JPMorgan Chase & Co. Purchases 49,699 Shares of Vimeo, Inc. (NASDAQ:VMEO)

JPMorgan Chase & Co. grew its position in Vimeo, Inc. (NASDAQ:VMEO) by 18.1% during the third quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 324,420 shares of the company’s stock after purchasing an additional 49,699 shares during the quarter. JPMorgan Chase & Co. owned approximately 0.20% of Vimeo worth $1,638,000 as of its most recent filing with the SEC.

A number of other institutional investors also recently modified their holdings of the company. Franklin Resources Inc. lifted its position in shares of Vimeo by 2.9% during the 3rd quarter. Franklin Resources Inc. now owns 145,603 shares of the company’s stock valued at $702,000 after acquiring an additional 4,134 shares during the period. Barclays PLC raised its holdings in shares of Vimeo by 203.9% in the third quarter. Barclays PLC now owns 240,655 shares of the company’s stock valued at $1,215,000 after purchasing an additional 161,469 shares during the last quarter. Geode Capital Management LLC raised its holdings in shares of Vimeo by 5.0% in the third quarter. Geode Capital Management LLC now owns 3,770,805 shares of the company’s stock valued at $19,046,000 after purchasing an additional 181,137 shares during the last quarter. EP Wealth Advisors LLC purchased a new stake in shares of Vimeo in the third quarter valued at about $51,000. Finally, Point72 DIFC Ltd purchased a new stake in shares of Vimeo in the third quarter valued at about $141,000. 84.97% of the stock is owned by institutional investors.

Vimeo Stock Performance

VMEO opened at $6.37 on Friday. The firm has a market cap of $1.06 billion, a P/E ratio of 31.85 and a beta of 2.20. The firm has a 50-day moving average of $6.62 and a 200 day moving average of $5.47. Vimeo, Inc. has a fifty-two week low of $3.43 and a fifty-two week high of $7.90.

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

Analysts Set New Price Targets

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