HC Wainwright Initiates Coverage on Veritone (NASDAQ:VERI)

HC Wainwright started coverage on shares of Veritone (NASDAQ:VERI) in a research note issued to investors on Friday, MarketBeat reports. The firm issued a buy rating on the stock.

VERI has been the subject of several other reports. D. Boral Capital started coverage on shares of Veritone in a research note on Monday, February 3rd. They issued a “buy” rating and a $4.50 target price for the company. UBS Group raised Veritone from a “sell” rating to a “neutral” rating and set a $3.50 price objective for the company in a research report on Wednesday, October 30th.

Veritone Trading Down 3.1 %

Shares of VERI stock opened at $2.85 on Friday. The company has a fifty day moving average price of $3.04 and a two-hundred day moving average price of $3.20. Veritone has a one year low of $1.65 and a one year high of $7.76.

Insider Activity

In related news, Director Chad Steelberg sold 504,657 shares of the company’s stock in a transaction dated Friday, December 13th. The shares were sold at an average price of $2.52, for a total value of $1,271,735.64. Following the transaction, the director now owns 31,861 shares in the company, valued at approximately $80,289.72. This represents a 94.06 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Insiders own 26.60% of the company’s stock.

Institutional Investors Weigh In On Veritone

Several hedge funds have recently bought and sold shares of VERI. Private Management Group Inc. increased 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 worth $10,382,000 after purchasing an additional 452,861 shares during the period. GSA Capital Partners LLP grew its holdings in Veritone by 559.7% in the 3rd 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 in the last quarter. Benjamin Edwards Inc. bought a new position in Veritone during the 3rd quarter worth $65,000. Vanguard Capital Wealth Advisors increased its position in Veritone by 136.1% during the 3rd 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 period. Finally, Clarity Capital Partners LLC acquired a new stake in shares of Veritone during the fourth quarter worth $34,000. 39.18% of the stock is currently owned by institutional investors and hedge funds.

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.