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

Veritone, Inc. (NASDAQ:VERI) 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 transaction of $1,271,735.64. Following the completion of the transaction, the director now owns 31,861 shares of the company’s stock, valued at approximately $80,289.72. The trade was a 94.06 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website.

Veritone Price Performance

VERI opened at $2.37 on Wednesday. The company’s 50-day simple moving average is $3.27 and its two-hundred day simple moving average is $3.08. The company has a debt-to-equity ratio of 9.02, a quick ratio of 0.66 and a current ratio of 0.66. The stock has a market capitalization of $90.80 million, a P/E ratio of -1.10 and a beta of 3.21. Veritone, Inc. has a 52-week low of $1.48 and a 52-week high of $7.76.

Institutional Inflows and Outflows

Several hedge funds have recently made changes to their positions in VERI. Renaissance Technologies LLC purchased a new stake in Veritone in the second quarter worth approximately $811,000. Private Management Group Inc. boosted its stake in shares of Veritone by 18.6% in the 3rd quarter. Private Management Group Inc. now owns 2,891,845 shares of the company’s stock worth $10,382,000 after buying an additional 452,861 shares during the last quarter. Point72 DIFC Ltd purchased a new position in shares of Veritone in the 2nd quarter worth $42,000. Citizens Financial Group Inc. RI bought a new stake in shares of Veritone in the second quarter worth $62,000. Finally, GSA Capital Partners LLP increased its position in 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 acquiring an additional 92,150 shares during the last quarter. 39.18% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Separately, UBS Group raised Veritone from a “sell” rating to a “neutral” rating and set a $3.50 target price for the company in a report 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.