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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 workforce while increasing hiring for machine learning engineers. The company is merging its Messenger and Facebook teams and considering relocating its incorporation to Texas for a better business environment. Financially, Meta is expected to reach a $100 billion investment in virtual and augmented reality by the end of the year. The company has sold over 1 million Ray-Ban smart glasses in 2024, with 2025 being a pivotal year for smart glasses development according to CEO Mark Zuckerberg. Reflecting these strategic changes, Argus raised Meta’s stock price target from $686 to $775. The stock has a year-to-date price performance of 20.12% and an average trading volume of approximately 13.7 million shares, with a market cap around $1,817.8 billion.
More about Meta Platforms, Inc.
YTD Price Performance: 21.58%
Average Trading Volume: 13,736,521
Current Market Cap: $1846.1B
