During the third quarter, Benjamin Edwards Inc. increased its holdings in AppLovin by 21.5%, acquiring an additional 802 shares to reach a total of 4,530 shares valued at approximately $3.255 million as of the latest SEC filing. This move highlights growing confidence from regional wealth managers in AppLovin’s long-term growth trajectory.

Several major institutions also adjusted their stakes in AppLovin over the past two quarters. Norges Bank initiated a new position valued at roughly $951.5 million in Q2. South Korea’s National Pension Service boosted its holding by 82.2% to 790,271 shares worth $276.7 million, while Voya Investment Management expanded by 235.5% to 496,560 shares valued at $356.8 million. Canada Pension Plan Investment Board grew its stake by 204.8%, adding 285,970 shares for a total of 425,622 shares valued at $149.0 million. Brevan Howard Capital Management entered a new position of about $92.3 million in Q2. Institutional ownership now represents 41.85% of the company’s outstanding stock.

In its most recent quarter, AppLovin reported revenue of $1.41 billion, marking a 68.2% year-over-year increase, and delivered earnings per share of $2.45, exceeding the prior year’s $1.29 by 90%. The company achieved a net margin of 51.27% and a return on equity of 258.49%. Analysts surveyed by the consensus expect full-year EPS to reach 6.87, reflecting continued profitability and operational leverage in its advertising platform.

Last year AppLovin divested its mobile gaming division to Tripledot Studios in exchange for $400 million in cash and a 20% equity stake, repositioning itself as a pure-play ad tech company. Through the first three quarters of the year, the firm generated $3.82 billion in revenue, up 72%, and GAAP net income of $2.23 billion, up 128%, achieving a profit margin near 60%. The company has leveraged its Axon AI advertising technology to expand beyond gaming into e-commerce and international markets, while successfully defending against short-seller campaigns.