Toast, Inc. (NYSE:TOST) Shares Sold by Penserra Capital Management LLC

Penserra Capital Management LLC cut its stake in shares of Toast, Inc. (NYSE:TOST - Free Report) by 6.8% in the 1st quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 350,965 shares of the company's stock after selling 25,729 shares during the period. Penserra Capital Management LLC owned approximately 0.07% of Toast worth $11,641,000 as of its most recent SEC filing.

A number of other hedge funds also recently added to or reduced their stakes in the stock. US Bancorp DE raised its holdings in Toast by 5.1% during the fourth quarter. US Bancorp DE now owns 41,765 shares of the company's stock worth $1,522,000 after purchasing an additional 2,022 shares in the last quarter. Jones Financial Companies Lllp increased its position in Toast by 139.6% during the 4th quarter. Jones Financial Companies Lllp now owns 3,609 shares of the company's stock worth $132,000 after purchasing an additional 2,103 shares during the period. SBI Securities Co. Ltd. purchased a new position in shares of Toast during the 4th quarter worth approximately $35,000. Charles Schwab Investment Management Inc. lifted its holdings in shares of Toast by 5.6% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 2,938,487 shares of the company's stock valued at $107,108,000 after buying an additional 155,446 shares during the period. Finally, Victory Capital Management Inc. boosted its stake in shares of Toast by 139.3% in the fourth quarter. Victory Capital Management Inc. now owns 118,839 shares of the company's stock valued at $4,332,000 after buying an additional 69,176 shares in the last quarter. 82.91% of the stock is owned by institutional investors and hedge funds.

Insider Activity at Toast

In related news, 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 transaction, the general counsel owned 221,767 shares in the company, valued at approximately $9,445,056.53. This trade represents a 2.50% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CRO Jonathan Vassil sold 6,592 shares of the firm's stock in a transaction dated Wednesday, July 2nd. The stock was sold at an average price of $42.59, for a total value of $280,753.28. Following the completion of the transaction, the executive owned 61,791 shares in the company, valued at approximately $2,631,678.69. This trade represents a 9.64% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders sold 536,131 shares of company stock worth $22,443,551. 13.32% of the stock is owned by corporate insiders.

Toast Price Performance

TOST stock traded up $1.25 during midday trading on Monday, hitting $44.83. The stock had a trading volume of 9,449,139 shares, compared to its average volume of 6,751,599. The firm has a market cap of $22.33 billion, a PE ratio of 194.91 and a beta of 2.00. The company's 50-day moving average price is $41.73 and its 200 day moving average price is $38.40. Toast, Inc. has a 12-month low of $22.10 and a 12-month high of $45.56.

Wall Street Analysts Forecast Growth

Several equities research analysts have commented on the stock. The Goldman Sachs Group decreased their target price on shares of Toast from $43.00 to $38.00 and set a "neutral" rating on the stock in a research report on Wednesday, April 2nd. DA Davidson lowered their target price on shares of Toast from $42.00 to $40.00 and set a "neutral" rating on the stock in a research report on Wednesday, April 30th. Evercore ISI began coverage on shares of Toast in a report on Wednesday, April 9th. They issued an "in-line" rating and a $29.00 target price for the company. Truist Financial began coverage on shares of Toast in a research report on Monday, June 2nd. They set a "buy" rating and a $48.00 price target for the company. Finally, Wolfe Research upgraded Toast from a "peer perform" rating to an "outperform" rating and set a $44.00 price target on the stock in a report on Wednesday, April 23rd. Thirteen investment analysts have rated the stock with a hold rating and twelve have given a buy rating to the stock. Based on data from MarketBeat.com, the stock has a consensus rating of "Hold" and a consensus price target of $41.21.

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.