Penserra Capital Management LLC Has $12.60 Million Stock Holdings in Toast, Inc. $TOST

Penserra Capital Management LLC decreased its position in Toast, Inc. (NYSE:TOST) by 18.9% during the 2nd quarter, according to its most recent filing with the SEC. The institutional investor owned 284,461 shares of the company’s stock after selling 66,504 shares during the period. Penserra Capital Management LLC’s holdings in Toast were worth $12,597,000 as of its most recent filing with the SEC.

Several other hedge funds also recently made changes to their positions in the business. Ameritas Advisory Services LLC bought a new stake in shares of Toast in the second quarter worth $31,000. REAP Financial Group LLC increased its stake in Toast by 173.3% in the 2nd quarter. REAP Financial Group LLC now owns 798 shares of the company’s stock valued at $35,000 after buying an additional 506 shares during the last quarter. SBI Securities Co. Ltd. lifted its position in Toast by 29.2% during the 1st quarter. SBI Securities Co. Ltd. now owns 1,257 shares of the company’s stock worth $42,000 after buying an additional 284 shares in the last quarter. Motco acquired a new position in shares of Toast during the 2nd quarter worth about $44,000. Finally, Cullen Frost Bankers Inc. grew its holdings in shares of Toast by 1,383.8% in the 2nd quarter. Cullen Frost Bankers Inc. now owns 1,009 shares of the company’s stock valued at $45,000 after acquiring an additional 941 shares in the last quarter. 82.91% of the stock is owned by institutional investors.

Insider Activity at Toast

In other news, General Counsel Brian R. Elworthy sold 1,059 shares of the business’s stock in a transaction dated Tuesday, November 4th. The shares were sold at an average price of $35.54, for a total value of $37,636.86. Following the completion of the sale, the general counsel owned 229,017 shares of the company’s stock, valued at approximately $8,139,264.18. The trade was a 0.46% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, CRO Jonathan Vassil sold 1,442 shares of the business’s stock in a transaction dated Tuesday, November 4th. The shares were sold at an average price of $35.54, for a total transaction of $51,248.68. Following the completion of the sale, the executive directly owned 71,424 shares of the company’s stock, valued at $2,538,408.96. This represents a 1.98% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. In the last ninety days, insiders have sold 62,259 shares of company stock valued at $2,299,020. 12.14% of the stock is currently owned by insiders.

Toast Stock Up 1.7%

Shares of TOST stock opened at $36.99 on Friday. Toast, Inc. has a 12-month low of $28.12 and a 12-month high of $49.66. The company has a market capitalization of $19.05 billion, a PE ratio of 86.02 and a beta of 1.94. The firm has a 50 day moving average price of $38.33 and a two-hundred day moving average price of $41.42.

Toast (NYSE:TOST) last announced its earnings results on Tuesday, November 4th. The company reported $0.16 earnings per share for the quarter, missing analysts’ consensus estimates of $0.24 by ($0.08). The firm had revenue of $1.63 billion for the quarter, compared to the consensus estimate of $1.58 billion. Toast had a return on equity of 15.77% and a net margin of 4.68%.Toast’s revenue for the quarter was up 25.1% on a year-over-year basis. During the same quarter last year, the business posted $0.07 EPS. As a group, research analysts expect that Toast, Inc. will post 0.39 EPS for the current year.

Wall Street Analysts Forecast Growth

Several research firms recently issued reports on TOST. Canaccord Genuity Group upped their target price on Toast from $48.00 to $54.00 and gave the stock a “buy” rating in a report on Wednesday, August 6th. Truist Financial set a $47.00 price objective on Toast in a report on Friday, October 24th. JPMorgan Chase & Co. lowered their target price on shares of Toast from $52.00 to $43.00 and set a “neutral” rating on the stock in a report on Wednesday. Royal Bank Of Canada set a $45.00 price target on shares of Toast in a research note on Wednesday. Finally, Needham & Company LLC boosted their price objective on shares of Toast from $50.00 to $60.00 and gave the stock a “buy” rating in a research note on Wednesday, August 6th. Two research analysts have rated the stock with a Strong Buy rating, twelve have given a Buy rating and ten have assigned a Hold rating to the company’s stock. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus target price of $45.64.

Toast 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.