Penserra Capital Management LLC Cuts Stake in Toast, Inc. (NYSE:TOST)

Penserra Capital Management LLC reduced its stake in Toast, Inc. (NYSE:TOST - Free Report) by 6.8% during the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 350,965 shares of the company's stock after selling 25,729 shares during the quarter. Penserra Capital Management LLC owned 0.07% of Toast worth $11,641,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in TOST. Keel Point LLC increased its stake in shares of Toast by 2.7% during the 4th quarter. Keel Point LLC now owns 12,269 shares of the company's stock worth $447,000 after purchasing an additional 326 shares during the last quarter. EverSource Wealth Advisors LLC increased its stake in shares of Toast by 11.6% during the 4th quarter. EverSource Wealth Advisors LLC now owns 3,435 shares of the company's stock worth $125,000 after purchasing an additional 358 shares during the last quarter. Piscataqua Savings Bank increased its stake in shares of Toast by 57.1% during the 1st quarter. Piscataqua Savings Bank now owns 1,100 shares of the company's stock worth $36,000 after purchasing an additional 400 shares during the last quarter. Farther Finance Advisors LLC increased its stake in shares of Toast by 19.8% during the 4th quarter. Farther Finance Advisors LLC now owns 2,435 shares of the company's stock worth $89,000 after purchasing an additional 402 shares during the last quarter. Finally, Legacy Advisors LLC increased its stake in shares of Toast by 1.7% during the 1st quarter. Legacy Advisors LLC now owns 26,318 shares of the company's stock worth $873,000 after purchasing an additional 438 shares during the last quarter. 82.91% of the stock is owned by institutional investors.

Toast Stock Down 2.9%

NYSE:TOST traded down $1.30 during trading hours on Tuesday, reaching $43.53. The company had a trading volume of 13,194,393 shares, compared to its average volume of 6,788,672. The firm has a market cap of $21.68 billion, a price-to-earnings ratio of 189.26 and a beta of 2.00. The business's 50-day simple moving average is $41.91 and its two-hundred day simple moving average is $38.45. Toast, Inc. has a twelve month low of $22.10 and a twelve month high of $46.53.

Insiders Place Their Bets

In other Toast news, President Stephen Fredette sold 7,647 shares of the firm's stock in a transaction on Wednesday, July 2nd. The shares were sold at an average price of $42.59, for a total value of $325,685.73. Following the transaction, the president directly owned 889,017 shares of the company's stock, valued at approximately $37,863,234.03. This trade represents a 0.85% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CEO Aman Narang sold 13,829 shares of the firm's stock in a transaction on Wednesday, July 2nd. The shares were sold at an average price of $42.59, for a total transaction of $588,977.11. Following the completion of the transaction, the chief executive officer directly owned 302,498 shares in the company, valued at $12,883,389.82. This trade represents a 4.37% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders sold 536,131 shares of company stock valued at $22,443,551. 13.32% of the stock is currently owned by corporate insiders.

Analyst Upgrades and Downgrades

A number of brokerages recently commented on TOST. BMO Capital Markets upped their price target on shares of Toast from $44.00 to $45.00 and gave the company an "outperform" rating in a research note on Monday, May 12th. Piper Sandler lifted their price objective on Toast from $35.00 to $37.00 and gave the company a "neutral" rating in a report on Friday, May 9th. Wall Street Zen lowered Toast from a "buy" rating to a "hold" rating in a report on Saturday. Evercore ISI started coverage on shares of Toast in a research report on Wednesday, April 9th. They set an "in-line" rating and a $29.00 price objective for the company. Finally, The Goldman Sachs Group decreased their price target on Toast from $43.00 to $38.00 and set a "neutral" rating on the stock in a research note on Wednesday, April 2nd. Thirteen analysts have rated the stock with a hold rating and twelve have issued a buy rating to the company. According to MarketBeat.com, the company has a consensus rating of "Hold" and a consensus price target of $41.21.

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.