Aries Wealth Management Cuts Position in Toast, Inc. (NYSE:TOST)

Aries Wealth Management decreased its position in Toast, Inc. (NYSE:TOST) by 20.7% during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 7,660 shares of the company’s stock after selling 2,000 shares during the quarter. Aries Wealth Management’s holdings in Toast were worth $279,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds have also modified their holdings of the company. Allspring Global Investments Holdings LLC grew its holdings in shares of Toast by 129,058.5% in the fourth quarter. Allspring Global Investments Holdings LLC now owns 2,074,286 shares of the company’s stock valued at $75,466,000 after purchasing an additional 2,072,680 shares in the last quarter. True Vision MN LLC bought a new position in Toast during the fourth quarter valued at $279,000. Stonebridge Financial Group LLC purchased a new position in shares of Toast in the 4th quarter worth $34,000. Wingate Wealth Advisors Inc. bought a new stake in shares of Toast in the 4th quarter worth about $40,000. Finally, Newbridge Financial Services Group Inc. purchased a new stake in shares of Toast during the 4th quarter valued at about $42,000. 82.91% of the stock is owned by hedge funds and other institutional investors.

Toast Price Performance

TOST opened at $40.26 on Friday. The business’s fifty day simple moving average is $38.35 and its 200-day simple moving average is $32.77. Toast, Inc. has a 12-month low of $18.47 and a 12-month high of $44.12.

Insiders Place Their Bets

In other Toast news, Director Christopher P. Comparato sold 145,000 shares of the company’s stock in a transaction on Thursday, December 19th. The stock was sold at an average price of $36.04, for a total transaction of $5,225,800.00. Following the completion of the sale, the director now owns 182,451 shares in the company, valued at $6,575,534.04. This represents a 44.28 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Richard Kent Bennett sold 22,885 shares of the business’s stock in a transaction on Wednesday, November 20th. The stock was sold at an average price of $41.96, for a total value of $960,254.60. Following the completion of the transaction, the director now directly owns 395,706 shares of the company’s stock, valued at approximately $16,603,823.76. The trade was a 5.47 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 362,449 shares of company stock worth $14,538,099 in the last three months. Corporate insiders own 13.32% of the company’s stock.

Analyst Ratings Changes

TOST has been the subject of several recent research reports. Royal Bank of Canada lifted their price target on Toast from $27.00 to $40.00 and gave the stock a “sector perform” rating in a research report on Friday, November 8th. Keefe, Bruyette & Woods boosted their target price on Toast from $29.00 to $40.00 and gave the company a “market perform” rating in a research report on Monday, December 9th. Robert W. Baird raised their price target on Toast from $30.00 to $38.00 and gave the stock a “neutral” rating in a research report on Friday, November 8th. Piper Sandler boosted their price objective on shares of Toast from $25.00 to $35.00 and gave the company a “neutral” rating in a research report on Monday, November 11th. Finally, Oppenheimer initiated coverage on shares of Toast in a research note on Friday, January 24th. They issued an “outperform” rating and a $46.00 target price on the stock. One research analyst has rated the stock with a sell rating, twelve have given a hold rating and ten have given a buy rating to the company. According to MarketBeat.com, Toast presently has an average rating of “Hold” and a consensus price target of $36.09.

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.