Neo Ivy Capital Management Makes New $1.26 Million Investment in Toast, Inc. (NYSE:TOST)

Neo Ivy Capital Management acquired a new stake in shares of Toast, Inc. (NYSE:TOST - Free Report) in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm acquired 44,676 shares of the company's stock, valued at approximately $1,264,000.

Other hedge funds have also recently added to or reduced their stakes in the company. ValueAct Holdings L.P. purchased a new position in shares of Toast in the third quarter worth about $438,301,000. FMR LLC grew its holdings in shares of Toast by 50.5% during the 3rd quarter. FMR LLC now owns 24,449,743 shares of the company's stock worth $692,172,000 after acquiring an additional 8,205,053 shares during the period. Assenagon Asset Management S.A. grew its holdings in shares of Toast by 2,889.8% during the 3rd quarter. Assenagon Asset Management S.A. now owns 3,829,995 shares of the company's stock worth $108,427,000 after acquiring an additional 3,701,893 shares during the period. Marshall Wace LLP grew its holdings in shares of Toast by 175.8% during the 2nd quarter. Marshall Wace LLP now owns 2,517,288 shares of the company's stock worth $64,871,000 after acquiring an additional 1,604,716 shares during the period. Finally, Worldquant Millennium Advisors LLC grew its holdings in shares of Toast by 1,475.0% during the 3rd quarter. Worldquant Millennium Advisors LLC now owns 850,965 shares of the company's stock worth $24,091,000 after acquiring an additional 796,936 shares during the period. Institutional investors own 82.91% of the company's stock.

Toast Trading Up 0.8 %

Shares of NYSE:TOST traded up $0.31 on Wednesday, hitting $38.58. 2,579,151 shares of the company were exchanged, compared to its average volume of 7,410,280. The firm has a market capitalization of $18.17 billion, a P/E ratio of -294.46, a price-to-earnings-growth ratio of 23.81 and a beta of 1.92. The stock's 50 day moving average price is $34.72 and its 200 day moving average price is $28.41. Toast, Inc. has a 1-year low of $15.15 and a 1-year high of $44.12.

Insider Buying and Selling at Toast

In other news, General Counsel Brian R. Elworthy sold 2,878 shares of the company's stock in a transaction that occurred on Wednesday, October 2nd. The shares were sold at an average price of $27.77, for a total value of $79,922.06. Following the transaction, the general counsel now directly owns 177,836 shares in the company, valued at approximately $4,938,505.72. This represents a 1.59 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, President Stephen Fredette sold 144,238 shares of the company's stock in a transaction that occurred on Friday, September 20th. The stock was sold at an average price of $27.34, for a total transaction of $3,943,466.92. Following the completion of the transaction, the president now owns 2,160,499 shares in the company, valued at approximately $59,068,042.66. This represents a 6.26 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders sold 1,476,635 shares of company stock valued at $47,170,681. Corporate insiders own 13.32% of the company's stock.

Analysts Set New Price Targets

TOST has been the topic of a number of analyst reports. Wedbush boosted their price target on Toast from $35.00 to $45.00 and gave the stock an "outperform" rating in a research report on Friday, November 8th. Deutsche Bank Aktiengesellschaft upped their price objective on Toast from $24.00 to $30.00 and gave the company a "hold" rating in a research report on Monday, November 4th. Wells Fargo & Company upped their price objective on Toast from $23.00 to $25.00 and gave the company an "underweight" rating in a research report on Friday, November 8th. Compass Point initiated coverage on Toast in a report on Wednesday, November 20th. They set a "buy" rating and a $49.00 price target on the stock. Finally, Royal Bank of Canada increased their price target on Toast from $27.00 to $40.00 and gave the company a "sector perform" rating in a report on Friday, November 8th. One research analyst has rated the stock with a sell rating, twelve have issued a hold rating and nine have given a buy rating to the company's stock. Based on data from MarketBeat, Toast has an average rating of "Hold" and a consensus target price of $34.81.

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.