast from $38.00 to $40.00 and gave the stock a "neutral" rating in a report on Thursday, February 20th. Wells Fargo & Company increased their price objective on Toast from $39.00 to $46.00 and gave the stock an "overweight" rating in a report on Friday, May 9th. Morgan Stanley increased their price objective on Toast from $46.00 to $50.00 and gave the stock an "overweight" rating in a report on Friday, May 9th. The Goldman Sachs Group lowered their price target on Toast from $43.00 to $38.00 and set a "neutral" rating on the stock in a report on Wednesday, April 2nd. Finally, Keefe, Bruyette & Woods raised their price target on Toast from $40.00 to $42.00 and gave the company a "market perform" rating in a report on Thursday, February 20th. Twelve research analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the stock. According to MarketBeat.com, the company has an average rating of "Moderate Buy" and an average price target of $41.21.

Toast Trading Down 3.1%

TOST stock traded down $1.33 during trading on Monday, hitting $41.66. The company had a trading volume of 8,438,349 shares, compared to its average volume of 6,775,901. The business has a 50-day moving average of $37.41 and a 200-day moving average of $37.99. Toast has a one year low of $21.32 and a one year high of $45.56. The stock has a market cap of $20.74 billion, a PE ratio of -4,161.44, a PEG ratio of 2.16 and a beta of 1.98.

Insider Transactions at Toast

In related news, General Counsel Brian R. Elworthy sold 300,000 shares of the company's stock in a transaction on 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 directly owns 216,156 shares of the company's stock, valued at $9,208,245.60. This represents a 58.12% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, Director Paul D. Bell sold 11,000 shares of the stock in a transaction on Thursday, May 15th. The stock was sold at an average price of $45.13, for a total value of $496,430.00. Following the completion of the sale, the director now directly 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 disclosure for this sale can be found here. In the last three months, insiders have sold 716,991 shares of company stock worth $28,022,750. 13.32% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently modified their holdings of the business. SBI Securities Co. Ltd. lifted its holdings in Toast by 29.2% in the first quarter. SBI Securities Co. Ltd. now owns 1,257 shares of the company's stock valued at $42,000 after acquiring an additional 284 shares during the period. Stonekeep Investments LLC boosted its stake in Toast by 4.0% during the first quarter. Stonekeep Investments LLC now owns 7,791 shares of the company's stock valued at $258,000 after buying an additional 297 shares during the last quarter. Sumitomo Mitsui DS Asset Management Company Ltd grew its holdings in Toast by 0.8% during the 4th quarter. Sumitomo Mitsui DS Asset Management Company Ltd now owns 38,632 shares of the company's stock valued at $1,408,000 after buying an additional 301 shares in the last quarter. Advisors Asset Management Inc. increased its stake in Toast by 7.3% in the 1st quarter. Advisors Asset Management Inc. now owns 4,439 shares of the company's stock worth $147,000 after acquiring an additional 301 shares during the last quarter. Finally, Keel Point LLC raised its holdings in shares of Toast by 2.7% during the 4th quarter. Keel Point LLC now owns 12,269 shares of the company's stock worth $447,000 after acquiring an additional 326 shares in the last quarter. 82.91% of the stock is owned by institutional investors.

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.