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Intermede Investment Partners Ltd, managed by Barry Dargan, recently executed a significant transaction involving Meta Platforms, Inc. ((META)). The hedge fund reduced its position by 8,030 shares.
Recent Updates on Meta Platforms, Inc. stock
Recent developments for Meta Platforms, Inc. include significant organizational restructuring and financial investments. The company is conducting company-wide layoffs, impacting about 5% of its global workforce, while expediting the hiring of machine learning engineers. Meta is also merging its Messenger and Facebook teams and shuffling its generative AI group. Additionally, Meta is contemplating moving its incorporation from Delaware to another state, possibly Texas. Financially, the company is set to invest $100 billion in virtual and augmented reality by 2025, with significant sales success in its Ray-Ban Meta smart glasses, having sold over 1 million units in 2024. The company’s stock price target was recently raised to $775 from $686 by Argus.
More about Meta Platforms, Inc.
YTD Price Performance: 20.12%
Average Trading Volume: 13,690,284
Current Market Cap: $1817.8B
