Icon Wealth Advisors LLC Lowers Position in Toast, Inc. (NYSE:TOST)

Icon Wealth Advisors LLC lowered its stake in shares of Toast, Inc. (NYSE:TOST) by 31.9% during the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 7,542 shares of the company’s stock after selling 3,527 shares during the period. Icon Wealth Advisors LLC’s holdings in Toast were worth $214,000 at the end of the most recent reporting period.

Other hedge funds also recently made changes to their positions in the company. Tidal Investments LLC acquired a new position in shares of Toast in the 1st quarter valued at about $244,000. Comerica Bank lifted its position in Toast by 10.9% during the first quarter. Comerica Bank now owns 6,167 shares of the company’s stock valued at $154,000 after buying an additional 607 shares in the last quarter. LRI Investments LLC purchased a new stake in Toast during the first quarter worth approximately $27,000. DekaBank Deutsche Girozentrale increased its position in shares of Toast by 33.4% in the first quarter. DekaBank Deutsche Girozentrale now owns 36,483 shares of the company’s stock worth $880,000 after acquiring an additional 9,140 shares in the last quarter. Finally, DNB Asset Management AS raised its stake in shares of Toast by 21.6% in the 2nd quarter. DNB Asset Management AS now owns 56,818 shares of the company’s stock valued at $1,464,000 after acquiring an additional 10,097 shares during the period. Institutional investors and hedge funds own 82.91% of the company’s stock.

Insider Activity at Toast

In related news, President Stephen Fredette sold 101,574 shares of the business’s stock in a transaction dated Thursday, September 12th. The shares were sold at an average price of $25.73, for a total transaction of $2,613,499.02. Following the completion of the sale, the president now owns 2,395,685 shares of the company’s stock, valued at $61,640,975.05. This represents a 4.07 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. 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 transaction of $280,643.62. Following the sale, the chief executive officer now owns 968,095 shares in the company, valued at approximately $26,883,998.15. This trade represents a 1.03 % decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 1,688,321 shares of company stock valued at $52,160,120. Corporate insiders own 13.32% of the company’s stock.

Toast Stock Up 0.8 %

NYSE:TOST opened at $43.54 on Friday. The business’s 50 day moving average is $33.09 and its two-hundred day moving average is $27.77. Toast, Inc. has a 52 week low of $14.45 and a 52 week high of $44.12.

Analyst Upgrades and Downgrades

A number of analysts recently weighed in on the stock. Piper Sandler upped their price target on shares of Toast from $25.00 to $35.00 and gave the stock a “neutral” rating in a research report on Monday, November 11th. Morgan Stanley increased their target price on Toast from $30.00 to $33.00 and gave the company an “overweight” rating in a research note on Tuesday, October 22nd. Needham & Company LLC reiterated a “buy” rating and set a $30.00 target price on shares of Toast in a report on Wednesday, August 7th. Royal Bank of Canada upped their price target on Toast from $27.00 to $40.00 and gave the stock a “sector perform” rating in a report on Friday, November 8th. Finally, Robert W. Baird increased their price objective on shares of Toast from $30.00 to $38.00 and gave the company a “neutral” rating in a research report on Friday, November 8th. One analyst has rated the stock with a sell rating, ten have assigned a hold rating and eleven have issued a buy rating to the company. Based on data from MarketBeat.com, the company currently 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.