Toast, Inc. (NYSE:TOST) Shares Bought by Neo Ivy Capital Management

Neo Ivy Capital Management grew its position in shares of Toast, Inc. (NYSE:TOST - Free Report) by 104.9% during the 4th quarter, according to the company in its most recent disclosure with the SEC. The fund owned 91,554 shares of the company's stock after purchasing an additional 46,878 shares during the quarter. Neo Ivy Capital Management's holdings in Toast were worth $3,337,000 as of its most recent filing with the SEC.

A number of other hedge funds and other institutional investors have also made changes to their positions in TOST. Blue Trust Inc. raised its position in Toast by 120.4% in 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. Piscataqua Savings Bank purchased a new position in Toast during the 4th quarter worth $26,000. Stonebridge Financial Group LLC acquired a new position in Toast in the fourth quarter valued at $34,000. SBI Securities Co. Ltd. purchased a new stake in shares of Toast in the fourth quarter valued at about $35,000. Finally, Wingate Wealth Advisors Inc. acquired a new stake in shares of Toast during the fourth quarter worth about $40,000. Institutional investors and hedge funds own 82.91% of the company's stock.

Toast Trading Down 1.1%

Shares of NYSE:TOST traded down $0.46 during midday trading on Wednesday, hitting $42.29. 2,373,401 shares of the stock were exchanged, compared to its average volume of 6,840,605. Toast, Inc. has a twelve month low of $21.32 and a twelve month high of $45.56. The company has a 50 day moving average price of $36.77 and a 200-day moving average price of $37.90. The stock has a market cap of $21.06 billion, a P/E ratio of -4,222.98, a PEG ratio of 2.16 and a beta of 1.98.

Analyst Upgrades and Downgrades

Several brokerages recently issued reports on TOST. DA Davidson dropped their price target on Toast from $42.00 to $40.00 and set a "neutral" rating on the stock in a research report on Wednesday, April 30th. Evercore ISI began coverage on Toast in a report on Wednesday, April 9th. They issued an "in-line" rating and a $29.00 target price on the stock. The Goldman Sachs Group cut their price target on Toast from $43.00 to $38.00 and set a "neutral" rating for the company in a research note on Wednesday, April 2nd. BNP Paribas set a $37.00 price objective on shares of Toast and gave the company a "neutral" rating in a research report on Wednesday, February 19th. Finally, Morgan Stanley boosted their price objective on shares of Toast from $46.00 to $50.00 and gave the company an "overweight" rating in a research note on Friday, May 9th. Twelve equities research analysts have rated the stock with a hold rating, eleven have issued a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat.com, the company has a consensus rating of "Moderate Buy" and an average price target of $40.91.

Insider Activity

In other news, President Stephen Fredette sold 70,340 shares of the company's stock in a transaction on Friday, March 7th. The stock was sold at an average price of $33.87, for a total value of $2,382,415.80. Following the sale, the president now directly owns 1,574,316 shares in the company, valued at $53,322,082.92. This represents a 4.28% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Deval L. Patrick sold 34,222 shares of Toast stock in a transaction dated Thursday, March 13th. The stock was sold at an average price of $33.01, for a total value of $1,129,668.22. Following the sale, the director now owns 13,260 shares of the company's stock, valued at approximately $437,712.60. This represents a 72.07% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 416,991 shares of company stock worth $15,242,750 over the last ninety days. 13.32% of the stock is currently owned by insiders.

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.