Veritone (NASDAQ:VERI) Coverage Initiated by Analysts at D. Boral Capital

Analysts at D. Boral Capital assumed coverage on shares of Veritone (NASDAQ:VERI - Get Free Report) in a note issued to investors on Monday, MarketBeat reports. The brokerage set a "buy" rating and a $4.50 price target on the stock. D. Boral Capital's target price suggests a potential upside of 39.32% from the company's current price.

Separately, UBS Group raised Veritone from a "sell" rating to a "neutral" rating and set a $3.50 price target for the company in a research note on Wednesday, October 30th.

Veritone Stock Performance

NASDAQ:VERI traded down $0.16 during trading hours on Monday, hitting $3.23. 504,548 shares of the company's stock traded hands, compared to its average volume of 909,548. The firm has a market cap of $129.78 million, a P/E ratio of -1.50 and a beta of 3.15. Veritone has a twelve month low of $1.65 and a twelve month high of $7.76. The stock's fifty day moving average price is $2.88 and its two-hundred day moving average price is $3.16.

Insider Activity

In other news, Director Chad Steelberg sold 504,657 shares of the firm's stock in a transaction on Friday, December 13th. The shares were sold at an average price of $2.52, for a total transaction 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 trade represents a 94.06 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. 26.60% of the stock is owned by insiders.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently modified their holdings of VERI. Private Management Group Inc. raised its holdings in shares of Veritone by 18.6% during the 3rd quarter. Private Management Group Inc. now owns 2,891,845 shares of the company's stock valued at $10,382,000 after purchasing an additional 452,861 shares in the last quarter. Renaissance Technologies LLC acquired a new position in Veritone in the 2nd quarter valued at $811,000. GSA Capital Partners LLP grew its stake 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 during the last quarter. Cubist Systematic Strategies LLC acquired a new position in Veritone in the 2nd quarter valued at $203,000. Finally, Vanguard Capital Wealth Advisors grew its stake in 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 buying an additional 40,700 shares during the last quarter. 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.