Verition Fund Management LLC Boosts Stock Position in Vimeo, Inc. (NASDAQ:VMEO)

Verition Fund Management LLC raised its stake in Vimeo, Inc. (NASDAQ:VMEO) by 199.8% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 71,090 shares of the company’s stock after purchasing an additional 47,378 shares during the quarter. Verition Fund Management LLC’s holdings in Vimeo were worth $359,000 at the end of the most recent reporting period.

A number of other institutional investors have also modified their holdings of VMEO. Hsbc Holdings PLC raised its stake in shares of Vimeo by 2.5% during the 2nd quarter. Hsbc Holdings PLC now owns 89,527 shares of the company’s stock worth $336,000 after buying an additional 2,180 shares in the last quarter. Quintet Private Bank Europe S.A. raised its position in Vimeo by 18.1% in the third quarter. Quintet Private Bank Europe S.A. now owns 20,000 shares of the company’s stock worth $101,000 after acquiring an additional 3,063 shares in the last quarter. Bleakley Financial Group LLC lifted its holdings in Vimeo by 6.0% in the third quarter. Bleakley Financial Group LLC now owns 59,045 shares of the company’s stock valued at $298,000 after acquiring an additional 3,327 shares during the period. Algert Global LLC boosted its position in shares of Vimeo by 3.5% during the 3rd quarter. Algert Global LLC now owns 100,110 shares of the company’s stock worth $506,000 after purchasing an additional 3,352 shares in the last quarter. Finally, Connors Investor Services Inc. grew its stake in shares of Vimeo by 16.0% during the 2nd quarter. Connors Investor Services Inc. now owns 29,000 shares of the company’s stock worth $108,000 after purchasing an additional 4,000 shares during the period. Institutional investors and hedge funds own 84.97% of the company’s stock.

Analysts Set New Price Targets

Several research firms recently weighed in on VMEO. Piper Sandler raised Vimeo from a “neutral” rating to an “overweight” rating and raised their price objective for the company from $7.00 to $10.00 in a research note on Tuesday. TD Cowen boosted their price objective on shares of Vimeo from $6.00 to $7.00 and gave the stock a “hold” rating in a research report on Tuesday, November 5th. Finally, Truist Financial raised their target price on shares of Vimeo from $7.00 to $9.00 and gave the company a “buy” rating in a report on Tuesday, November 5th.

Vimeo Stock Performance

Vimeo stock opened at $6.84 on Friday. Vimeo, Inc. has a fifty-two week low of $3.43 and a fifty-two week high of $7.90. The company has a market capitalization of $1.13 billion, a price-to-earnings ratio of 34.20 and a beta of 2.23. The stock has a fifty day moving average of $5.97 and a two-hundred day moving average of $4.93.

Vimeo (NASDAQ:VMEO) last posted its quarterly earnings data on Tuesday, November 5th. The company reported $0.05 EPS 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 analysts’ expectations of $99.48 million. Vimeo had a return on equity of 8.56% and a net margin of 8.08%. The firm’s quarterly revenue was down 1.6% compared to the same quarter last year. During the same quarter last year, the business posted $0.05 EPS. On average, analysts forecast that Vimeo, Inc. will post 0.18 EPS for the current fiscal 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.