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

Bayesian Capital Management LP acquired a new stake in shares of Toast, Inc. (NYSE:TOST) in the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor acquired 109,700 shares of the company’s stock, valued at approximately $2,734,000.

A number of other institutional investors and hedge funds also recently modified their holdings of TOST. Park Avenue Securities LLC increased its position in Toast by 1.0% during the 1st quarter. Park Avenue Securities LLC now owns 43,357 shares of the company’s stock worth $1,080,000 after purchasing an additional 436 shares in the last quarter. Wellington Shields & Co. LLC increased its position in Toast by 3.1% during the 1st quarter. Wellington Shields & Co. LLC now owns 16,700 shares of the company’s stock worth $416,000 after purchasing an additional 500 shares in the last quarter. Envestnet Portfolio Solutions Inc. increased its position in Toast by 5.9% during the 4th quarter. Envestnet Portfolio Solutions Inc. now owns 13,985 shares of the company’s stock worth $255,000 after purchasing an additional 774 shares in the last quarter. Orion Capital Management LLC increased its position in Toast by 22.5% during the 4th quarter. Orion Capital Management LLC now owns 4,350 shares of the company’s stock worth $79,000 after purchasing an additional 800 shares in the last quarter. Finally, M&T Bank Corp increased its position in Toast by 8.0% during the 4th quarter. M&T Bank Corp now owns 11,217 shares of the company’s stock worth $205,000 after purchasing an additional 829 shares in the last quarter. Institutional investors and hedge funds own 82.91% of the company’s stock.

Analysts Set New Price Targets

A number of research firms recently issued reports on TOST. Mizuho raised shares of Toast from a “neutral” rating to an “outperform” rating and increased their target price for the stock from $21.00 to $33.00 in a research report on Thursday, July 18th. Keefe, Bruyette & Woods reaffirmed a “market perform” rating and issued a $26.00 price objective on shares of Toast in a research report on Wednesday, May 29th. Wells Fargo & Company increased their price objective on shares of Toast from $17.00 to $19.00 and gave the company an “underweight” rating in a research report on Wednesday, May 8th. Needham & Company LLC reaffirmed a “buy” rating and issued a $30.00 price objective on shares of Toast in a research report on Thursday, May 30th. Finally, Robert W. Baird downgraded shares of Toast from an “outperform” rating to a “neutral” rating and set a $28.00 price objective for the company. in a research report on Tuesday, May 21st. One investment analyst has rated the stock with a sell rating, nine have given a hold rating and ten have given a buy rating to the company’s stock. Based on data from MarketBeat.com, Toast currently has an average rating of “Hold” and a consensus price target of $26.65.

Insider Buying and Selling at Toast

In other Toast news, Director Christopher P. Comparato sold 90,000 shares of the firm’s stock in a transaction on Wednesday, July 17th. The stock was sold at an average price of $26.54, for a total value of $2,388,600.00. Following the sale, the director now directly owns 112,282 shares in the company, valued at $2,979,964.28. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. In other news, CRO Jonathan Vassil sold 100,000 shares of the firm’s stock in a transaction on Monday, July 15th. The stock was sold at an average price of $25.55, for a total transaction of $2,555,000.00. Following the transaction, the executive now directly owns 31,919 shares of the company’s stock, valued at $815,530.45. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Christopher P. Comparato sold 90,000 shares of the firm’s stock in a transaction on Wednesday, July 17th. The shares were sold at an average price of $26.54, for a total value of $2,388,600.00. Following the transaction, the director now directly owns 112,282 shares in the company, valued at $2,979,964.28. The disclosure for this sale can be found here. Over the last three months, insiders have sold 368,455 shares of company stock worth $9,410,466. 13.32% of the stock is owned by insiders.

Toast Stock Performance

TOST remained flat at $26.00 during trading hours on Tuesday. The company had a trading volume of 2,274,780 shares, compared to its average volume of 7,849,788. The stock has a 50 day simple moving average of $24.86 and a 200-day simple moving average of $23.21. Toast, Inc. has a 52-week low of $13.77 and a 52-week high of $27.90. The firm has a market capitalization of $11.78 billion, a PE ratio of -52.56 and a beta of 1.76.

Toast (NYSE:TOST) last announced its quarterly earnings data on Tuesday, May 7th. The company reported ($0.15) earnings per share (EPS) for the quarter, hitting the consensus estimate of ($0.15). Toast had a negative return on equity of 21.45% and a negative net margin of 6.02%. The firm had revenue of $1.08 billion for the quarter, compared to analysts’ expectations of $1.04 billion. During the same period last year, the business posted ($0.16) earnings per share. The firm’s revenue for the quarter was up 31.3% on a year-over-year basis. As a group, equities research analysts anticipate that Toast, Inc. will post -0.14 earnings per share for the current fiscal year.

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.