Stock Traders Purchase High Volume of Toast Call Options (NYSE:TOST)

Toast, Inc. (NYSE:TOST) was the recipient of some unusual options trading on Monday. Traders bought 43,533 call options on the company. This represents an increase of 210% compared to the average daily volume of 14,026 call options.

Toast Price Performance

Shares of TOST opened at $28.67 on Tuesday. The firm has a market capitalization of $14.77 billion, a price-to-earnings ratio of 66.67 and a beta of 1.93. Toast has a 1-year low of $26.92 and a 1-year high of $49.66. The company has a 50-day moving average of $34.13 and a 200 day moving average of $37.71.

Insider Transactions at Toast

In other Toast news, CFO Elena Gomez sold 6,672 shares of Toast stock in a transaction on Monday, January 5th. The shares were sold at an average price of $34.38, for a total value of $229,383.36. Following the completion of the transaction, the chief financial officer directly owned 162,153 shares of the company’s stock, valued at $5,574,820.14. This trade represents a 3.95% decrease in their position. The sale was disclosed in a filing with the SEC, which is available at this link. Also, President Stephen Fredette sold 4,866 shares of the company’s stock in a transaction dated Monday, January 5th. The shares were sold at an average price of $34.38, for a total transaction of $167,293.08. Following the sale, the president owned 910,606 shares in the company, valued at $31,306,634.28. This represents a 0.53% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders sold a total of 100,856 shares of company stock valued at $3,540,449 in the last 90 days. Company insiders own 12.14% of the company’s stock.

Hedge Funds Weigh In On Toast

Several institutional investors have recently made changes to their positions in the company. NewEdge Advisors LLC grew its holdings in Toast by 1,555.5% during the 1st quarter. NewEdge Advisors LLC now owns 17,432 shares of the company’s stock worth $578,000 after acquiring an additional 16,379 shares in the last quarter. Truist Financial Corp boosted its stake in shares of Toast by 34.2% during the second quarter. Truist Financial Corp now owns 33,448 shares of the company’s stock valued at $1,481,000 after purchasing an additional 8,530 shares in the last quarter. Ameritas Advisory Services LLC purchased a new position in Toast during the second quarter valued at approximately $31,000. Vontobel Holding Ltd. increased its holdings in Toast by 7.2% during the second quarter. Vontobel Holding Ltd. now owns 11,263 shares of the company’s stock valued at $499,000 after buying an additional 753 shares during the period. Finally, US Bancorp DE raised its stake in Toast by 2.8% in the second quarter. US Bancorp DE now owns 52,950 shares of the company’s stock worth $2,345,000 after buying an additional 1,437 shares in the last quarter. Hedge funds and other institutional investors own 82.91% of the company’s stock.

Analysts Set New Price Targets

A number of equities analysts have recently commented on the company. Royal Bank Of Canada set a $45.00 target price on Toast in a report on Wednesday, November 5th. Citigroup raised shares of Toast to a “strong-buy” rating in a research note on Thursday, October 23rd. Truist Financial set a $42.00 target price on shares of Toast in a research note on Tuesday, January 20th. Jefferies Financial Group reaffirmed a “buy” rating on shares of Toast in a research note on Tuesday, February 3rd. Finally, Oppenheimer cut their price target on shares of Toast from $49.00 to $48.00 and set an “outperform” rating on the stock in a report on Monday, January 12th. Two investment analysts have rated the stock with a Strong Buy rating, thirteen have assigned a Buy rating and eight have issued a Hold rating to the stock. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average price target of $45.55.

About Toast

Toast, Inc (NYSE: TOST) is a technology company that builds a cloud-based platform for restaurants and other foodservice businesses. Headquartered in Boston, Massachusetts, Toast offers integrated point-of-sale (POS) systems and a suite of software and hardware designed to streamline front-of-house and back-of-house operations. The company went public in 2021 and has positioned itself as a vertically integrated provider for the restaurant industry.

Toast’s product portfolio includes touchscreen POS terminals and handheld order-and-pay devices, kitchen display systems, and peripherals tailored for high-volume foodservice environments.