Insider Buying Alert: These 5 Stocks are Seeing Significant Insider Activity

1. Toast, Inc. (NYSE:TOST)

Number of Hedge Fund Holders: 48

On May 12 Toast, Inc. (NYSE:TOST) reported that its director, David Yuan, purchased 500,000 company shares for a total transaction amount of $9.91 million. On May 15, Yuan acquired an additional 135,000 company shares. The transaction was valued at $2.62 million. Toast, Inc. (NYSE:TOST) is placed high on our list of the top stocks that insiders are piling into right now.

On May 16, Mizuho analyst Dan Dolev raised his price target on Toast, Inc. (NYSE:TOST) to $25 from $23 and maintained a Buy rating on the shares.

At the end of Q1 2023, 48 hedge funds were long Toast, Inc. (NYSE:TOST) and disclosed stakes worth $1.71 billion in the company. This is compared to 47 positions in the previous quarter with stakes worth $1.54 billion. The hedge fund sentiment for the stock is positive. As of March 31, HMI Capital is the leading investor in the company and has a stake worth $279 million.

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