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First Eagle Investment Management LLC, managed by Jean Marie Eveillard, recently executed a significant transaction involving Meta Platforms, Inc. ((META)). The hedge fund increased its position by 4,732 shares.
Recent Updates on Meta Platforms, Inc. stock
Meta Platforms, Inc. has been implementing significant organizational changes, including a 5% reduction in its global workforce while increasing the hiring of machine learning engineers. The company is merging its Messenger and Facebook teams and contemplating a move of incorporation to Texas for more favorable business conditions. Meta is heavily investing in virtual and augmented reality, with anticipated investments reaching $100 billion by the end of the year. The company has sold over 1 million Ray-Ban smart glasses in 2024, with 2025 expected to be pivotal for further smart glasses development. Reflecting these strategic shifts, Argus has increased Meta’s stock price target from $686 to $775. The stock has shown a year-to-date price performance of approximately 22.93%, with an average trading volume around 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
