Toast (NYSE:TOST) Reaches New 52-Week High – Should You Buy?

Shares of Toast, Inc. (NYSE:TOST) hit a new 52-week high during trading on Tuesday . The company traded as high as $41.06 and last traded at $41.01, with a volume of 2138291 shares trading hands. The stock had previously closed at $39.82.

Analysts Set New Price Targets

A number of research analysts have recently commented on the company. DA Davidson raised their price target on Toast from $35.00 to $44.00 and gave the company a “buy” rating in a report on Tuesday, November 12th. Bank of America upped their target price on Toast from $26.00 to $28.00 and gave the stock a “neutral” rating in a research report on Tuesday, September 17th. The Goldman Sachs Group lifted their price target on shares of Toast from $29.00 to $33.00 and gave the company a “buy” rating in a research report on Monday, October 14th. Stephens increased their target price on shares of Toast from $28.00 to $30.00 and gave the company an “equal weight” rating in a research note on Friday, October 18th. Finally, Royal Bank of Canada increased their target price on Toast from $27.00 to $40.00 and gave the stock a “sector perform” rating in a report on Friday, November 8th. One research analyst has rated the stock with a sell rating, nine have given a hold rating and eleven have issued a buy rating to the company’s stock. According to data from MarketBeat, the stock has an average rating of “Hold” and an average price target of $32.75.

Toast Stock Up 6.7 %

The firm has a fifty day moving average of $29.75 and a two-hundred day moving average of $26.57.

Insider Buying and Selling at Toast

In other Toast news, 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 transaction, the president now owns 2,638,023 shares of the company’s stock, valued at $62,178,202.11. The trade was a 7.43 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Richard Kent Bennett sold 100,000 shares of Toast stock in a transaction dated Tuesday, November 12th. The stock was sold at an average price of $36.67, for a total value of $3,667,000.00. Following the sale, the director now directly owns 418,591 shares of the company’s stock, valued at approximately $15,349,731.97. This trade represents a 19.28 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 1,475,651 shares of company stock valued at $43,037,212 in the last 90 days. 13.32% of the stock is currently owned by company insiders.

Institutional Trading of Toast

Several hedge funds and other institutional investors have recently bought and sold shares of the stock. ValueAct Holdings L.P. bought a new position in shares of Toast during the third quarter valued at approximately $438,301,000. FMR LLC increased its position in Toast by 50.5% during the 3rd quarter. FMR LLC now owns 24,449,743 shares of the company’s stock valued at $692,172,000 after buying an additional 8,205,053 shares in the last quarter. Whale Rock Capital Management LLC bought a new position in Toast in the 1st quarter worth about $179,111,000. Assenagon Asset Management S.A. lifted its position in Toast by 2,889.8% in the 3rd 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 in the last quarter. Finally, Capital International Investors increased its holdings in Toast by 12.2% in the 1st quarter. Capital International Investors now owns 32,924,082 shares of the company’s stock worth $820,468,000 after buying an additional 3,574,397 shares in the last quarter. Institutional investors own 82.91% of the company’s stock.

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.