Principal Financial Group Inc. Cuts Position in Vimeo, Inc. (NASDAQ:VMEO)

Principal Financial Group Inc. decreased its holdings in Vimeo, Inc. (NASDAQ:VMEO) by 27.1% in the 3rd quarter, HoldingsChannel reports. The fund owned 58,312 shares of the company’s stock after selling 21,629 shares during the quarter. Principal Financial Group Inc.’s holdings in Vimeo were worth $294,000 at the end of the most recent reporting period.

A number of other hedge funds have also made changes to their positions in VMEO. Lynrock Lake LP increased its position in shares of Vimeo by 124.9% in the second quarter. Lynrock Lake LP now owns 15,731,386 shares of the company’s stock valued at $58,678,000 after buying an additional 8,735,044 shares in the last quarter. Dimensional Fund Advisors LP boosted its stake in Vimeo by 27.3% in the 2nd quarter. Dimensional Fund Advisors LP now owns 4,612,973 shares of the company’s stock worth $17,207,000 after buying an additional 987,923 shares during the last quarter. Renaissance Technologies LLC boosted its stake in Vimeo by 14.8% in the 2nd quarter. Renaissance Technologies LLC now owns 6,292,354 shares of the company’s stock worth $23,470,000 after buying an additional 808,954 shares during the last quarter. Divisar Capital Management LLC boosted its stake in Vimeo by 10.5% in the 2nd quarter. Divisar Capital Management LLC now owns 8,388,993 shares of the company’s stock worth $31,291,000 after buying an additional 800,000 shares during the last quarter. Finally, Aristides Capital LLC acquired a new stake in Vimeo in the 2nd quarter worth about $670,000. Hedge funds and other institutional investors own 84.97% of the company’s stock.

Vimeo Trading Up 1.8 %

Shares of NASDAQ VMEO opened at $6.78 on Monday. Vimeo, Inc. has a twelve month low of $3.43 and a twelve month high of $7.28. The company has a market capitalization of $1.12 billion, a price-to-earnings ratio of 33.90 and a beta of 2.08. The business has a 50 day simple moving average of $5.43 and a 200-day simple moving average of $4.63.

Vimeo (NASDAQ:VMEO) last released its quarterly earnings data on Tuesday, November 5th. The company reported $0.05 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.01 by $0.04. Vimeo had a return on equity of 8.56% and a net margin of 8.08%. The business had revenue of $104.56 million during the quarter, compared to analyst estimates of $99.48 million. During the same quarter in the previous year, the firm posted $0.05 EPS. The business’s revenue for the quarter was down 1.6% compared to the same quarter last year. As a group, equities analysts predict that Vimeo, Inc. will post 0.18 earnings per share for the current year.

Analyst Ratings Changes

VMEO has been the topic of several research analyst reports. TD Cowen lifted their price objective on Vimeo from $6.00 to $7.00 and gave the company a “hold” rating in a research note on Tuesday, November 5th. Truist Financial lifted their price objective on Vimeo from $7.00 to $9.00 and gave the stock a “buy” rating in a report on Tuesday, November 5th. Finally, Piper Sandler restated a “neutral” rating and set a $7.00 price objective (up from $5.00) on shares of Vimeo in a report on Tuesday, November 5th.

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.