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Wedgewood Partners Inc, managed by David Rolfe, recently executed a significant transaction involving Meta Platforms, Inc. ((META)). The hedge fund increased its position by 3,291 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 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 expected investments reaching $100 billion by the end of the year. The company sold over 1 million Ray-Ban smart glasses in 2024, with 2025 being pivotal for smart glasses development. Reflecting these strategic shifts, Argus raised Meta’s stock price target from $686 to $775. Meta’s stock has shown a year-to-date price performance of over 20%, with an average trading volume around 13.7 million shares and a market cap of approximately $1.817 trillion.
More about Meta Platforms, Inc.
YTD Price Performance: 22.93%
Average Trading Volume: 13,722,994
Current Market Cap: $1846.1B
