Toast (NYSE:TOST) Receives Neutral Rating from DA Davidson

Toast (NYSE:TOST)‘s stock had its “neutral” rating reiterated by equities research analysts at DA Davidson in a research report issued to clients and investors on Thursday,Benzinga reports. They presently have a $38.00 target price on the stock, down from their previous target price of $44.00. DA Davidson’s price objective would indicate a potential downside of 0.37% from the stock’s current price.

Other research analysts have also recently issued research reports about the company. Bank of America raised their price target on Toast from $26.00 to $28.00 and gave the company a “neutral” rating in a research report on Tuesday, September 17th. Compass Point began coverage on Toast in a research report on Wednesday, November 20th. They issued a “buy” rating and a $49.00 price target for the company. Stephens raised their price target on Toast from $28.00 to $30.00 and gave the company an “equal weight” rating in a research report on Friday, October 18th. Wells Fargo & Company increased their price objective on Toast from $23.00 to $25.00 and gave the company an “underweight” rating in a research note on Friday, November 8th. Finally, The Goldman Sachs Group reaffirmed a “neutral” rating and set a $45.00 price objective (up previously from $34.00) on shares of Toast in a research note on Monday. One equities research analyst has rated the stock with a sell rating, twelve have assigned a hold rating and nine have issued a buy rating to the company’s stock. According to MarketBeat.com, Toast has an average rating of “Hold” and a consensus target price of $34.14.

Toast Stock Down 10.1 %

Shares of TOST stock opened at $38.14 on Thursday. Toast has a fifty-two week low of $14.45 and a fifty-two week high of $44.12. The stock has a market cap of $17.96 billion, a P/E ratio of -293.38, a P/E/G ratio of 54.06 and a beta of 1.93. The business has a fifty day simple moving average of $33.89 and a 200-day simple moving average of $28.06.

Insiders Place Their Bets

In other Toast news, General Counsel Brian R. Elworthy sold 300,000 shares of Toast stock in a transaction that occurred on Friday, October 18th. The stock was sold at an average price of $30.39, for a total transaction of $9,117,000.00. Following the sale, the general counsel now directly owns 177,836 shares in the company, valued at $5,404,436.04. The trade was a 62.78 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, President Stephen Fredette sold 211,686 shares of the business’s stock in a transaction that occurred on Tuesday, September 10th. The shares were sold at an average price of $23.57, for a total value of $4,989,439.02. Following the completion of the sale, the president now owns 2,638,023 shares of the company’s stock, valued at $62,178,202.11. This trade represents a 7.43 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 1,688,321 shares of company stock worth $52,160,120 in the last three months. 13.32% of the stock is owned by insiders.

Institutional Investors Weigh In On Toast

A number of institutional investors have recently made changes to their positions in the company. Synovus Financial Corp bought a new stake in shares of Toast in the 3rd quarter valued at approximately $425,000. Tidal Investments LLC boosted its position in Toast by 5.4% during the 3rd quarter. Tidal Investments LLC now owns 14,310 shares of the company’s stock valued at $405,000 after purchasing an additional 734 shares during the period. Wilmington Savings Fund Society FSB acquired a new position in Toast during the 3rd quarter valued at approximately $59,000. Sanctuary Advisors LLC acquired a new position in Toast during the 3rd quarter valued at approximately $327,000. Finally, Toronto Dominion Bank boosted its position in Toast by 35.4% during the 3rd quarter. Toronto Dominion Bank now owns 46,319 shares of the company’s stock valued at $1,311,000 after purchasing an additional 12,118 shares during the period. 82.91% of the stock is currently owned by institutional investors.

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.