So I was looking through some analyst moves and caught that Rothschild & Co upgraded Meta back in January - shifted from neutral to buy. That kind of caught my attention since Rothschild doesn't move around lightly on these calls.

Their price target was sitting at around $848 per share, suggesting nearly 29% upside from where it was trading then. Pretty solid conviction if you ask me. What's interesting though is looking at what the big money is actually doing - Vanguard's total market fund added to their position, Fidelity's Contrafund increased their allocation by over 11% that quarter. JPMorgan actually trimmed a bit, but that's just noise in the bigger picture.

The put/call ratio on Meta is hovering around 0.61, which is definitely bullish territory. You've got over 7,000 institutions holding positions now. Rothschild's upgrade seems to fit with the broader institutional appetite right now. Institutional ownership is still pretty heavy - nearly 2 billion shares across funds. Worth watching if you're thinking about where the smart money is positioning.