HC Wainwright Begins Coverage on Veritone (NASDAQ:VERI)

HC Wainwright initiated coverage on shares of Veritone (NASDAQ:VERI) in a research report issued on Friday,Briefing.com Automated Import reports. The brokerage set a “buy” rating on the stock.

Several other equities research analysts also recently commented on the company. UBS Group upgraded Veritone from a “sell” rating to a “neutral” rating and set a $3.50 price objective for the company in a report on Wednesday, October 30th. D. Boral Capital assumed coverage on shares of Veritone in a report on Monday, February 3rd. They set a “buy” rating and a $4.50 price objective on the stock.

Veritone Stock Performance

Shares of VERI stock traded down $0.08 during trading hours on Friday, hitting $2.87. 195,032 shares of the company were exchanged, compared to its average volume of 863,860. The company has a 50 day simple moving average of $3.04 and a two-hundred day simple moving average of $3.19. The firm has a market cap of $115.20 million, a P/E ratio of -1.33 and a beta of 3.15. Veritone has a fifty-two week low of $1.65 and a fifty-two week high of $7.76.

Insiders Place Their Bets

In other Veritone news, Director Chad Steelberg sold 504,657 shares of the stock in a transaction that occurred on Friday, December 13th. The shares were 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 sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Corporate insiders own 26.60% of the company’s stock.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently made changes to their positions in the company. Private Management Group Inc. raised its stake in shares of Veritone by 18.6% during the third quarter. Private Management Group Inc. now owns 2,891,845 shares of the company’s stock valued at $10,382,000 after acquiring an additional 452,861 shares during the last quarter. Geode Capital Management LLC lifted its holdings in Veritone by 3.7% in the 4th quarter. Geode Capital Management LLC now owns 377,056 shares of the company’s stock worth $1,237,000 after buying an additional 13,397 shares during the period. Northern Trust Corp grew its position in shares of Veritone by 24.2% in the 4th quarter. Northern Trust Corp now owns 146,105 shares of the company’s stock worth $479,000 after buying an additional 28,510 shares during the last quarter. GSA Capital Partners LLP increased its stake in shares of Veritone by 559.7% during the third quarter. GSA Capital Partners LLP now owns 108,614 shares of the company’s stock valued at $390,000 after buying an additional 92,150 shares during the period. Finally, Vanguard Capital Wealth Advisors raised its holdings in shares of Veritone by 6.5% during the fourth quarter. Vanguard Capital Wealth Advisors now owns 75,214 shares of the company’s stock valued at $247,000 after acquiring an additional 4,614 shares in the last quarter. Institutional investors own 39.18% of the company’s stock.

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.