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

Veritone, Inc. (NASDAQ:VERI) Director Chad Steelberg sold 504,657 shares of the 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 completion of the transaction, the director now owns 31,861 shares in the company, valued at $80,289.72. The trade was a 94.06 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this link.

Veritone Stock Down 3.7 %

VERI stock opened at $2.37 on Wednesday. The business’s 50-day moving average price is $3.27 and its 200-day moving average price is $3.08. The stock has a market cap of $90.80 million, a P/E ratio of -1.10 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. Veritone, Inc. has a twelve month low of $1.48 and a twelve month high of $7.76.

Analysts Set New Price Targets

Separately, UBS Group upgraded Veritone from a “sell” rating to a “neutral” rating and set a $3.50 price objective for the company in a research note on Wednesday, October 30th.

Hedge Funds Weigh In On Veritone

Several large investors have recently added to or reduced their stakes in the company. Summit Securities Group LLC purchased a new stake in shares of Veritone in the second quarter worth $58,000. Bfsg LLC increased its stake in Veritone by 31.6% in the 2nd quarter. Bfsg LLC now owns 20,675 shares of the company’s stock worth $47,000 after buying an additional 4,960 shares in the last quarter. Private Management Group Inc. raised its holdings in Veritone by 30.7% during the second quarter. Private Management Group Inc. now owns 2,438,984 shares of the company’s stock valued at $5,512,000 after acquiring an additional 572,422 shares during the period. Ground Swell Capital LLC purchased a new position in shares of Veritone in the second quarter valued at about $43,000. Finally, Citizens Financial Group Inc. RI bought a new position in shares of Veritone in the second quarter worth about $62,000. Hedge funds and other institutional investors own 39.18% of the company’s stock.

About Veritone

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.