5 Stocks Under $20 To Buy Now

3. Toast, Inc. (NYSE:TOST)

Share Price as of November 23: $28.27

Number of Hedge Fund Holders: 66

Toast, Inc. (NYSE:TOST), based in Boston, Massachusetts, is a software company that provides a cloud based restaurant point of sale and management software system to run their business across point of sale, operations, digital ordering and delivery, marketing and loyalty, and team management.

On November 7, Toast, Inc. (NYSE:TOST) released its financial results for Q3 2023. Its revenues increased by 37% y-o-y to $1.0 billion, while net loss declined by 68% y-o-y to $31 million. The company also upgraded its full year outlook for revenue to $3.83 billion to $3.86 billion and adjusted EBITDA to $38 million to $48 million.

As of Q3 2023, Toast, Inc. (NYSE:TOST) shares were held by 46 hedge funds with the total shares held by them valued at $1.6 billion. Mick Hellman’s HMI Capital was its largest hedge fund shareholder with ownership of 14.4 million shares valued at $269 million.