State Street Corp Lowers Stock Holdings in Vimeo, Inc. (NASDAQ:VMEO)

State Street Corp cut its position in Vimeo, Inc. (NASDAQ:VMEO) by 0.2% in the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 4,433,854 shares of the company’s stock after selling 9,474 shares during the quarter. State Street Corp’s holdings in Vimeo were worth $22,391,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors and hedge funds have also recently modified their holdings of VMEO. CWA Asset Management Group LLC acquired a new position in Vimeo in the 3rd quarter valued at about $391,000. FMR LLC boosted its stake in shares of Vimeo by 65.1% in the third quarter. FMR LLC now owns 1,392,457 shares of the company’s stock valued at $7,032,000 after purchasing an additional 548,812 shares during the period. Divisar Capital Management LLC grew its holdings in shares of Vimeo by 10.5% in the second quarter. Divisar Capital Management LLC now owns 8,388,993 shares of the company’s stock valued at $31,291,000 after purchasing an additional 800,000 shares in the last quarter. Renaissance Technologies LLC increased its stake in Vimeo by 14.8% during 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 period. Finally, GSA Capital Partners LLP lifted its holdings in Vimeo by 134.9% during the 3rd quarter. GSA Capital Partners LLP now owns 162,488 shares of the company’s stock worth $821,000 after buying an additional 93,303 shares in the last quarter. Hedge funds and other institutional investors own 84.97% of the company’s stock.

Vimeo Trading Up 4.2 %

Vimeo stock opened at $6.72 on Monday. The company has a fifty day simple moving average of $6.15 and a 200-day simple moving average of $5.03. The stock has a market cap of $1.11 billion, a P/E ratio of 33.60 and a beta of 2.23. Vimeo, Inc. has a 12-month low of $3.43 and a 12-month high of $7.90.

Vimeo (NASDAQ:VMEO) last announced its quarterly earnings results on Tuesday, November 5th. The company reported $0.05 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.01 by $0.04. The company had revenue of $104.56 million during the quarter, compared to the consensus estimate of $99.48 million. Vimeo had a return on equity of 8.56% and a net margin of 8.08%. Vimeo’s revenue for the quarter was down 1.6% on a year-over-year basis. During the same period in the previous year, the business earned $0.05 EPS. As a group, sell-side analysts forecast that Vimeo, Inc. will post 0.18 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

A number of research firms have recently weighed in on VMEO. Truist Financial upped their price objective on Vimeo from $7.00 to $9.00 and gave the stock a “buy” rating in a research report on Tuesday, November 5th. Piper Sandler upgraded Vimeo from a “neutral” rating to an “overweight” rating and upped their price target for the stock from $7.00 to $10.00 in a report on Tuesday, December 10th. Finally, 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.

Vimeo 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.