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First Pacific Advisors LLC, managed by Richard Atwood, recently executed a significant transaction involving Meta Platforms, Inc. ((META)). The hedge fund increased its position by 18,547 shares.
Recent Updates on Meta Platforms, Inc. stock
Meta Platforms, Inc. has recently undergone significant organizational changes, including laying off 5% of its global workforce while increasing the hiring of machine learning engineers. The company is merging its Messenger and Facebook teams and considering moving its incorporation to Texas for better business conditions. Meta is heavily investing in virtual and augmented reality, aiming to reach $100 billion in investments by year-end and has sold over 1 million Ray-Ban smart glasses in 2024, with 2025 being pivotal for further development. In response to these strategic developments, Argus increased Meta’s stock price target from $686 to $775. The stock has demonstrated a year-to-date price performance of over 20%, with an average trading volume of approximately 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
