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Columbus Hill Capital Management, L.P., managed by Kevin D. Eng, recently executed a significant transaction involving Meta Platforms, Inc. ((META)). The hedge fund reduced its position by 34,476 shares.
Recent Updates on Meta Platforms, Inc. stock
Meta Platforms, Inc. is undergoing significant organizational changes, including a 5% workforce reduction and increased hiring of machine learning engineers. The company is merging its Messenger and Facebook teams and is considering relocating its incorporation to Texas for a more favorable business environment. Financially, Meta is heavily investing in virtual and augmented reality, expecting to reach $100 billion in investments by the end of the year. The company has sold over 1 million Ray-Ban smart glasses in 2024, with 2025 marked as a pivotal year for further development. Consequently, Argus has raised Meta’s stock price target from $686 to $775. The stock has shown a year-to-date price performance of approximately 22.93%, with an average trading volume of around 13.7 million shares and a market cap nearing $1.846 trillion.
More about Meta Platforms, Inc.
YTD Price Performance: 22.93%
Average Trading Volume: 13,722,994
Current Market Cap: $1866.6B
