Chad Steelberg Sells 504,657 Shares of Veritone, Inc. (NASDAQ:VERI) Stock

Veritone, Inc. (NASDAQ:VERI) Director Chad Steelberg sold 504,657 shares of Veritone stock in a transaction that occurred on Friday, December 13th. The stock was sold at an average price of $2.52, for a total transaction of $1,271,735.64. Following the transaction, the director now directly owns 31,861 shares in the company, valued at $80,289.72. This trade represents a 94.06 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink.

Veritone Stock Down 7.6 %

Shares of NASDAQ VERI opened at $2.19 on Thursday. The company has a market cap of $83.90 million, a price-to-earnings ratio of -1.01 and a beta of 3.21. The company has a quick ratio of 0.66, a current ratio of 0.66 and a debt-to-equity ratio of 9.02. The firm’s fifty day moving average is $3.23 and its 200 day moving average is $3.07. Veritone, Inc. has a 52 week low of $1.48 and a 52 week high of $7.76.

Hedge Funds Weigh In On Veritone

Several hedge funds and other institutional investors have recently modified their holdings of the company. Private Management Group Inc. increased its holdings in Veritone by 18.6% during the 3rd quarter. Private Management Group Inc. now owns 2,891,845 shares of the company’s stock valued at $10,382,000 after purchasing an additional 452,861 shares during the period. Renaissance Technologies LLC bought a new stake in shares of Veritone during the 2nd quarter valued at $811,000. GSA Capital Partners LLP grew its position in shares of Veritone by 559.7% in the 3rd quarter. GSA Capital Partners LLP now owns 108,614 shares of the company’s stock worth $390,000 after buying an additional 92,150 shares during the period. Cubist Systematic Strategies LLC purchased a new position in Veritone during the 2nd quarter valued at about $203,000. Finally, Vanguard Capital Wealth Advisors boosted its stake in Veritone by 136.1% during the third quarter. Vanguard Capital Wealth Advisors now owns 70,600 shares of the company’s stock worth $253,000 after acquiring an additional 40,700 shares in the last quarter. 39.18% of the stock is owned by institutional investors.

Analysts Set New Price Targets

Separately, UBS Group raised shares of Veritone from a “sell” rating to a “neutral” rating and set a $3.50 target price on the stock in a report on Wednesday, October 30th.

Veritone Company Profile

Veritone, Inc, together with its subsidiaries, engages in the provision of artificial intelligence (AI) computing solutions and services in the United States, the United Kingdom, France, Australia, Israel, and India. It develops and operates aiWARE platform, an AI operating system, that uses machine learning algorithms or AI models designed to mimic human cognitive functions, such as perception, prediction, and problem solving and optimization, as well as enables users to transform unstructured data into structured data, and analyze and optimize data to drive business processes and insights.