Toast (NYSE:TOST) Given New $30.00 Price Target at Wells Fargo & Company

Toast (NYSE:TOST - Get Free Report) had its target price raised by analysts at Wells Fargo & Company from $25.00 to $30.00 in a research report issued to clients and investors on Thursday,Benzinga reports. The firm presently has an "underweight" rating on the stock. Wells Fargo & Company's target price would suggest a potential downside of 20.55% from the stock's current price.

Several other analysts have also recently issued reports on the company. The Goldman Sachs Group cut their target price on Toast from $45.00 to $40.00 and set a "neutral" rating for the company in a research report on Friday, January 10th. BNP Paribas lowered shares of Toast from an "outperform" rating to a "neutral" rating and set a $37.00 price objective for the company. in a report on Wednesday, November 20th. JPMorgan Chase & Co. boosted their target price on shares of Toast from $28.00 to $36.00 and gave the stock a "neutral" rating in a report on Friday, November 8th. Deutsche Bank Aktiengesellschaft raised their target price on shares of Toast from $24.00 to $30.00 and gave the company a "hold" rating in a research note on Monday, November 4th. Finally, Royal Bank of Canada lifted their price target on shares of Toast from $27.00 to $40.00 and gave the company a "sector perform" rating in a report on Friday, November 8th. One equities research analyst has rated the stock with a sell rating, twelve have assigned a hold rating and ten have given a buy rating to the company's stock. Based on data from MarketBeat, Toast presently has an average rating of "Hold" and an average target price of $35.27.

Toast Stock Up 2.4 %

TOST stock traded up $0.87 during trading on Thursday, reaching $37.76. The company's stock had a trading volume of 4,470,806 shares, compared to its average volume of 4,850,619. The company's fifty day moving average is $38.91 and its 200-day moving average is $30.94. The company has a market capitalization of $17.78 billion, a P/E ratio of -290.46, a price-to-earnings-growth ratio of 1.83 and a beta of 1.97. Toast has a 1 year low of $16.13 and a 1 year high of $44.12.

Insider Buying and Selling at Toast

In other Toast news, Director Richard Kent Bennett sold 100,000 shares of the business's stock in a transaction that occurred on Tuesday, November 12th. The stock was sold at an average price of $36.67, for a total transaction of $3,667,000.00. Following the completion of the transaction, the director now owns 418,591 shares in the company, valued at $15,349,731.97. The trade was a 19.28 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, Director David Yuan sold 189,785 shares of the stock in a transaction that occurred on Monday, November 25th. The stock was sold at an average price of $43.01, for a total value of $8,162,652.85. Following the completion of the sale, the director now owns 198,829 shares in the company, valued at approximately $8,551,635.29. The trade was a 48.84 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 562,600 shares of company stock worth $21,823,932 over the last quarter. Insiders own 13.32% of the company's stock.

Institutional Trading of Toast

A number of large investors have recently made changes to their positions in TOST. Victory Capital Management Inc. increased its stake in Toast by 3.4% in the 2nd quarter. Victory Capital Management Inc. now owns 49,002 shares of the company's stock worth $1,263,000 after buying an additional 1,611 shares during the period. Acadian Asset Management LLC bought a new stake in shares of Toast during the second quarter valued at approximately $364,000. American Century Companies Inc. boosted its holdings in shares of Toast by 25.5% in the second quarter. American Century Companies Inc. now owns 27,844 shares of the company's stock valued at $718,000 after purchasing an additional 5,651 shares during the period. DekaBank Deutsche Girozentrale increased its holdings in Toast by 36.7% during the 2nd quarter. DekaBank Deutsche Girozentrale now owns 49,871 shares of the company's stock worth $1,267,000 after purchasing an additional 13,388 shares during the period. Finally, Envestnet Asset Management Inc. raised its position in Toast by 46.5% during the 2nd quarter. Envestnet Asset Management Inc. now owns 333,013 shares of the company's stock valued at $8,582,000 after purchasing an additional 105,739 shares in the last quarter. 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.