During the third quarter, Abacus FCF Advisors LLC initiated a position in Toast, Inc., acquiring 354,272 shares at an aggregate cost of approximately $12.93 million. This new holding represents 1.7% of the firm’s overall investment portfolio, making Toast its 29th largest position. As of the end of the reporting period, Abacus FCF Advisors held roughly 0.07% of Toast’s total share count.

Institutional interest in Toast remains elevated, with hedge funds and other institutions collectively owning 82.91% of the company’s outstanding stock. Key moves in recent quarters include IFM Investors increasing its stake by 29.2% to 83,803 shares, Comerica Bank more than doubling its position to 76,644 shares after a 122.9% increase, and Graham Capital Management expanding its holding by 373.5% to 43,778 shares. New entrants such as K.J. Harrison & Partners and Reliant Investment Partners also established positions valued at $1.33 million and $0.47 million respectively.

In its latest quarterly report, Toast delivered revenue of $1.63 billion, up 25.1% year-over-year and exceeding consensus estimates by $50 million. However, earnings per share of $0.16 fell short of the $0.24 analyst consensus, reflecting margin pressure despite a net margin of 4.68% and a return on equity of 15.77%. The company’s rapid top-line growth underscores demand for its cloud-based restaurant platform, even as profitability metrics remain under scrutiny.

Insiders have been net sellers over the past three months, divesting 49,759 shares for proceeds of $1.77 million. Notable transactions include the General Counsel’s sale of 1,059 shares and the CRO’s sale of 1,442 shares, each at an average of $35.54 per share, reducing their individual ownership stakes by 0.46% and 1.98% respectively. On the street, two firms maintain strong-buy ratings, fourteen recommend buy and eight suggest hold, resulting in an average analyst recommendation of Moderate Buy with an average target near $45.