Hudson Bay Capital Management LP Takes Position in Toast, Inc. (NYSE:TOST)

Hudson Bay Capital Management LP bought a new position in shares of Toast, Inc. (NYSE:TOST - Free Report) in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor bought 100,000 shares of the company's stock, valued at approximately $3,645,000.

A number of other large investors have also bought and sold shares of TOST. Sumitomo Mitsui DS Asset Management Company Ltd boosted its holdings in shares of Toast by 0.8% in the 4th quarter. Sumitomo Mitsui DS Asset Management Company Ltd now owns 38,632 shares of the company's stock valued at $1,408,000 after buying an additional 301 shares during the last quarter. Keel Point LLC lifted its holdings in Toast by 2.7% during the 4th quarter. Keel Point LLC now owns 12,269 shares of the company's stock valued at $447,000 after purchasing an additional 326 shares during the last quarter. EverSource Wealth Advisors LLC lifted its holdings in Toast by 11.6% during the 4th quarter. EverSource Wealth Advisors LLC now owns 3,435 shares of the company's stock valued at $125,000 after purchasing an additional 358 shares during the last quarter. Mirador Capital Partners LP lifted its holdings in Toast by 0.9% during the 4th quarter. Mirador Capital Partners LP now owns 41,938 shares of the company's stock valued at $1,529,000 after purchasing an additional 360 shares during the last quarter. Finally, Blue Trust Inc. lifted its holdings in Toast by 120.4% during the 4th quarter. Blue Trust Inc. now owns 692 shares of the company's stock valued at $25,000 after purchasing an additional 378 shares during the last quarter. 82.91% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

Several brokerages have issued reports on TOST. BMO Capital Markets raised their price target on Toast from $44.00 to $45.00 and gave the company an "outperform" rating in a report on Monday. Oppenheimer began coverage on Toast in a report on Friday, January 24th. They set an "outperform" rating and a $46.00 price target for the company. Needham & Company LLC reaffirmed a "buy" rating and set a $50.00 price target on shares of Toast in a report on Thursday, February 20th. Canaccord Genuity Group raised their price target on Toast from $43.00 to $48.00 and gave the company a "buy" rating in a report on Thursday, February 20th. Finally, BNP Paribas set a $37.00 price target on Toast and gave the company a "neutral" rating in a report on Wednesday, February 19th. Thirteen research analysts have rated the stock with a hold rating and eleven have issued a buy rating to the stock. According to MarketBeat, the company presently has a consensus rating of "Hold" and a consensus price target of $40.91.

Toast Stock Performance

Shares of NYSE TOST traded up $0.07 during mid-day trading on Thursday, reaching $45.16. The company had a trading volume of 7,645,391 shares, compared to its average volume of 6,878,177. Toast, Inc. has a one year low of $21.32 and a one year high of $45.56. The firm has a market cap of $22.49 billion, a price-to-earnings ratio of -4,511.49, a PEG ratio of 2.16 and a beta of 1.98. The business's 50-day simple moving average is $35.33 and its 200 day simple moving average is $37.21.

Toast (NYSE:TOST - Get Free Report) last issued its quarterly earnings results on Wednesday, February 19th. The company reported $0.05 EPS for the quarter, missing analysts' consensus estimates of $0.06 by ($0.01). Toast had a return on equity of 1.54% and a net margin of 0.40%. The company had revenue of $1.34 billion during the quarter, compared to the consensus estimate of $1.32 billion. On average, sell-side analysts anticipate that Toast, Inc. will post 0.39 EPS for the current year.

Insider Buying and Selling

In related news, Director Christopher P. Comparato sold 70,000 shares of the firm's stock in a transaction dated Wednesday, May 14th. The stock was sold at an average price of $44.74, for a total value of $3,131,800.00. Following the sale, the director now directly owns 187,140 shares of the company's stock, valued at $8,372,643.60. This trade represents a 27.22% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, President Stephen Fredette sold 70,340 shares of the firm's stock in a transaction dated Friday, March 7th. The shares were sold at an average price of $33.87, for a total value of $2,382,415.80. Following the completion of the sale, the president now directly owns 1,574,316 shares in the company, valued at $53,322,082.92. This trade represents a 4.28% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 405,991 shares of company stock worth $14,746,320. Company insiders own 13.32% of the company's stock.

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.