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Weitz Investment Management, Inc., managed by Wallace Weitz, recently executed a significant transaction involving Meta Platforms, Inc. ((META)). The hedge fund increased its position by 8,600 shares.
Recent Updates on Meta Platforms, Inc. stock
Meta Platforms, Inc. has recently announced significant organizational changes, including laying off 5% of its global workforce while expediting the hiring of machine learning engineers. The company is merging its Messenger and Facebook teams and considering relocating its incorporation from Delaware to Texas for a more favorable business environment. Meta is heavily investing in virtual and augmented reality, expecting to reach a $100 billion investment by the end of this year. The company sold over 1 million Ray-Ban smart glasses in 2024, with CEO Mark Zuckerberg noting 2025 as pivotal for its smart glasses development. Reflecting positive market sentiment, Argus has raised Meta’s stock price target from $686 to $775 amidst these strategic shifts. The stock has a year-to-date price performance of 20.12%, with an average trading volume of 13,690,284 and a current market cap of $1,817.8 billion.
More about Meta Platforms, Inc.
YTD Price Performance: 21.05%
Average Trading Volume: 13,711,266
Current Market Cap: $1838B