Stock Traders Purchase High Volume of Call Options on Toast (NYSE:TOST)

Toast, Inc. (NYSE:TOST - Get Free Report) was the target of unusually large options trading on Friday. Traders acquired 25,744 call options on the company. This is an increase of 137% compared to the average volume of 10,880 call options.

Toast Stock Up 14.5 %

Shares of TOST traded up $4.73 during trading hours on Friday, hitting $37.40. The company had a trading volume of 28,785,664 shares, compared to its average volume of 7,216,790. The stock's 50 day moving average price is $27.94 and its 200 day moving average price is $25.86. Toast has a 52-week low of $13.77 and a 52-week high of $38.40. The firm has a market cap of $17.24 billion, a P/E ratio of -128.72 and a beta of 1.74.

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

Insider Buying and Selling

In other news, CRO Jonathan Vassil sold 1,367 shares of the business's stock in a transaction that occurred on Monday, November 4th. The stock was sold at an average price of $31.08, for a total transaction of $42,486.36. Following the completion of the sale, the executive now owns 39,834 shares in the company, valued at $1,238,040.72. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. In related news, CRO Jonathan Vassil sold 1,367 shares of the stock in a transaction that occurred on Monday, November 4th. The shares were sold at an average price of $31.08, for a total transaction of $42,486.36. Following the sale, the executive now owns 39,834 shares in the company, valued at approximately $1,238,040.72. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, General Counsel Brian R. Elworthy sold 300,000 shares of the business's stock in a transaction that occurred on Friday, October 18th. The shares were sold at an average price of $30.39, for a total transaction of $9,117,000.00. Following the transaction, the general counsel now owns 177,836 shares of the company's stock, valued at approximately $5,404,436.04. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 1,375,651 shares of company stock valued at $38,150,212. 13.32% of the stock is owned by insiders.

Institutional Inflows and Outflows

A number of institutional investors have recently made changes to their positions in the business. West Branch Capital LLC purchased a new position in Toast during the 2nd quarter worth $26,000. LRI Investments LLC purchased a new stake in Toast in the first quarter valued at approximately $27,000. Toth Financial Advisory Corp acquired a new position in Toast in the 3rd quarter worth approximately $28,000. Thurston Springer Miller Herd & Titak Inc. purchased a new position in Toast during the 2nd quarter worth approximately $33,000. Finally, 1620 Investment Advisors Inc. acquired a new stake in Toast during the 2nd quarter valued at approximately $34,000. Institutional investors own 82.91% of the company's stock.

Analysts Set New Price Targets

Several analysts have recently commented on the stock. Stephens raised their price objective on shares of Toast from $28.00 to $30.00 and gave the stock an "equal weight" rating in a research report on Friday, October 18th. Royal Bank of Canada upped their price objective on shares of Toast from $27.00 to $40.00 and gave the company a "sector perform" rating in a report on Friday. Robert W. Baird raised their target price on Toast from $30.00 to $38.00 and gave the company a "neutral" rating in a research note on Friday. Morgan Stanley boosted their target price on Toast from $30.00 to $33.00 and gave the company an "overweight" rating in a research report on Tuesday, October 22nd. Finally, Wells Fargo & Company increased their price target on Toast from $23.00 to $25.00 and gave the stock an "underweight" rating in a report on Friday. One analyst has rated the stock with a sell rating, nine have assigned a hold rating and eleven have issued a buy rating to the company. Based on data from MarketBeat, Toast presently has an average rating of "Hold" and an average price target of $31.80.

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.