Veritone (NASDAQ:VERI) Coverage Initiated at HC Wainwright

Stock analysts at HC Wainwright initiated coverage on shares of Veritone (NASDAQ:VERI - Get Free Report) in a research note issued to investors on Friday, Marketbeat.com reports. The brokerage set a "buy" rating and a $6.00 price target on the stock. HC Wainwright's price objective would indicate a potential upside of 143.90% from the stock's current price.

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

Veritone Trading Down 8.6 %

Shares of NASDAQ:VERI traded down $0.23 on Friday, reaching $2.46. 977,259 shares of the company traded hands, compared to its average volume of 884,979. The stock has a market capitalization of $98.84 million, a P/E ratio of -1.14 and a beta of 3.15. The business's 50-day simple moving average is $3.05 and its 200 day simple moving average is $3.21. Veritone has a 52 week low of $1.65 and a 52 week high of $7.76.

Insider Activity at Veritone

In other 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 transaction of $1,271,735.64. Following the transaction, the director now directly 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 transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. 26.60% of the stock is owned by company insiders.

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Institutional Trading of Veritone

Several large investors have recently added to or reduced their stakes in the stock. Private Management Group Inc. raised its holdings in 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 purchasing an additional 452,861 shares in the last quarter. GSA Capital Partners LLP raised its stake in Veritone by 559.7% in the third quarter. GSA Capital Partners LLP now owns 108,614 shares of the company's stock worth $390,000 after buying an additional 92,150 shares in the last quarter. Vanguard Capital Wealth Advisors lifted its holdings in Veritone by 136.1% in the third 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. Jane Street Group LLC purchased a new stake in Veritone in the fourth quarter worth about $130,000. Finally, XTX Topco Ltd bought a new stake in Veritone during the 3rd quarter valued at approximately $132,000. 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.