Private Management Group Inc. Trims Stock Position in Veritone, Inc. (NASDAQ:VERI)

Private Management Group Inc. lessened its holdings in Veritone, Inc. (NASDAQ:VERI - Free Report) by 15.4% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 2,447,235 shares of the company's stock after selling 444,610 shares during the quarter. Private Management Group Inc. owned 6.09% of Veritone worth $8,027,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in the business. Benjamin Edwards Inc. acquired a new stake in shares of Veritone in the 3rd quarter valued at approximately $65,000. Bfsg LLC lifted its holdings in Veritone by 13.4% in the third quarter. Bfsg LLC now owns 23,450 shares of the company's stock valued at $84,000 after acquiring an additional 2,775 shares during the period. XTX Topco Ltd purchased a new stake in shares of Veritone during the 3rd quarter worth $132,000. Cubist Systematic Strategies LLC acquired a new position in shares of Veritone during the 2nd quarter worth $203,000. Finally, Vanguard Capital Wealth Advisors increased its holdings in shares of Veritone by 136.1% in the 3rd quarter. Vanguard Capital Wealth Advisors now owns 70,600 shares of the company's stock valued at $253,000 after purchasing an additional 40,700 shares in the last quarter. Institutional investors and hedge funds own 39.18% of the company's stock.

Veritone Trading Up 8.4 %

Shares of NASDAQ:VERI traded up $0.27 during midday trading on Friday, hitting $3.50. 1,007,710 shares of the stock were exchanged, compared to its average volume of 714,666. Veritone, Inc. has a twelve month low of $1.65 and a twelve month high of $7.76. The company has a 50 day moving average price of $2.90 and a 200-day moving average price of $3.16.

Insider Buying and Selling at Veritone

In other 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 value of $1,271,735.64. Following the sale, the director now directly owns 31,861 shares in the company, valued at $80,289.72. This represents a 94.06 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. 26.60% of the stock is currently owned by insiders.

Analysts Set New Price Targets

A number of analysts recently commented on VERI shares. UBS Group raised shares of Veritone from a "sell" rating to a "neutral" rating and set a $3.50 price objective on the stock in a report on Wednesday, October 30th. D. Boral Capital initiated coverage on Veritone in a research note on Monday, February 3rd. They set a "buy" rating and a $4.50 price target on the stock.

Veritone 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.