Veritone Target of Unusually Large Options Trading (NASDAQ:VERI)

Veritone, Inc. (NASDAQ:VERI) saw unusually large options trading activity on Thursday. Stock investors purchased 11,012 call options on the stock. This represents an increase of 1,191% compared to the typical volume of 853 call options.

Veritone Stock Up 32.8 %

Veritone stock opened at $3.36 on Friday. 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 cap of $128.73 million, a PE ratio of -1.56 and a beta of 3.22. The stock has a fifty day moving average of $2.98 and a 200 day moving average of $3.06. Veritone has a one year low of $1.48 and a one year high of $7.76.

Insider Buying and Selling

In related news, Director Chad Steelberg sold 504,657 shares of the company’s stock in a transaction dated 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 transaction, the director now owns 31,861 shares in the company, valued at $80,289.72. The trade was a 94.06 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. 26.60% of the stock is owned by company insiders.

Institutional Inflows and Outflows

Institutional investors have recently added to or reduced their stakes in the business. Renaissance Technologies LLC purchased a new stake in shares of Veritone in the second quarter worth $811,000. Private Management Group Inc. grew 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 in the last quarter. Point72 DIFC Ltd purchased a new stake in Veritone during the second quarter valued at approximately $42,000. Citizens Financial Group Inc. RI bought a new stake in Veritone in the second quarter worth $62,000. Finally, GSA Capital Partners LLP boosted its stake in shares of Veritone by 559.7% during the 3rd quarter. GSA Capital Partners LLP now owns 108,614 shares of the company’s stock worth $390,000 after purchasing an additional 92,150 shares during the period. 39.18% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

Separately, UBS Group raised Veritone from a “sell” rating to a “neutral” rating and set a $3.50 price objective on the stock in a research 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.