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Egerton Capital (UK) LLP, managed by John Armitage, recently executed a significant transaction involving Meta Platforms, Inc. ((META)). The hedge fund increased its position by 227,047 shares.
Recent Updates on Meta Platforms, Inc. stock
Meta Platforms, Inc. is facing significant organizational changes as it plans to lay off 5% of its global workforce, merging its Messenger and Facebook teams into one entity and focusing on expedited hiring for machine learning engineers. The company is also considering relocating its incorporation to Texas for a more favorable business environment. Financially, Meta is heavily investing in virtual and augmented reality, with a total investment of $100 billion anticipated this year, and has sold over 1 million Ray-Ban smart glasses in 2024. Despite these changes, the company’s stock price target was recently raised from $686 to $775 by Argus.
More about Meta Platforms, Inc.
YTD Price Performance: 20.12%
Average Trading Volume: 13,690,284
Current Market Cap: $1817.8B