Icon Wealth Advisors LLC Sells 7,562 Shares of Toast, Inc. (NYSE:TOST)

Icon Wealth Advisors LLC cut its position in shares of Toast, Inc. (NYSE:TOST) by 68.3% during the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. 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 at the end of the most recent quarter.

Other institutional investors and hedge funds have also modified their holdings of the company. LRI Investments LLC acquired a new position in shares of Toast in the 1st quarter valued at $27,000. West Branch Capital LLC acquired a new position in Toast during the second quarter worth $26,000. Toth Financial Advisory Corp acquired a new stake in shares of Toast in the third quarter valued at about $28,000. Thurston Springer Miller Herd & Titak Inc. bought a new position in shares of Toast in the second quarter valued at $33,000. Finally, 1620 Investment Advisors Inc. acquired a new position in shares of Toast during the 2nd quarter worth about $34,000. 82.91% of the stock is currently owned by institutional investors.

Insider Buying and Selling at Toast

In related news, President Stephen Fredette sold 101,574 shares of the company’s stock in a transaction dated Thursday, September 12th. The stock was sold at an average price of $25.73, for a total value of $2,613,499.02. Following the completion of the transaction, the president now owns 2,395,685 shares of the company’s stock, valued at approximately $61,640,975.05. This represents a 4.07 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, CEO Aman Narang sold 10,106 shares of the company’s stock in a transaction on Wednesday, October 2nd. The stock was sold at an average price of $27.77, for a total transaction of $280,643.62. Following the transaction, the chief executive officer now owns 968,095 shares of the company’s stock, valued at $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. In the last 90 days, insiders have sold 1,498,536 shares of company stock worth $43,997,467. 13.32% of the stock is currently owned by insiders.

Wall Street Analyst Weigh In

Several research firms have commented on TOST. Compass Point initiated coverage on shares of Toast in a report on Wednesday, November 20th. They issued a “buy” rating and a $49.00 price objective on the stock. Stephens upped their price objective on shares of Toast from $28.00 to $30.00 and gave the stock an “equal weight” rating in a research report on Friday, October 18th. Wells Fargo & Company upped their price objective on Toast from $23.00 to $25.00 and gave the stock an “underweight” rating in a research report on Friday, November 8th. DA Davidson upped their price target on shares of Toast from $35.00 to $44.00 and gave the stock a “buy” rating in a report on Tuesday, November 12th. Finally, Royal Bank of Canada boosted their target price on shares of Toast from $27.00 to $40.00 and gave the stock a “sector perform” rating in a report on Friday, November 8th. One analyst has rated the stock with a sell rating, ten have issued a hold rating and eleven have issued a buy rating to the company. Based on data from MarketBeat.com, the company has a consensus rating of “Hold” and a consensus price target of $33.86.

Toast Stock Performance

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 company’s 50-day simple moving average is $31.45 and its 200-day simple moving average is $27.20.

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.