Hudson Bay Capital Management LP Makes New Investment in Toast, Inc. $TOST

Hudson Bay Capital Management LP bought a new position in shares of Toast, Inc. (NYSE:TOST) during the 2nd quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor bought 153,236 shares of the company’s stock, valued at approximately $6,787,000.

Other institutional investors have also modified their holdings of the company. Roundview Capital LLC increased its holdings in Toast by 0.6% during the 2nd quarter. Roundview Capital LLC now owns 43,619 shares of the company’s stock worth $1,932,000 after purchasing an additional 245 shares during the period. GAMMA Investing LLC boosted its holdings in shares of Toast by 7.2% in the 2nd quarter. GAMMA Investing LLC now owns 4,139 shares of the company’s stock valued at $183,000 after buying an additional 278 shares in the last quarter. True Vision MN LLC grew its holdings in shares of Toast by 3.6% during the second quarter. True Vision MN LLC now owns 8,186 shares of the company’s stock worth $363,000 after purchasing an additional 285 shares during the last quarter. Advisors Asset Management Inc. grew its stake in Toast by 7.3% during the 1st quarter. Advisors Asset Management Inc. now owns 4,439 shares of the company’s stock worth $147,000 after buying an additional 301 shares during the last quarter. Finally, Parkside Financial Bank & Trust increased its holdings in shares of Toast by 4.6% in the 2nd quarter. Parkside Financial Bank & Trust now owns 6,921 shares of the company’s stock valued at $307,000 after acquiring an additional 306 shares during the period. Institutional investors and hedge funds own 82.91% of the company’s stock.

Wall Street Analysts Forecast Growth

TOST has been the topic of several recent research reports. BNP Paribas Exane upgraded Toast from a “neutral” rating to an “outperform” rating and set a $40.00 price target on the stock in a research report on Monday, December 1st. BNP Paribas raised Toast from a “hold” rating to an “outperform” rating and set a $40.00 target price for the company in a report on Monday, December 1st. UBS Group set a $43.00 price target on Toast in a report on Thursday, December 4th. Keefe, Bruyette & Woods dropped their target price on shares of Toast from $50.00 to $42.00 and set a “market perform” rating for the company in a report on Wednesday, October 1st. Finally, Weiss Ratings reissued a “hold (c-)” rating on shares of Toast in a report on Monday, December 8th. Two investment analysts have rated the stock with a Strong Buy rating, fourteen have assigned a Buy rating and eight have assigned a Hold rating to the company. Based on data from MarketBeat.com, Toast has a consensus rating of “Moderate Buy” and an average target price of $45.18.

Insider Buying and Selling

In related news, CRO Jonathan Vassil sold 1,442 shares of the business’s stock in a transaction dated Tuesday, November 4th. The stock was sold at an average price of $35.54, for a total value of $51,248.68. Following the transaction, the executive owned 71,424 shares in the company, valued at approximately $2,538,408.96. The trade was a 1.98% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, CEO Aman Narang sold 1,732 shares of the stock in a transaction that occurred on Tuesday, November 4th. The shares were sold at an average price of $35.54, for a total value of $61,555.28. Following the transaction, the chief executive officer owned 319,939 shares of the company’s stock, valued at approximately $11,370,632.06. This trade represents a 0.54% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders have sold 49,759 shares of company stock valued at $1,769,270 over the last three months. Company insiders own 12.14% of the company’s stock.

Toast Price Performance

Shares of NYSE:TOST opened at $34.77 on Tuesday. Toast, Inc. has a 12 month low of $28.12 and a 12 month high of $49.66. The business has a 50-day moving average of $35.94 and a two-hundred day moving average of $40.51. The firm has a market capitalization of $17.91 billion, a PE ratio of 80.86 and a beta of 1.94.

Toast (NYSE:TOST) last announced its quarterly 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). Toast had a net margin of 4.68% and a return on equity of 15.77%. The business had revenue of $1.63 billion for the quarter, compared to analyst estimates of $1.58 billion. During the same period last year, the firm earned $0.07 earnings per share. The company’s quarterly revenue was up 25.1% on a year-over-year basis. As a group, research analysts anticipate that Toast, Inc. will post 0.39 earnings per share for the current year.

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.