Toast (NYSE:TOST) Cut to “Neutral” at BNP Paribas

BNP Paribas downgraded shares of Toast (NYSE:TOST) from an outperform rating to a neutral rating in a report published on Wednesday morning, Marketbeat reports. The brokerage currently has $37.00 target price on the stock.

TOST has been the topic of several other reports. JPMorgan Chase & Co. increased their price target on shares of Toast from $28.00 to $36.00 and gave the stock a “neutral” rating in a research report on Friday, November 8th. Deutsche Bank Aktiengesellschaft raised their target price on Toast from $24.00 to $30.00 and gave the stock a “hold” rating in a report on Monday, November 4th. Wells Fargo & Company boosted their price target on Toast from $23.00 to $25.00 and gave the company an “underweight” rating in a report on Friday, November 8th. The Goldman Sachs Group raised their price objective on Toast from $29.00 to $33.00 and gave the stock a “buy” rating in a research note on Monday, October 14th. Finally, Stephens boosted their price objective on Toast from $28.00 to $30.00 and gave the company an “equal weight” rating in a research note on Friday, October 18th. One investment analyst has rated the stock with a sell rating, ten have given a hold rating and eleven have issued a buy rating to the company. Based on data from MarketBeat.com, the company presently has an average rating of “Hold” and a consensus target price of $33.86.

Toast Price Performance

Shares of TOST opened at $42.72 on Wednesday. The firm has a market capitalization of $20.12 billion, a P/E ratio of -329.46, a PEG ratio of 54.16 and a beta of 1.74. Toast has a one year low of $13.92 and a one year high of $43.29. The business has a fifty day moving average of $31.12 and a 200 day moving average of $27.05.

Insider Transactions at Toast

In other news, CEO Aman Narang sold 10,106 shares of Toast stock in a transaction on Wednesday, October 2nd. The stock was 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 in the company, valued at approximately $26,883,998.15. This trade represents a 1.03 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Richard Kent Bennett sold 22,885 shares of Toast stock in a transaction dated Wednesday, November 20th. The shares were sold at an average price of $41.96, for a total transaction of $960,254.60. Following the sale, the director now owns 395,706 shares of the company’s stock, valued at $16,603,823.76. The trade was a 5.47 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 1,498,536 shares of company stock worth $43,997,467. 13.32% of the stock is currently owned by insiders.

Hedge Funds Weigh In On Toast

A number of institutional investors have recently modified their holdings of TOST. KBC Group NV increased its holdings in Toast by 66.5% during the 3rd quarter. KBC Group NV now owns 42,838 shares of the company’s stock worth $1,213,000 after purchasing an additional 17,106 shares during the period. Makena Capital Management LLC raised its holdings in shares of Toast by 7.6% in the third quarter. Makena Capital Management LLC now owns 274,392 shares of the company’s stock valued at $7,768,000 after acquiring an additional 19,371 shares in the last quarter. Stephens Investment Management Group LLC lifted its stake in Toast by 13.1% in the third quarter. Stephens Investment Management Group LLC now owns 1,884,771 shares of the company’s stock worth $53,358,000 after acquiring an additional 218,959 shares during the period. Entropy Technologies LP bought a new position in Toast during the 3rd quarter worth about $894,000. Finally, QRG Capital Management Inc. increased its position in Toast by 39.7% during the 2nd quarter. QRG Capital Management Inc. now owns 84,967 shares of the company’s stock valued at $2,190,000 after purchasing an additional 24,164 shares during the period. 82.91% of the stock is owned by hedge funds and other 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.