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

Toast, Inc. (NYSE:TOSTGet Free Report) was the target of unusually large options trading activity on Tuesday. Stock traders bought 23,712 call options on the company. This is an increase of 28% compared to the typical daily volume of 18,455 call options.

Toast Price Performance

Shares of TOST traded up $1.67 during trading hours on Tuesday, hitting $24.27. The stock had a trading volume of 10,226,314 shares, compared to its average volume of 8,248,896. The firm has a 50 day simple moving average of $24.09 and a 200-day simple moving average of $21.45. Toast has a 1-year low of $13.77 and a 1-year high of $27.90. The firm has a market capitalization of $10.99 billion, a P/E ratio of -48.54 and a beta of 1.75.

Toast (NYSE:TOSTGet Free Report) last issued its earnings results on Tuesday, May 7th. The company reported ($0.15) earnings per share for the quarter, hitting analysts’ consensus estimates of ($0.15). Toast had a negative return on equity of 21.45% and a negative net margin of 6.02%. The company had revenue of $1.08 billion for the quarter, compared to analyst estimates of $1.04 billion. During the same period in the prior year, the firm earned ($0.16) earnings per share. Toast’s revenue for the quarter was up 31.3% on a year-over-year basis. Equities analysts predict that Toast will post -0.14 EPS for the current fiscal year.

Insider Buying and Selling

In other news, CRO Jonathan Vassil sold 50,000 shares of Toast stock in a transaction that occurred on Thursday, May 23rd. The shares were sold at an average price of $25.79, for a total value of $1,289,500.00. Following the completion of the sale, the executive now directly owns 26,897 shares in the company, valued at $693,673.63. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. In related news, CRO Jonathan Vassil sold 50,000 shares of the business’s stock in a transaction dated Thursday, May 23rd. The stock was sold at an average price of $25.79, for a total value of $1,289,500.00. Following the completion of the transaction, the executive now owns 26,897 shares of the company’s stock, valued at $693,673.63. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, CFO Elena Gomez sold 12,500 shares of the stock in a transaction dated Wednesday, May 8th. The stock was sold at an average price of $26.39, for a total transaction of $329,875.00. Following the sale, the chief financial officer now owns 176,980 shares in the company, valued at $4,670,502.20. The disclosure for this sale can be found here. Over the last three months, insiders have sold 142,223 shares of company stock valued at $3,458,694. 13.32% of the stock is owned by company insiders.

Institutional Investors Weigh In On Toast

Institutional investors and hedge funds have recently made changes to their positions in the business. LRI Investments LLC bought a new position in shares of Toast in the first quarter valued at approximately $27,000. Principal Securities Inc. bought a new position in Toast during the 4th quarter valued at $30,000. Cape Investment Advisory Inc. bought a new stake in shares of Toast in the 4th quarter worth $31,000. SRS Capital Advisors Inc. bought a new position in shares of Toast during the third quarter valued at about $33,000. Finally, Harbor Investment Advisory LLC bought a new stake in Toast in the 1st quarter worth about $37,000. Institutional investors and hedge funds own 82.91% of the company’s stock.

Wall Street Analyst Weigh In

Several brokerages have recently issued reports on TOST. Keefe, Bruyette & Woods reiterated a “market perform” rating and issued a $26.00 price target on shares of Toast in a research note on Wednesday, May 29th. Wedbush reissued an “outperform” rating and set a $30.00 target price on shares of Toast in a research note on Thursday, May 30th. Evercore ISI started coverage on shares of Toast in a research note on Monday, March 4th. They issued an “outperform” rating and a $32.00 price target on the stock. The Goldman Sachs Group upped their price objective on shares of Toast from $26.00 to $29.00 and gave the stock a “buy” rating in a research report on Monday, April 15th. Finally, UBS Group boosted their target price on shares of Toast from $22.00 to $31.00 and gave the stock a “buy” rating in a research note on Thursday, March 28th. One analyst has rated the stock with a sell rating, ten have issued a hold rating and ten have assigned a buy rating to the stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus price target of $26.14.

Read Our Latest Analysis on TOST

About Toast

(Get Free Report)

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.

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