State Street Corp Decreases Stake in Vimeo, Inc. (NASDAQ:VMEO)

State Street Corp trimmed its holdings in Vimeo, Inc. (NASDAQ:VMEO) by 0.2% in the third quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 4,433,854 shares of the company’s stock after selling 9,474 shares during the period. State Street Corp owned 2.67% of Vimeo worth $22,391,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds and other institutional investors have also recently modified their holdings of the business. Nisa Investment Advisors LLC raised its holdings in Vimeo by 42.4% in the 2nd quarter. Nisa Investment Advisors LLC now owns 17,318 shares of the company’s stock valued at $65,000 after acquiring an additional 5,160 shares during the last quarter. Bank of New York Mellon Corp grew its position in shares of Vimeo by 5.7% in the second quarter. Bank of New York Mellon Corp now owns 638,944 shares of the company’s stock valued at $2,383,000 after purchasing an additional 34,316 shares in the last quarter. Principal Financial Group Inc. grew its position in shares of Vimeo by 6.8% in the second quarter. Principal Financial Group Inc. now owns 79,941 shares of the company’s stock valued at $298,000 after purchasing an additional 5,107 shares in the last quarter. Victory Capital Management Inc. increased its holdings in shares of Vimeo by 84.0% in the second quarter. Victory Capital Management Inc. now owns 55,737 shares of the company’s stock valued at $208,000 after purchasing an additional 25,443 shares during the last quarter. Finally, Acadian Asset Management LLC lifted its position in Vimeo by 3.8% during the second quarter. Acadian Asset Management LLC now owns 1,880,837 shares of the company’s stock worth $7,013,000 after buying an additional 68,195 shares in the last quarter. 84.97% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several brokerages have issued reports on VMEO. Piper Sandler upgraded Vimeo from a “neutral” rating to an “overweight” rating and upped their target price for the company from $7.00 to $10.00 in a report on Tuesday, December 10th. TD Cowen upped their price objective on shares of Vimeo from $6.00 to $7.00 and gave the company a “hold” rating in a report on Tuesday, November 5th. Finally, Truist Financial lifted their target price 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.

Vimeo Stock Up 4.2 %

NASDAQ:VMEO opened at $6.72 on Monday. Vimeo, Inc. has a 52 week low of $3.43 and a 52 week high of $7.90. The stock’s fifty day moving average is $6.15 and its two-hundred day moving average is $5.03. The company has a market capitalization of $1.11 billion, a P/E ratio of 33.60 and a beta of 2.23.

Vimeo (NASDAQ:VMEO) last issued its quarterly earnings data 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. Vimeo had a return on equity of 8.56% and a net margin of 8.08%. The firm had revenue of $104.56 million during the quarter, compared to the consensus estimate of $99.48 million. During the same period last year, the company earned $0.05 EPS. The company’s quarterly revenue was down 1.6% on a year-over-year basis. Sell-side analysts anticipate that Vimeo, Inc. will post 0.18 earnings per share for the current fiscal year.

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.