Toast, Inc. (NYSE:TOST) Shares Sold by Icon Wealth Advisors LLC

Icon Wealth Advisors LLC lessened its stake in Toast, Inc. (NYSE:TOST) by 68.3% in the 3rd quarter, HoldingsChannel.com reports. The institutional investor owned 3,507 shares of the company’s stock after selling 7,562 shares during the quarter. Icon Wealth Advisors LLC’s holdings in Toast were worth $99,000 as of its most recent SEC filing.

A number of other institutional investors also recently added to or reduced their stakes in TOST. West Branch Capital LLC purchased a new stake in Toast during the 2nd quarter worth about $26,000. LRI Investments LLC acquired a new stake in shares of Toast in the first quarter valued at approximately $27,000. Toth Financial Advisory Corp purchased a new position in Toast during the 3rd quarter worth $28,000. Thurston Springer Miller Herd & Titak Inc. acquired a new position in Toast in the 2nd quarter valued at about $33,000. Finally, 1620 Investment Advisors Inc. acquired a new position in shares of Toast in the second quarter valued at approximately $34,000. Hedge funds and other institutional investors own 82.91% of the company’s stock.

Toast Stock Up 0.9 %

Shares of NYSE:TOST opened at $42.74 on Monday. Toast, Inc. has a fifty-two week low of $13.92 and a fifty-two week high of $43.29. The firm has a 50-day simple moving average of $31.45 and a 200 day simple moving average of $27.20.

Insider Buying and Selling

In other news, Director Richard Kent Bennett sold 22,885 shares of Toast stock in a transaction that occurred on Wednesday, November 20th. The shares were sold at an average price of $41.96, for a total value of $960,254.60. Following the transaction, the director now directly owns 395,706 shares of the company’s stock, valued at $16,603,823.76. This trade represents a 5.47 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, CEO Aman Narang sold 10,106 shares of the stock in a transaction dated Wednesday, October 2nd. The stock was sold at an average price of $27.77, for a total value of $280,643.62. Following the completion of the sale, the chief executive officer now directly owns 968,095 shares of the company’s stock, valued at approximately $26,883,998.15. This represents a 1.03 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 1,498,536 shares of company stock worth $43,997,467 in the last three months. 13.32% of the stock is owned by insiders.

Analyst Ratings Changes

Several analysts have recently commented on TOST shares. Compass Point started coverage on Toast in a report on Wednesday, November 20th. They issued a “buy” rating and a $49.00 price target for the company. Morgan Stanley upped their price objective on shares of Toast from $30.00 to $33.00 and gave the company an “overweight” rating in a research note on Tuesday, October 22nd. Wedbush lifted their target price on Toast from $35.00 to $45.00 and gave the company an “outperform” rating in a report on Friday, November 8th. Needham & Company LLC reissued a “buy” rating and issued a $30.00 price objective on shares of Toast in a research report on Wednesday, August 7th. Finally, The Goldman Sachs Group raised their target price on Toast from $29.00 to $33.00 and gave the company a “buy” rating in a report on Monday, October 14th. One research analyst has rated the stock with a sell rating, ten have given a hold rating and eleven have assigned a buy rating to the stock. According to MarketBeat.com, Toast has an average rating of “Hold” and an average price target of $33.86.

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.