Veritone (NASDAQ:VERI) Coverage Initiated by Analysts at HC Wainwright

HC Wainwright assumed coverage on shares of Veritone (NASDAQ:VERI) in a research note published on Friday, Marketbeat Ratings reports. The brokerage issued a buy rating on the stock.

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

Veritone Stock Performance

Shares of Veritone stock opened at $2.85 on Friday. The business has a 50-day moving average of $3.04 and a two-hundred day moving average of $3.20. Veritone has a 1 year low of $1.65 and a 1 year high of $7.76.

Insider Buying and Selling

In other Veritone news, Director Chad Steelberg sold 504,657 shares of the business’s stock in a transaction that occurred on Friday, December 13th. The stock was sold at an average price of $2.52, for a total value of $1,271,735.64. Following the sale, the director now owns 31,861 shares in the company, valued at approximately $80,289.72. The trade was a 94.06 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. 26.60% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On Veritone

Several hedge funds have recently made changes to their positions in VERI. Clarity Capital Partners LLC acquired a new position in Veritone during the fourth quarter worth $34,000. Bayesian Capital Management LP bought a new stake in Veritone during the 4th quarter worth about $39,000. LPL Financial LLC acquired a new position in shares of Veritone during the 4th quarter worth about $48,000. Benjamin Edwards Inc. bought a new position in shares of Veritone in the 3rd quarter valued at about $65,000. Finally, Charles Schwab Investment Management Inc. acquired a new stake in shares of Veritone in the fourth quarter valued at about $66,000. 39.18% of the stock is owned by institutional investors.

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.