Renaissance Technologies LLC Grows Position in Vimeo, Inc. (NASDAQ:VMEO)

Renaissance Technologies LLC increased its position in shares of Vimeo, Inc. (NASDAQ:VMEO) by 14.8% during the second quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 6,292,354 shares of the company’s stock after buying an additional 808,954 shares during the quarter. Renaissance Technologies LLC owned about 3.72% of Vimeo worth $23,470,000 as of its most recent SEC filing.

A number of other hedge funds have also recently added to or reduced their stakes in VMEO. DekaBank Deutsche Girozentrale purchased a new position in Vimeo during the 2nd quarter worth approximately $42,000. Headlands Technologies LLC grew its stake in Vimeo by 4,565.2% during the 1st quarter. Headlands Technologies LLC now owns 11,943 shares of the company’s stock worth $49,000 after buying an additional 11,687 shares during the last quarter. Qtron Investments LLC purchased a new position in Vimeo during the 4th quarter worth approximately $50,000. Covestor Ltd grew its stake in Vimeo by 53.4% during the 1st quarter. Covestor Ltd now owns 13,629 shares of the company’s stock worth $56,000 after buying an additional 4,743 shares during the last quarter. Finally, Nisa Investment Advisors LLC grew its stake in Vimeo by 42.4% during the 2nd quarter. Nisa Investment Advisors LLC now owns 17,318 shares of the company’s stock worth $65,000 after buying an additional 5,160 shares during the last quarter. Hedge funds and other institutional investors own 84.97% of the company’s stock.

Vimeo Trading Up 0.8 %

Shares of VMEO stock opened at $5.08 on Friday. The business’s 50 day moving average is $4.59 and its two-hundred day moving average is $4.23. Vimeo, Inc. has a twelve month low of $3.02 and a twelve month high of $5.77. The company has a market capitalization of $842.26 million, a P/E ratio of 29.88 and a beta of 2.09.

Vimeo (NASDAQ:VMEO) last announced its earnings results on Monday, August 5th. The company reported $0.06 earnings per share for the quarter, beating the consensus estimate of $0.01 by $0.05. Vimeo had a return on equity of 8.59% and a net margin of 7.85%. The company had revenue of $104.38 million for the quarter, compared to the consensus estimate of $99.45 million. During the same period last year, the business posted $0.03 EPS. The company’s revenue was up 2.5% on a year-over-year basis. As a group, equities analysts predict that Vimeo, Inc. will post 0.08 earnings per share for the current fiscal year.

Insider Activity at Vimeo

In other Vimeo news, CEO Philip D. Moyer purchased 32,051 shares of the firm’s stock in a transaction that occurred on Wednesday, August 7th. The shares were purchased at an average cost of $4.67 per share, for a total transaction of $149,678.17. Following the completion of the purchase, the chief executive officer now directly owns 1,712,490 shares in the company, valued at $7,997,328.30. The acquisition was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Company insiders own 6.30% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research analysts recently issued reports on VMEO shares. Piper Sandler raised their price target on Vimeo from $4.50 to $5.00 and gave the stock a “neutral” rating in a research note on Tuesday, August 6th. Truist Financial lifted their target price on Vimeo from $6.00 to $7.00 and gave the company a “buy” rating in a research note on Tuesday, August 6th.

About Vimeo

Vimeo, Inc, together with its subsidiaries, provides video software solutions worldwide. It provides the video tools through a software-as-a-service model, which enables its users to create, collaborate, and communicate with video on a single platform. The company also offers over-the-top OTT streaming and monetization services; AI-driven video creation and editing tools; and interactive and shoppable video tools.