Abacus FCF Advisors LLC Invests $12.93 Million in Toast, Inc. $TOST

Abacus FCF Advisors LLC purchased a new stake in shares of Toast, Inc. (NYSE:TOST) during the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund purchased 354,272 shares of the company’s stock, valued at approximately $12,934,000. Toast accounts for 1.7% of Abacus FCF Advisors LLC’s investment portfolio, making the stock its 29th largest holding. Abacus FCF Advisors LLC owned about 0.07% of Toast at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also bought and sold shares of the business. IFM Investors Pty Ltd lifted its holdings in shares of Toast by 29.2% in the 2nd quarter. IFM Investors Pty Ltd now owns 83,803 shares of the company’s stock worth $3,712,000 after acquiring an additional 18,950 shares during the last quarter. K.J. Harrison & Partners Inc purchased a new stake in Toast in the 2nd quarter worth about $1,329,000. Comerica Bank raised its position in Toast by 122.9% in the 1st quarter. Comerica Bank now owns 76,644 shares of the company’s stock worth $2,542,000 after purchasing an additional 42,266 shares during the period. Graham Capital Management L.P. lifted its stake in Toast by 373.5% in the first quarter. Graham Capital Management L.P. now owns 43,778 shares of the company’s stock worth $1,452,000 after purchasing an additional 34,532 shares during the last quarter. Finally, Reliant Investment Partners LLC purchased a new position in shares of Toast during the second quarter valued at approximately $472,000. Hedge funds and other institutional investors own 82.91% of the company’s stock.

Toast Trading Up 0.2%

Shares of TOST stock opened at $36.50 on Tuesday. Toast, Inc. has a 12-month low of $28.12 and a 12-month high of $49.66. The business’s fifty day simple moving average is $35.80 and its 200-day simple moving average is $40.05. The company has a market cap of $18.80 billion, a PE ratio of 84.88 and a beta of 1.94.

Toast (NYSE:TOST) last posted its quarterly earnings data on Tuesday, November 4th. The company reported $0.16 earnings per share for the quarter, missing analysts’ consensus estimates of $0.24 by ($0.08). Toast had a return on equity of 15.77% and a net margin of 4.68%.The business had revenue of $1.63 billion during the quarter, compared to analyst estimates of $1.58 billion. During the same period in the previous year, the business earned $0.07 EPS. The firm’s revenue for the quarter was up 25.1% compared to the same quarter last year. On average, equities analysts forecast that Toast, Inc. will post 0.39 earnings per share for the current year.

Insider Buying and Selling at Toast

In other Toast news, General Counsel Brian R. Elworthy sold 1,059 shares of the firm’s stock in a transaction on Tuesday, November 4th. The shares were sold at an average price of $35.54, for a total value of $37,636.86. Following the completion of the transaction, the general counsel owned 229,017 shares of the company’s stock, valued at approximately $8,139,264.18. This trade represents a 0.46% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, CRO Jonathan Vassil sold 1,442 shares of Toast stock in a transaction on Tuesday, November 4th. The stock was sold at an average price of $35.54, for a total transaction of $51,248.68. Following the sale, the executive owned 71,424 shares of the company’s stock, valued at $2,538,408.96. The trade was a 1.98% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. In the last three months, insiders have sold 49,759 shares of company stock valued at $1,769,270. Insiders own 12.14% of the company’s stock.

Analysts Set New Price Targets

A number of analysts have weighed in on TOST shares. BNP Paribas Exane upgraded Toast from a “neutral” rating to an “outperform” rating and set a $40.00 target price on the stock in a research note on Monday, December 1st. The Goldman Sachs Group decreased their price objective on shares of Toast from $51.00 to $41.00 and set a “neutral” rating for the company in a report on Monday, October 13th. Wells Fargo & Company raised shares of Toast to a “strong-buy” rating in a research report on Wednesday, October 22nd. DA Davidson set a $42.00 target price on shares of Toast in a research note on Wednesday, November 5th. Finally, Citigroup raised shares of Toast to a “strong-buy” rating in a research note on Thursday, October 23rd. Two equities research analysts have rated the stock with a Strong Buy rating, fourteen have given a Buy rating and eight have given a Hold rating to the company. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and an average price target of $45.18.

Toast Profile

Toast, Inc (NYSE: TOST) is a technology company that builds a cloud-based platform for restaurants and other foodservice businesses. Headquartered in Boston, Massachusetts, Toast offers integrated point-of-sale (POS) systems and a suite of software and hardware designed to streamline front-of-house and back-of-house operations. The company went public in 2021 and has positioned itself as a vertically integrated provider for the restaurant industry.

Toast’s product portfolio includes touchscreen POS terminals and handheld order-and-pay devices, kitchen display systems, and peripherals tailored for high-volume foodservice environments.