Stock Traders Buy Large Volume of Call Options on Toast (NYSE:TOST)

Toast, Inc. (NYSE:TOST) was the recipient of unusually large options trading activity on Friday. Stock traders purchased 25,744 call options on the stock. This represents an increase of approximately 137% compared to the typical volume of 10,880 call options.

Insider Transactions at Toast

In related news, CFO Elena Gomez sold 1,917 shares of the company’s stock in a transaction dated Monday, November 4th. The shares were sold at an average price of $31.08, for a total transaction of $59,580.36. Following the transaction, the chief financial officer now directly owns 159,615 shares in the company, valued at approximately $4,960,834.20. This represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. In other news, CEO Aman Narang sold 10,106 shares of the business’s stock in a transaction on Wednesday, October 2nd. The shares were sold at an average price of $27.77, for a total transaction of $280,643.62. Following the completion of the sale, the chief executive officer now directly owns 968,095 shares of the company’s stock, valued at approximately $26,883,998.15. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, CFO Elena Gomez sold 1,917 shares of the company’s stock in a transaction dated Monday, November 4th. The stock was sold at an average price of $31.08, for a total transaction of $59,580.36. Following the completion of the transaction, the chief financial officer now owns 159,615 shares in the company, valued at approximately $4,960,834.20. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders sold 1,375,651 shares of company stock worth $38,150,212. 13.32% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

A number of hedge funds have recently bought and sold shares of the stock. Whale Rock Capital Management LLC acquired a new position in shares of Toast in the 1st quarter valued at $179,111,000. 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 worth $108,427,000 after purchasing an additional 3,701,893 shares during the last quarter. Capital International Investors boosted its position in Toast by 12.2% in the first quarter. Capital International Investors now owns 32,924,082 shares of the company’s stock valued at $820,468,000 after buying an additional 3,574,397 shares during the last quarter. Price T Rowe Associates Inc. MD increased its holdings in Toast by 21.4% in the 1st quarter. Price T Rowe Associates Inc. MD now owns 19,524,700 shares of the company’s stock worth $486,557,000 after buying an additional 3,445,788 shares during the period. Finally, Marshall Wace LLP raised its position in Toast by 175.8% during the 2nd quarter. Marshall Wace LLP now owns 2,517,288 shares of the company’s stock worth $64,871,000 after buying an additional 1,604,716 shares during the last quarter. Institutional investors and hedge funds own 82.91% of the company’s stock.

Toast Stock Performance

NYSE:TOST traded up $3.09 during mid-day trading on Friday, hitting $35.76. 11,168,127 shares of the company’s stock traded hands, compared to its average volume of 7,135,622. The company has a fifty day moving average of $27.94 and a 200 day moving average of $25.86. Toast has a twelve month low of $13.77 and a twelve month high of $38.40. The company has a market capitalization of $16.49 billion, a P/E ratio of -122.93 and a beta of 1.74.

Toast (NYSE:TOST) last announced its quarterly earnings data on Tuesday, August 6th. The company reported $0.02 EPS for the quarter, beating the consensus estimate of ($0.02) by $0.04. The firm had revenue of $1.24 billion during the quarter, compared to analyst estimates of $1.22 billion. Toast had a negative net margin of 3.10% and a negative return on equity of 11.27%. Toast’s revenue was up 27.0% on a year-over-year basis. During the same period last year, the firm posted ($0.19) EPS. On average, research analysts expect that Toast will post -0.1 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

A number of equities analysts have recently commented on TOST shares. Wedbush raised their target price on shares of Toast from $35.00 to $45.00 and gave the stock an “outperform” rating in a research report on Friday. Stephens raised their price objective on Toast from $28.00 to $30.00 and gave the stock an “equal weight” rating in a report on Friday, October 18th. Morgan Stanley increased their price target on Toast from $30.00 to $33.00 and gave the stock an “overweight” rating in a research report on Tuesday, October 22nd. Deutsche Bank Aktiengesellschaft lifted their price objective on Toast from $24.00 to $30.00 and gave the company a “hold” rating in a report on Monday. Finally, Robert W. Baird increased their target price on shares of Toast from $30.00 to $38.00 and gave the stock a “neutral” rating in a report on Friday. One investment 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 company currently has an average rating of “Hold” and a consensus target price of $30.45.

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.