During the third quarter, Abacus FCF Advisors LLC initiated a new position in Toast, Inc. by purchasing 354,272 shares valued at approximately $12.93 million, representing 1.7% of the firm’s overall investment portfolio and making it the fund’s 29th largest holding. At the end of the quarter, this stake accounted for roughly 0.07% of Toast’s total outstanding shares, underscoring the fund’s strategic move into the restaurant technology sector.

A range of institutional investors have adjusted their holdings in Toast over recent quarters. IFM Investors Pty Ltd increased its position by 29.2%, adding 18,950 shares to reach 83,803 shares valued at $3.71 million. K.J. Harrison & Partners Inc built a new stake worth $1.33 million, while Comerica Bank more than doubled its position in the first quarter—adding 42,266 shares to reach 76,644 shares valued at $2.54 million. Graham Capital Management L.P. expanded its holding by 373.5%, purchasing an additional 34,532 shares for a total of 43,778 shares valued at $1.45 million. Reliant Investment Partners LLC also initiated a position in the second quarter, investing approximately $472,000. Collectively, hedge funds and other institutional investors now control 82.91% of the company’s shares.

In the latest quarterly report, Toast reported earnings per share of $0.16, missing consensus estimates by $0.08, while revenue reached $1.63 billion—up 25.1% year-over-year and exceeding analyst forecasts by $50 million. The company delivered a 15.77% return on equity and a 4.68% net margin. Insider sales totaled 49,759 shares valued at $1.77 million over the past three months, leaving insiders with 12.14% ownership. On the analyst front, two firms have rated the stock as Strong Buy and fourteen as Buy, with an average price target of $45.18. Individual targets range from $40.00 to $42.00, reflecting growing confidence in the company’s ability to scale its high-margin software offerings.