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

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

Analyst Ratings Changes

TOST has been the topic of several research reports. BNP Paribas Exane upgraded Toast from a “hold” rating to an “outperform” rating and set a $40.00 price objective for the company in a report on Monday, December 1st. Royal Bank Of Canada set a $45.00 price objective on Toast in a research note on Wednesday, November 5th. Morgan Stanley boosted their target price on Toast from $54.00 to $56.00 and gave the stock an “overweight” rating in a research report on Wednesday, November 5th. Stephens set a $42.00 price target on Toast in a research report on Friday, January 16th. Finally, Oppenheimer cut their price objective on Toast from $49.00 to $48.00 and set an “outperform” rating on the stock in a research report on Monday, January 12th. Two equities research 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 company’s stock. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $45.55.

Toast Stock Up 1.5%

TOST stock traded up $0.43 during midday trading on Monday, hitting $28.16. The company’s stock had a trading volume of 8,211,292 shares, compared to its average volume of 10,796,231. The firm has a market capitalization of $14.50 billion, a price-to-earnings 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 company has a 50 day moving average of $34.24 and a two-hundred day moving average of $37.85.

Insiders Place Their Bets

In other news, CRO Jonathan Vassil sold 1,454 shares of the company’s stock in a transaction dated Tuesday, February 3rd. The stock was sold at an average price of $30.34, for a total transaction of $44,114.36. Following the completion of the sale, the executive owned 139,893 shares in the company, valued at approximately $4,244,353.62. This represents a 1.03% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, CFO Elena Gomez sold 1,437 shares of the firm’s stock in a transaction on Tuesday, February 3rd. The stock was sold at an average price of $30.34, for a total transaction of $43,598.58. Following the completion of the sale, the chief financial officer owned 164,629 shares in the company, valued at approximately $4,994,843.86. The trade was a 0.87% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Over the last three months, insiders sold 100,856 shares of company stock worth $3,540,449. Company insiders own 12.14% of the company’s stock.

Institutional Investors Weigh In On Toast

Hedge funds have recently bought and sold shares of the stock. Allianz Asset Management GmbH grew its stake in Toast by 322.0% during the 3rd quarter. Allianz Asset Management GmbH now owns 362,765 shares of the company’s stock worth $13,245,000 after buying an additional 276,803 shares during the last quarter. K.J. Harrison & Partners Inc acquired a new stake in Toast in the second quarter worth approximately $1,329,000. Nordea Investment Management AB boosted its stake in Toast by 49.5% during the third quarter. Nordea Investment Management AB now owns 138,619 shares of the company’s stock valued at $4,988,000 after buying an additional 45,898 shares in the last quarter. Reliant Investment Partners LLC acquired a new position in shares of Toast in the 2nd quarter worth approximately $472,000. Finally, Jennison Associates LLC raised its position in shares of Toast by 74.4% during the third quarter. Jennison Associates LLC now owns 15,000,561 shares of the company’s stock worth $547,670,000 after purchasing an additional 6,398,674 shares during the period. Hedge funds and other institutional investors own 82.91% of the company’s stock.

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.