During the third quarter, GatePass Capital LLC initiated a position in RDDT by acquiring 5,022 shares valued at approximately $1,155,000, according to its latest SEC filing. Other major funds also adjusted their stakes: NewEdge Advisors LLC boosted its holding by 143.3% to 7,982 shares ($837,000) after adding 4,701 shares; Empowered Funds LLC established a new position valued at $213,000; UBS AM (a distinct business unit of UBS Asset Management Americas LLC) more than doubled its stake by 106.3%, purchasing an additional 111,780 shares to reach 216,960 shares ($22,759,000); Focus Partners Wealth increased its position by 40.8% to 10,224 shares ($1,073,000) via a 2,965-share purchase; and Geneos Wealth Management Inc. expanded its holding by 344.6% to 369 shares ($39,000).

Insiders have been net sellers over the past quarter, with Chief Product Officer Benjamin Seong Lee disposing of 3,320 shares at an average price of $260.22 for proceeds of $863,930.40, reducing his stake by 5.04% to 62,608 shares. Chief Operating Officer Jennifer L. Wong sold 39,167 shares at an average of $234.37 for total proceeds of $9,179,569.79, trimming her ownership by 3.20% to 1,184,528 shares. Over the last ninety days, insiders have offloaded 505,470 shares worth $109,018,861, leaving corporate insiders with 34.25% of total shares outstanding.

In its latest quarterly report, RDDT delivered earnings per share of $0.80, surpassing the consensus estimate of $0.50 by 60%. Revenue rose 67.9% year-over-year to $584.91 million, outpacing analysts’ forecast of $546.65 million. The company achieved a net margin of 18.33% and a return on equity of 14.94%. During the same period last year, RDDT posted $0.16 in earnings per share. Looking ahead, research analysts anticipate full-year earnings per share of approximately $1.12, underpinned by continued strength in advertising revenue and user engagement metrics.