Private Management Group Inc. Sells 444,610 Shares of Veritone, Inc. (NASDAQ:VERI)

Private Management Group Inc. reduced its stake in shares of Veritone, Inc. (NASDAQ:VERI) by 15.4% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 2,447,235 shares of the company’s stock after selling 444,610 shares during the period. Private Management Group Inc. owned 6.09% of Veritone worth $8,027,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently made changes to their positions in VERI. Benjamin Edwards Inc. acquired a new position in shares of Veritone during the 3rd quarter valued at about $65,000. Bfsg LLC grew its holdings in Veritone by 13.4% during the third quarter. Bfsg LLC now owns 23,450 shares of the company’s stock valued at $84,000 after purchasing an additional 2,775 shares during the last quarter. XTX Topco Ltd bought a new position in shares of Veritone in the third quarter valued at approximately $132,000. Vanguard Capital Wealth Advisors lifted its stake in shares of Veritone by 136.1% in the third quarter. Vanguard Capital Wealth Advisors now owns 70,600 shares of the company’s stock worth $253,000 after buying an additional 40,700 shares during the last quarter. Finally, Cubist Systematic Strategies LLC bought a new stake in shares of Veritone during the 2nd quarter worth $203,000. Institutional investors and hedge funds own 39.18% of the company’s stock.

Veritone Trading Down 1.7 %

NASDAQ:VERI opened at $3.39 on Thursday. Veritone, Inc. has a one year low of $1.65 and a one year high of $7.76. The company has a fifty day moving average price of $2.87 and a 200 day moving average price of $3.16.

Insider Transactions at Veritone

In related news, Director Chad Steelberg sold 504,657 shares of Veritone stock in a transaction dated 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 sale, the director now directly owns 31,861 shares of the company’s stock, 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 Securities & Exchange Commission, which is available through this hyperlink. Insiders own 26.60% of the company’s stock.

Wall Street Analyst Weigh In

Several brokerages recently commented on VERI. D. Boral Capital initiated coverage on shares of Veritone in a report on Monday. They issued a “buy” rating and a $4.50 target price on the stock. UBS Group upgraded Veritone from a “sell” rating to a “neutral” rating and set a $3.50 price objective on the stock in a research note 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.