Vimeo, Inc. (NASDAQ:VMEO) Shares Sold by Principal Financial Group Inc.

Principal Financial Group Inc. lessened its stake in Vimeo, Inc. (NASDAQ:VMEO) by 27.1% during the 3rd quarter, HoldingsChannel.com reports. The fund owned 58,312 shares of the company’s stock after selling 21,629 shares during the period. Principal Financial Group Inc.’s holdings in Vimeo were worth $294,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors and hedge funds have also made changes to their positions in VMEO. Hsbc Holdings PLC lifted its position in shares of Vimeo by 2.5% during the 2nd quarter. Hsbc Holdings PLC now owns 89,527 shares of the company’s stock valued at $336,000 after acquiring an additional 2,180 shares during the period. Quintet Private Bank Europe S.A. increased its holdings in shares of Vimeo by 18.1% during the 3rd quarter. Quintet Private Bank Europe S.A. now owns 20,000 shares of the company’s stock worth $101,000 after buying an additional 3,063 shares during the last quarter. Bleakley Financial Group LLC lifted its position in Vimeo by 6.0% during the third quarter. Bleakley Financial Group LLC now owns 59,045 shares of the company’s stock valued at $298,000 after buying an additional 3,327 shares in the last quarter. Algert Global LLC boosted its position in shares of Vimeo by 3.5% in the third quarter. Algert Global LLC now owns 100,110 shares of the company’s stock worth $506,000 after buying an additional 3,352 shares during the period. Finally, Connors Investor Services Inc. grew its position in Vimeo by 16.0% in the second quarter. Connors Investor Services Inc. now owns 29,000 shares of the company’s stock valued at $108,000 after acquiring an additional 4,000 shares in the last quarter. 84.97% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of research analysts recently commented on the company. TD Cowen increased their price target on Vimeo from $6.00 to $7.00 and gave the company a “hold” rating in a report on Tuesday, November 5th. Truist Financial upped their price target on shares of Vimeo from $7.00 to $9.00 and gave the stock a “buy” rating in a research note on Tuesday, November 5th. Finally, Piper Sandler raised Vimeo from a “neutral” rating to an “overweight” rating and upped their price target for the company from $7.00 to $10.00 in a report on Tuesday, December 10th.

Vimeo Price Performance

Shares of VMEO stock opened at $6.84 on Tuesday. Vimeo, Inc. has a fifty-two week low of $3.43 and a fifty-two week high of $7.90. The stock’s 50-day moving average is $6.56 and its two-hundred day moving average is $5.26. The firm has a market cap of $1.13 billion, a P/E ratio of 34.20 and a beta of 2.20.

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

Vimeo Company Profile

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.