Toast (NYSE:TOST) Hits New 52-Week High – Time to Buy?

Toast, Inc. (NYSE:TOST) shares reached a new 52-week high on Monday . The stock traded as high as $43.38 and last traded at $43.38, with a volume of 19412 shares changing hands. The stock had previously closed at $42.74.

Analyst Ratings Changes

A number of equities research analysts have commented on the stock. Robert W. Baird lifted their target price on shares of Toast from $30.00 to $38.00 and gave the stock a “neutral” rating in a research report on Friday, November 8th. JPMorgan Chase & Co. lifted their price objective on Toast from $28.00 to $36.00 and gave the stock a “neutral” rating in a report on Friday, November 8th. Bank of America increased their target price on Toast from $26.00 to $28.00 and gave the company a “neutral” rating in a report on Tuesday, September 17th. Royal Bank of Canada upped their price target on shares of Toast from $27.00 to $40.00 and gave the company a “sector perform” rating in a research report on Friday, November 8th. Finally, Wedbush raised their price objective on shares of Toast from $35.00 to $45.00 and gave the stock an “outperform” rating in a report on Friday, November 8th. One equities research analyst has rated the stock with a sell rating, ten have assigned a hold rating and eleven have given a buy rating to the stock. According to MarketBeat.com, the stock currently has an average rating of “Hold” and an average target price of $33.86.

Toast Stock Performance

The company has a market capitalization of $20.36 billion, a P/E ratio of -332.46, a P/E/G ratio of 54.47 and a beta of 1.74. The business’s fifty day simple moving average is $31.78 and its 200-day simple moving average is $27.32.

Insider Transactions at Toast

In other Toast news, CEO Aman Narang sold 10,106 shares of Toast stock in a transaction on Wednesday, October 2nd. The shares were sold at an average price of $27.77, for a total value of $280,643.62. Following the completion of the transaction, the chief executive officer now directly owns 968,095 shares of the company’s stock, valued at $26,883,998.15. This trade represents a 1.03 % 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 211,686 shares of the company’s stock in a transaction dated Tuesday, September 10th. The shares were sold at an average price of $23.57, for a total transaction of $4,989,439.02. Following the sale, the president now owns 2,638,023 shares in the company, valued at $62,178,202.11. This represents a 7.43 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 1,498,536 shares of company stock valued at $43,997,467. 13.32% of the stock is currently owned by insiders.

Institutional Investors Weigh In On Toast

Large investors have recently added to or reduced their stakes in the stock. FMR LLC boosted its holdings in shares of Toast by 50.5% in the 3rd quarter. FMR LLC now owns 24,449,743 shares of the company’s stock worth $692,172,000 after purchasing an additional 8,205,053 shares during the period. ValueAct Holdings L.P. bought a new stake in Toast in the third quarter worth $438,301,000. State Street Corp boosted its stake in Toast by 2.5% during the third quarter. State Street Corp now owns 8,325,292 shares of the company’s stock worth $235,689,000 after buying an additional 206,789 shares during the period. Geode Capital Management LLC increased its position in Toast by 2.3% during the third quarter. Geode Capital Management LLC now owns 6,865,934 shares of the company’s stock valued at $193,992,000 after acquiring an additional 155,212 shares during the last quarter. Finally, Assenagon Asset Management S.A. raised its stake in shares of Toast by 2,889.8% in the third quarter. Assenagon Asset Management S.A. now owns 3,829,995 shares of the company’s stock valued at $108,427,000 after acquiring an additional 3,701,893 shares during the period. 82.91% of the stock is owned by institutional investors.

About Toast

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.