Toast Target of Unusually High Options Trading (NYSE:TOST)

Toast, Inc. (NYSE:TOST) saw some unusual options trading activity on Monday. Stock traders purchased 43,533 call options on the company. This represents an increase of 210% compared to the typical daily volume of 14,026 call options.

Insider Buying and Selling

In other Toast news, President Stephen Fredette sold 4,866 shares of Toast stock in a transaction that occurred on Monday, January 5th. The shares were sold at an average price of $34.38, for a total value of $167,293.08. Following the transaction, the president owned 910,606 shares of the company’s stock, valued at approximately $31,306,634.28. The trade was a 0.53% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, CFO Elena Gomez sold 6,672 shares of the firm’s stock in a transaction on Monday, January 5th. The shares were sold at an average price of $34.38, for a total transaction 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 approximately $5,574,820.14. This trade represents a 3.95% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold a total of 100,856 shares of company stock worth $3,540,449 over the last 90 days. 12.14% of the stock is currently owned by corporate insiders.

Institutional Trading of Toast

Several hedge funds have recently bought and sold shares of TOST. RiverPark Advisors LLC acquired a new position in shares of Toast during the second quarter valued at approximately $30,000. Ameritas Advisory Services LLC purchased a new stake in Toast during the second quarter worth about $31,000. Quent Capital LLC purchased a new position in Toast in the third quarter valued at $27,000. Alpine Bank Wealth Management purchased a new stake in shares of Toast in the 3rd quarter valued at approximately $30,000. Finally, Motco purchased a new position in Toast in the second quarter valued at approximately $44,000. Institutional investors own 82.91% of the company’s stock.

Toast Trading Up 1.5%

Toast stock traded up $0.43 during mid-day trading on Monday, hitting $28.16. The company had a trading volume of 8,211,292 shares, compared to its average volume of 10,796,231. The company has a market capitalization of $14.50 billion, a PE ratio of 65.53 and a beta of 1.93. Toast has a 12 month low of $26.92 and a 12 month high of $49.66. The stock’s 50 day moving average price is $34.24 and its two-hundred day moving average price is $37.85.

Analyst Upgrades and Downgrades

Several research analysts have recently issued reports on the company. Morgan Stanley upped their price objective on Toast from $54.00 to $56.00 and gave the company an “overweight” rating in a research note on Wednesday, November 5th. Evercore upgraded Toast from an “in-line” rating to an “outperform” rating and set a $40.00 price target for the company in a research note on Tuesday, January 20th. Royal Bank Of Canada set a $45.00 price target on Toast in a report on Wednesday, November 5th. Truist Financial set a $42.00 price objective on Toast in a research note on Tuesday, January 20th. Finally, Wolfe Research lowered shares of Toast from an “outperform” rating to a “peer perform” rating in a research note on Thursday, January 8th. Two equities research analysts have rated the stock with a Strong Buy rating, thirteen have given a Buy rating and eight have given a Hold rating to the stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average target price of $45.55.

Toast Company Profile

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.