Motley Fool Wealth Management LLC Has $13.70 Million Stock Position in Toast, Inc. (NYSE:TOST)

Motley Fool Wealth Management LLC cut its stake in shares of Toast, Inc. (NYSE:TOST) by 1.7% in the 3rd quarter, Holdings Channel reports. The institutional investor owned 484,049 shares of the company’s stock after selling 8,271 shares during the quarter. Motley Fool Wealth Management LLC’s holdings in Toast were worth $13,703,000 at the end of the most recent reporting period.

Other large investors also recently modified their holdings of the company. IHT Wealth Management LLC raised its holdings in Toast by 2.7% in the 3rd quarter. IHT Wealth Management LLC now owns 22,167 shares of the company’s stock valued at $628,000 after buying an additional 583 shares during the last quarter. Investment Management Corp of Ontario increased its position in Toast by 53.8% in the 3rd quarter. Investment Management Corp of Ontario now owns 12,011 shares of the company’s stock valued at $340,000 after acquiring an additional 4,200 shares during the period. Ascent Group LLC raised its stake in shares of Toast by 35.8% during the third quarter. Ascent Group LLC now owns 17,550 shares of the company’s stock valued at $497,000 after acquiring an additional 4,625 shares during the last quarter. Atom Investors LP acquired a new position in shares of Toast during the third quarter worth $1,114,000. Finally, Edgestream Partners L.P. bought a new stake in shares of Toast in the third quarter worth $2,347,000. 82.91% of the stock is currently owned by institutional investors.

Insider Transactions at Toast

In other Toast news, President Stephen Fredette sold 211,686 shares of the company’s stock in a transaction on Tuesday, September 10th. The stock was sold at an average price of $23.57, for a total value of $4,989,439.02. Following the completion of the transaction, the president now owns 2,638,023 shares in the company, valued at $62,178,202.11. This represents a 7.43 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, CRO Jonathan Vassil sold 1,367 shares of the firm’s stock in a transaction on Monday, November 4th. The shares were sold at an average price of $31.08, for a total value of $42,486.36. Following the sale, the executive now directly owns 39,834 shares of the company’s stock, valued at approximately $1,238,040.72. This represents a 3.32 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 1,688,321 shares of company stock valued at $52,160,120 over the last ninety days. 13.32% of the stock is currently owned by insiders.

Toast Stock Performance

TOST opened at $42.43 on Wednesday. Toast, Inc. has a fifty-two week low of $14.45 and a fifty-two week high of $44.12. The company’s 50-day moving average is $33.67 and its 200 day moving average is $27.99.

Analyst Upgrades and Downgrades

TOST has been the topic of several recent research reports. DA Davidson lifted their target price on Toast from $35.00 to $44.00 and gave the stock a “buy” rating in a report on Tuesday, November 12th. Morgan Stanley raised their price objective on Toast from $30.00 to $33.00 and gave the stock an “overweight” rating in a research report on Tuesday, October 22nd. Wells Fargo & Company upped their target price on Toast from $23.00 to $25.00 and gave the company an “underweight” rating in a report on Friday, November 8th. Bank of America raised their price target on shares of Toast from $26.00 to $28.00 and gave the stock a “neutral” rating in a report on Tuesday, September 17th. Finally, Piper Sandler upped their price objective on shares of Toast from $25.00 to $35.00 and gave the company a “neutral” rating in a research note on Monday, November 11th. One analyst has rated the stock with a sell rating, eleven have issued a hold rating and ten have issued a buy rating to the company. According to MarketBeat, the company currently has an average rating of “Hold” and a consensus price target of $34.43.

About Toast

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.