During the third quarter, Abacus FCF Advisors LLC initiated a position in Toast, purchasing 354,272 shares valued at approximately $12.93 million according to its latest 13F filing with the SEC. This stake represents 1.7% of the firm’s total investment portfolio, making Toast its 29th largest holding, and accounts for roughly 0.07% of Toast’s outstanding shares as of the reporting period’s end.

Several institutional investors adjusted their exposure to Toast in recent quarters. IFM Investors increased its holding by 29.2% to 83,803 shares, while Comerica Bank more than doubled its position with a 122.9% boost to 76,644 shares. Graham Capital Management lifted its stake by 373.5% to 43,778 shares. New entrants included K.J. Harrison & Partners, which acquired a stake valued at approximately $1.33 million, and Reliant Investment Partners, which established a position worth roughly $472,000. In total, hedge funds and other institutions now own 82.91% of Toast’s shares.

Toast reported third-quarter revenue of $1.63 billion, a 25.1% increase year-over-year and ahead of consensus estimates by about $50 million. The company generated earnings per share of $0.16, falling short of consensus by $0.08, and delivered a net margin of 4.68% along with a 15.77% return on equity. Year-to-date results support an average analyst forecast of $0.39 in EPS for the full fiscal year.

Insiders have been net sellers in recent months, offloading a total of 49,759 shares valued at around $1.77 million. Notable transactions include the General Counsel’s sale of 1,059 shares (a 0.46% reduction in ownership) and the Chief Revenue Officer’s sale of 1,442 shares (a 1.98% reduction). Despite this, sell-side analysts remain broadly positive: two maintain strong-buy recommendations, fourteen recommend buy, and eight rate the shares a hold, resulting in an overall consensus of Moderate Buy.