Appaloosa Management LP, managed by David Tepper, recently executed a significant transaction involving Meta Platforms, Inc. ((META)). The hedge fund increased its position by 135,000 shares.
Recent Updates on Meta Platforms, Inc. stock
Meta Platforms, Inc. is undergoing significant organizational changes, including a 5% global workforce reduction while increasing the hiring of machine learning engineers. The company is merging its Messenger and Facebook teams and is considering relocating its incorporation to Texas for more favorable business conditions. Meta is making substantial investments in virtual and augmented reality, aiming to reach $100 billion by the end of the year. They sold over 1 million Ray-Ban smart glasses in 2024, with 2025 expected to be pivotal for further development. These strategic shifts have led Argus to raise Meta’s stock price target from $686 to $775. The stock has shown a year-to-date performance of over 20%, with an average trading volume of approximately 13.7 million shares and a market cap around $1.8 trillion.
More about Meta Platforms, Inc.
YTD Price Performance: 22.93%
Average Trading Volume: 13,722,994
Current Market Cap: $1866.6B