Gotham Asset Management LLC, managed by Joel Greenblatt, recently executed a significant transaction involving Meta Platforms, Inc. ((META)). The hedge fund increased its position by 4,296 shares.
Recent Updates on Meta Platforms, Inc. stock
Meta Platforms, Inc. has been implementing 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 a more favorable business environment. Meta is heavily investing in virtual and augmented reality, with expectations 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 and sees 2025 as a pivotal year for smart glasses development. Reflecting 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 approximately 13.7 million shares and a market cap of about $1.818 trillion.
More about Meta Platforms, Inc.
YTD Price Performance: 22.93%
Average Trading Volume: 13,722,994
Current Market Cap: $1846.1B
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