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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
Meta Platforms, Inc. is undergoing significant organizational changes, including laying off 5% of its global workforce while increasing the hiring of machine learning engineers, and merging its Messenger and Facebook teams. The company is considering relocating its incorporation to Texas for a more favorable business environment. Financially, Meta is heavily investing in virtual and augmented reality, with investments anticipated 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 further development. Argus has raised Meta’s stock price target from $686 to $775, reflecting these strategic shifts. The stock has shown a year-to-date price performance of approximately 22.93%, with an average trading volume of 13.7 million shares and a market cap nearing $1.846 trillion.
More about Meta Platforms, Inc.
YTD Price Performance: 22.93%
Average Trading Volume: 13,722,994
Current Market Cap: $1866.6B
