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

BNP Paribas cut shares of Toast (NYSE:TOST) from an outperform rating to a neutral rating in a research note released on Wednesday morning, Marketbeat Ratings reports. They currently have $37.00 target price on the stock.

Other equities research analysts have also issued research reports about the stock. DA Davidson raised their price target on shares of Toast from $35.00 to $44.00 and gave the stock a “buy” rating in a research note on Tuesday, November 12th. Morgan Stanley increased their target price on shares of Toast from $30.00 to $33.00 and gave the company an “overweight” rating in a report on Tuesday, October 22nd. Wedbush upped their price target on Toast from $35.00 to $45.00 and gave the stock an “outperform” rating in a research note on Friday, November 8th. Bank of America raised 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. Finally, The Goldman Sachs Group raised their target price on shares of Toast from $29.00 to $33.00 and gave the company a “buy” rating in a report on Monday, October 14th. One equities research analyst has rated the stock with a sell rating, ten have given a hold rating and eleven have given a buy rating to the company. Based on data from MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus target price of $33.86.

Toast Price Performance

Shares of TOST stock opened at $42.49 on Wednesday. Toast has a 12-month low of $13.77 and a 12-month high of $42.85. The firm has a fifty day moving average of $30.45 and a 200-day moving average of $26.83.

Insider Buying and Selling

In other Toast news, CEO Aman Narang sold 10,106 shares of the business’s stock in a transaction dated 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 sale, the chief executive officer now owns 968,095 shares of the company’s stock, valued at $26,883,998.15. The trade was a 1.03 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, President Stephen Fredette sold 211,686 shares of the company’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 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 disclosure for this sale can be found here. Insiders sold a total of 1,475,651 shares of company stock valued at $43,037,212 over the last ninety days. 13.32% of the stock is owned by company insiders.

Institutional Investors Weigh In On Toast

Several large investors have recently added to or reduced their stakes in TOST. Toronto Dominion Bank increased its position in shares of Toast by 35.4% during the third quarter. Toronto Dominion Bank now owns 46,319 shares of the company’s stock valued at $1,311,000 after acquiring an additional 12,118 shares in the last quarter. Neo Ivy Capital Management purchased a new stake in shares of Toast during the 3rd quarter valued at $1,264,000. Geode Capital Management LLC lifted 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 purchasing an additional 155,212 shares during the period. M&T Bank Corp increased its stake in shares of Toast by 20.0% during the third quarter. M&T Bank Corp now owns 30,955 shares of the company’s stock worth $877,000 after purchasing an additional 5,169 shares in the last quarter. Finally, Barclays PLC lifted its holdings in Toast by 38.0% in the third quarter. Barclays PLC now owns 309,426 shares of the company’s stock valued at $8,758,000 after acquiring an additional 85,171 shares during 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.