Vimeo’s chief product & tech officer purchases $107,592 in company stock

Robert Raymond (NSE:RYMD) Petrocelli, the Chief Product & Tech Officer of Vimeo , Inc. (NASDAQ:VMEO), has made a significant purchase of company shares, according to a recent SEC filing. On February 21, Petrocelli acquired 20,000 shares of Vimeo common stock at a weighted average price of $5.3796 per share, with transaction prices ranging from $5.375 to $5.38. This acquisition amounted to a total value of $107,592.

Following this transaction, Petrocelli’s direct ownership of Vimeo shares increased to 820,000. This total includes 800,000 restricted stock units previously granted to him. The purchase reflects Petrocelli’s continued confidence in the company’s prospects as he plays a pivotal role in its product and technology development. According to InvestingPro analysis, Vimeo maintains strong financial health with more cash than debt and a healthy current ratio of 1.68. The company’s shares currently trade below their Fair Value, suggesting potential upside opportunity. Discover 10+ additional exclusive insights and detailed analysis in the Pro Research Report, available with an InvestingPro subscription.

In other recent news, Vimeo Inc. reported its fourth-quarter 2024 earnings, surpassing revenue expectations with $103.2 million, compared to the anticipated $99.76 million. The company’s earnings per share (EPS) met forecasts at $0.01. Despite these positive financial results, Vimeo’s stock experienced a decline in after-hours trading, reflecting market concerns about future growth. Vimeo has announced plans to invest up to $30 million strategically to enhance its AI capabilities and enterprise solutions, aiming for double-digit growth by the end of the year. The company also highlighted its strong cash reserves, exceeding $300 million, and a reduction in non-GAAP operating expenses from $90 million to $70 million. Vimeo’s management expressed confidence in its financial stability and growth prospects, emphasizing the role of AI in its strategy. Additionally, Vimeo completed over $30 million in stock buybacks, indicating confidence in its valuation. Analyst discussions during the earnings call focused on the company’s enterprise growth, driven by increases in subscribers and average revenue per user (ARPU).

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