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Davis Selected Advisers, managed by Chris Davis, recently executed a significant transaction involving Meta Platforms, Inc. ((META)). The hedge fund increased its position by 222,289 shares.
Recent Updates on Meta Platforms, Inc. stock
Meta Platforms, Inc. is undergoing major organizational changes, including the layoff of 5% of its global workforce and increased hiring of machine learning engineers. The company is merging its Messenger and Facebook teams and considering relocating its incorporation to Texas for better business conditions. Financially, Meta is investing heavily in virtual and augmented reality, with investments projected to reach $100 billion by the end of the year. The company has sold over 1 million Ray-Ban smart glasses in 2024, with 2025 marked as pivotal for smart glasses development. In response to these strategic shifts, Argus has raised Meta’s stock price target from $686 to $775. The stock has shown a year-to-date price performance of over 20%, with an average trading volume of around 13.7 million shares and a market cap approximately $1.846 trillion.
More about Meta Platforms, Inc.
YTD Price Performance: 22.93%
Average Trading Volume: 13,722,994
Current Market Cap: $1866.6B
