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Egerton Capital (UK) LLP, managed by John Armitage, recently executed a significant transaction involving Meta Platforms, Inc. ((META)). The hedge fund increased its position by 227,047 shares.
Recent Updates on Meta Platforms, Inc. stock
Meta Platforms, Inc. is undergoing significant organizational changes, including laying off 5% of its global workforce while accelerating the 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 heavily investing in virtual and augmented reality, with investments expected to reach $100 billion by year-end. The company has sold over 1 million Ray-Ban smart glasses in 2024, with 2025 being crucial for further development. Reflecting these strategic shifts, Argus raised Meta’s stock price target from $686 to $775. The stock has shown a year-to-date performance of over 22.93%, with an average trading volume of approximately 13.7 million shares and a market cap close to $1.846 trillion.
More about Meta Platforms, Inc.
YTD Price Performance: 22.93%
Average Trading Volume: 13,722,994
Current Market Cap: $1866.6B
