Vimeo, Inc. (NASDAQ:VMEO) Stock Position Lifted by Bank of New York Mellon Corp

Bank of New York Mellon Corp lifted its position in shares of Vimeo, Inc. (NASDAQ:VMEO) by 5.7% during the 2nd quarter, HoldingsChannel.com reports. The fund owned 638,944 shares of the company’s stock after acquiring an additional 34,316 shares during the quarter. Bank of New York Mellon Corp’s holdings in Vimeo were worth $2,383,000 as of its most recent filing with the Securities and Exchange Commission.

Several other large investors have also recently added to or reduced their stakes in VMEO. Victory Capital Management Inc. raised its holdings in shares of Vimeo by 22.7% during the fourth quarter. Victory Capital Management Inc. now owns 19,318 shares of the company’s stock worth $76,000 after purchasing an additional 3,571 shares during the period. Pinnacle Associates Ltd. boosted its stake in Vimeo by 0.6% in the first quarter. Pinnacle Associates Ltd. now owns 721,060 shares of the company’s stock valued at $2,949,000 after acquiring an additional 4,442 shares during the period. Covestor Ltd raised its position in shares of Vimeo by 53.4% during the 1st quarter. Covestor Ltd now owns 13,629 shares of the company’s stock worth $56,000 after purchasing an additional 4,743 shares during the period. Nisa Investment Advisors LLC boosted its position in Vimeo by 42.4% during the 2nd quarter. Nisa Investment Advisors LLC now owns 17,318 shares of the company’s stock valued at $65,000 after purchasing an additional 5,160 shares during the period. Finally, Price T Rowe Associates Inc. MD grew its stake in Vimeo by 3.3% during the 1st quarter. Price T Rowe Associates Inc. MD now owns 181,579 shares of the company’s stock worth $743,000 after buying an additional 5,776 shares during the last quarter. 84.97% of the stock is currently owned by institutional investors.

Vimeo Price Performance

Shares of Vimeo stock opened at $5.07 on Tuesday. Vimeo, Inc. has a 1-year low of $3.02 and a 1-year high of $5.77. The business’s fifty day moving average price is $4.53 and its two-hundred day moving average price is $4.22. The company has a market capitalization of $858.18 million, a P/E ratio of 29.82 and a beta of 2.09.

Vimeo (NASDAQ:VMEO) last issued its quarterly earnings data on Monday, August 5th. The company reported $0.06 earnings per share for the quarter, beating analysts’ consensus estimates of $0.01 by $0.05. The business had revenue of $104.38 million for the quarter, compared to analysts’ expectations of $99.45 million. Vimeo had a net margin of 7.85% and a return on equity of 8.59%. The company’s revenue was up 2.5% on a year-over-year basis. During the same period in the previous year, the business earned $0.03 earnings per share. On average, research analysts expect that Vimeo, Inc. will post 0.08 earnings per share for the current fiscal year.

Analysts Set New Price Targets

VMEO has been the subject of several analyst reports. Piper Sandler boosted their price target on shares of Vimeo from $4.50 to $5.00 and gave the company a “neutral” rating in a report on Tuesday, August 6th. Truist Financial lifted their price objective on shares of Vimeo from $6.00 to $7.00 and gave the company a “buy” rating in a research report on Tuesday, August 6th.

Insiders Place Their Bets

In related news, CEO Philip D. Moyer acquired 32,051 shares of the stock in a transaction that occurred on Wednesday, August 7th. The shares were acquired at an average price of $4.67 per share, for a total transaction of $149,678.17. Following the completion of the purchase, the chief executive officer now directly owns 1,712,490 shares of the company’s stock, valued at $7,997,328.30. The purchase was disclosed in a document filed with the SEC, which is accessible through this hyperlink. 6.30% of the stock is owned by insiders.

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.