Hussman Strategic Advisors Inc. Sells 21,000 Shares of Toast, Inc. (NYSE:TOST)

Hussman Strategic Advisors Inc. decreased its holdings in Toast, Inc. (NYSE:TOST - Free Report) by 33.3% in the 1st quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 42,000 shares of the company's stock after selling 21,000 shares during the period. Hussman Strategic Advisors Inc.'s holdings in Toast were worth $1,393,000 at the end of the most recent reporting period.

Several other large investors have also recently modified their holdings of the business. Procyon Advisors LLC purchased a new position in Toast in the 1st quarter worth approximately $242,000. Wealth Enhancement Advisory Services LLC grew its stake in Toast by 19.5% in the 4th quarter. Wealth Enhancement Advisory Services LLC now owns 22,751 shares of the company's stock worth $829,000 after buying an additional 3,713 shares in the last quarter. Yorktown Management & Research Co Inc purchased a new position in Toast in the 1st quarter worth approximately $252,000. Principal Financial Group Inc. grew its stake in Toast by 14,258.8% in the 1st quarter. Principal Financial Group Inc. now owns 5,474,443 shares of the company's stock worth $181,587,000 after buying an additional 5,436,317 shares in the last quarter. Finally, BNP Paribas Financial Markets purchased a new position in Toast in the 4th quarter worth approximately $83,684,000. Hedge funds and other institutional investors own 82.91% of the company's stock.

Toast Trading Down 0.1%

NYSE TOST traded down $0.06 during mid-day trading on Friday, reaching $46.56. 7,395,108 shares of the company's stock traded hands, compared to its average volume of 6,818,042. The company has a fifty day simple moving average of $43.43 and a 200-day simple moving average of $38.90. Toast, Inc. has a 1-year low of $22.10 and a 1-year high of $47.50. The company has a market cap of $23.19 billion, a price-to-earnings ratio of 202.43 and a beta of 2.00.

Wall Street Analyst Weigh In

A number of equities research analysts have recently issued reports on the stock. Wells Fargo & Company assumed coverage on shares of Toast in a research note on Wednesday. They issued a "buy" rating for the company. DA Davidson lowered their price target on shares of Toast from $42.00 to $40.00 and set a "neutral" rating for the company in a report on Wednesday, April 30th. Jefferies Financial Group upped their price target on shares of Toast from $50.00 to $54.00 and gave the company a "buy" rating in a report on Friday. Wall Street Zen lowered shares of Toast from a "buy" rating to a "hold" rating in a report on Saturday, July 5th. Finally, The Goldman Sachs Group lowered their price target on shares of Toast from $43.00 to $38.00 and set a "neutral" rating for the company in a report on Wednesday, April 2nd. Twelve equities research analysts have rated the stock with a hold rating and fifteen have assigned a buy rating to the stock. According to data from MarketBeat, the stock currently has an average rating of "Moderate Buy" and an average target price of $43.17.

Insider Transactions at Toast

In other news, CRO Jonathan Vassil sold 6,592 shares of Toast stock in a transaction on Wednesday, July 2nd. The stock was sold at an average price of $42.59, for a total transaction of $280,753.28. Following the transaction, the executive directly owned 61,791 shares in the company, valued at approximately $2,631,678.69. This trade represents a 9.64% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, General Counsel Brian R. Elworthy sold 5,681 shares of Toast stock in a transaction on Wednesday, July 2nd. The stock was sold at an average price of $42.59, for a total value of $241,953.79. Following the completion of the transaction, the general counsel owned 221,767 shares in the company, valued at $9,445,056.53. The trade was a 2.50% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 466,131 shares of company stock worth $20,048,851 over the last quarter. Insiders own 13.32% of the company's stock.

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.