Pinnacle Associates Ltd. Has $3.62 Million Position in Vimeo, Inc. (NASDAQ:VMEO)

Pinnacle Associates Ltd. raised its stake in shares of Vimeo, Inc. (NASDAQ:VMEO) by 1.0% in the third quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 716,618 shares of the company’s stock after buying an additional 6,967 shares during the period. Pinnacle Associates Ltd.’s holdings in Vimeo were worth $3,619,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also modified their holdings of the business. Hsbc Holdings PLC lifted its stake in shares of Vimeo by 2.5% in the 2nd quarter. Hsbc Holdings PLC now owns 89,527 shares of the company’s stock valued at $336,000 after purchasing an additional 2,180 shares during the last quarter. Bleakley Financial Group LLC lifted its stake in shares of Vimeo by 6.0% in the 3rd quarter. Bleakley Financial Group LLC now owns 59,045 shares of the company’s stock valued at $298,000 after purchasing an additional 3,327 shares during the last quarter. Connors Investor Services Inc. lifted its stake in shares of Vimeo by 16.0% in the 2nd quarter. Connors Investor Services Inc. now owns 29,000 shares of the company’s stock valued at $108,000 after purchasing an additional 4,000 shares during the last quarter. Covestor Ltd lifted its stake in shares of Vimeo by 53.4% in the 1st quarter. Covestor Ltd now owns 13,629 shares of the company’s stock valued at $56,000 after purchasing an additional 4,743 shares during the last quarter. Finally, Principal Financial Group Inc. lifted its position in Vimeo by 6.8% during the 2nd quarter. Principal Financial Group Inc. now owns 79,941 shares of the company’s stock worth $298,000 after acquiring an additional 5,107 shares during the last quarter. Institutional investors and hedge funds own 84.97% of the company’s stock.

Analysts Set New Price Targets

VMEO has been the subject of a number of research analyst reports. Piper Sandler boosted their target price on shares of Vimeo from $4.50 to $5.00 and gave the stock a “neutral” rating in a research report on Tuesday, August 6th. Truist Financial boosted their target price on shares of Vimeo from $6.00 to $7.00 and gave the stock a “buy” rating in a research report on Tuesday, August 6th.

Insider Activity at Vimeo

In other Vimeo news, CEO Philip D. Moyer bought 32,051 shares of the stock in a transaction that occurred on Wednesday, August 7th. The shares were acquired at an average price of $4.67 per share, with a total value 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 trade was a 0.00 % increase in their position. The acquisition was disclosed in a legal filing with the SEC, which is available through the SEC website. 6.30% of the stock is currently owned by insiders.

Vimeo Stock Performance

NASDAQ:VMEO opened at $4.77 on Friday. The firm’s 50-day moving average is $5.01 and its 200-day moving average is $4.30. Vimeo, Inc. has a 52-week low of $3.02 and a 52-week high of $5.77. The company has a market cap of $790.87 million, a price-to-earnings ratio of 23.85 and a beta of 2.08.

Vimeo (NASDAQ:VMEO) last posted its quarterly earnings data on Monday, August 5th. The company reported $0.06 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.01 by $0.05. Vimeo had a net margin of 7.85% and a return on equity of 8.59%. The company had revenue of $104.38 million for the quarter, compared to the consensus estimate of $99.45 million. During the same quarter in the previous year, the firm posted $0.03 EPS. The business’s revenue was up 2.5% compared to the same quarter last year. Equities analysts predict that Vimeo, Inc. will post 0.08 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.