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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. is undergoing significant changes as it plans company-wide layoffs, affecting 5% of its global workforce, while simultaneously expediting the hiring of machine learning engineers. The company is merging its Messenger and Facebook teams, reflecting strategic realignments with a focus on generative AI. Meta’s investment in virtual and augmented reality is projected to reach $100 billion, with CEO Mark Zuckerberg identifying 2025 as pivotal for their smart glasses, which sold over one million units in 2024. Additionally, Meta is contemplating moving its incorporation from Delaware, potentially to Texas, to benefit from a more favorable business environment. The company’s price target has been raised to $775 by Argus amid these developments.
More about Meta Platforms, Inc.
YTD Price Performance: 20.12%
Average Trading Volume: 13,690,284
Current Market Cap: $1817.8B