Truist Financial Corp Acquires New Shares in Vimeo, Inc. (NASDAQ:VMEO)

Truist Financial Corp acquired a new stake in shares of Vimeo, Inc. (NASDAQ:VMEO) in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund acquired 11,509 shares of the company’s stock, valued at approximately $74,000.

A number of other hedge funds and other institutional investors have also added to or reduced their stakes in VMEO. CWA Asset Management Group LLC acquired a new position in Vimeo during the 3rd quarter valued at approximately $391,000. Covestor Ltd boosted its position in Vimeo by 115.3% during the 3rd quarter. Covestor Ltd now owns 28,298 shares of the company’s stock valued at $143,000 after purchasing an additional 15,157 shares during the period. River Global Investors LLP boosted its position in Vimeo by 3.8% during the 3rd quarter. River Global Investors LLP now owns 367,969 shares of the company’s stock valued at $1,860,000 after purchasing an additional 13,345 shares during the period. Versor Investments LP acquired a new position in Vimeo during the 3rd quarter valued at approximately $166,000. Finally, GSA Capital Partners LLP boosted its position in Vimeo by 134.9% during the 3rd quarter. GSA Capital Partners LLP now owns 162,488 shares of the company’s stock valued at $821,000 after purchasing an additional 93,303 shares during the period. Institutional investors and hedge funds own 84.97% of the company’s stock.

Vimeo Stock Performance

Shares of VMEO stock opened at $5.64 on Friday. Vimeo, Inc. has a 1 year low of $3.43 and a 1 year high of $7.90. The stock has a fifty day moving average of $6.33 and a two-hundred day moving average of $5.93. The firm has a market capitalization of $929.77 million, a PE ratio of 35.25 and a beta of 2.22.

Vimeo (NASDAQ:VMEO) last announced its quarterly earnings results on Wednesday, February 19th. The company reported $0.01 earnings per share (EPS) for the quarter, hitting analysts’ consensus estimates of $0.01. Vimeo had a return on equity of 6.72% and a net margin of 6.48%. The company had revenue of $103.16 million during the quarter, compared to analyst estimates of $100.60 million. Equities research analysts predict that Vimeo, Inc. will post 0.16 earnings per share for the current fiscal year.

Analysts Set New Price Targets

Separately, Piper Sandler upgraded Vimeo from a “neutral” rating to an “overweight” rating and boosted their price target for the stock from $7.00 to $10.00 in a research report on Tuesday, December 10th.

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.