Toast (NYSE:TOST) Lowered to “Neutral” Rating by BNP Paribas

BNP Paribas lowered shares of Toast (NYSE:TOST) from an outperform rating to a neutral rating in a research note issued to investors on Wednesday morning, Marketbeat Ratings reports. The firm currently has $37.00 price objective on the stock.

Other equities analysts have also recently issued research reports about the company. Morgan Stanley boosted their price objective on Toast from $30.00 to $33.00 and gave the stock an “overweight” rating in a research report on Tuesday, October 22nd. JPMorgan Chase & Co. raised their price target on Toast from $28.00 to $36.00 and gave the company a “neutral” rating in a research note on Friday, November 8th. Compass Point began coverage on Toast in a research note on Wednesday. They set a “buy” rating and a $49.00 price objective on the stock. Robert W. Baird raised their price target on shares of Toast from $30.00 to $38.00 and gave the company a “neutral” rating in a research note on Friday, November 8th. Finally, Stephens lifted their target price on Toast from $28.00 to $30.00 and gave the company an “equal weight” rating in a research report on Friday, October 18th. One 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 company. According to data from MarketBeat, the stock presently has an average rating of “Hold” and an average target price of $33.86.

Toast Stock Performance

NYSE:TOST opened at $42.49 on Wednesday. The business has a 50 day simple moving average of $30.45 and a 200 day simple moving average of $26.83. Toast has a 12-month low of $13.77 and a 12-month high of $42.85.

Insider Buying and Selling at Toast

In related news, President Stephen Fredette sold 211,686 shares of the stock in a transaction that occurred on Tuesday, September 10th. The stock was 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 directly owns 2,638,023 shares of the company’s stock, valued at $62,178,202.11. This represents a 7.43 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, CEO Aman Narang sold 10,106 shares of Toast stock in a transaction dated Wednesday, October 2nd. The stock was 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 in the company, valued at $26,883,998.15. This represents a 1.03 % decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders sold 1,475,651 shares of company stock worth $43,037,212. Insiders own 13.32% of the company’s stock.

Institutional Trading of Toast

Large investors have recently bought and sold shares of the stock. Mitsubishi UFJ Trust & Banking Corp boosted its position in shares of Toast by 3.2% in the 1st quarter. Mitsubishi UFJ Trust & Banking Corp now owns 176,003 shares of the company’s stock worth $4,382,000 after purchasing an additional 5,421 shares during the last quarter. Covestor Ltd raised its position in shares of Toast by 487.7% during the first quarter. Covestor Ltd now owns 3,003 shares of the company’s stock worth $75,000 after purchasing an additional 2,492 shares during the period. UniSuper Management Pty Ltd increased its stake in Toast by 188.2% during the 1st quarter. UniSuper Management Pty Ltd now owns 4,900 shares of the company’s stock worth $122,000 after purchasing an additional 3,200 shares in the last quarter. CANADA LIFE ASSURANCE Co raised its holdings in shares of Toast by 13.8% during the first quarter. CANADA LIFE ASSURANCE Co now owns 314,519 shares of the company’s stock worth $7,833,000 after acquiring an additional 38,031 shares during the period. Finally, Advisors Asset Management Inc. raised its position in Toast by 38.2% in the 1st quarter. Advisors Asset Management Inc. now owns 4,086 shares of the company’s stock valued at $102,000 after buying an additional 1,130 shares during the last quarter. 82.91% of the stock is currently 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.