D. Boral Capital Begins Coverage on Veritone (NASDAQ:VERI)

Equities research analysts at D. Boral Capital began coverage on shares of Veritone (NASDAQ:VERI) in a note issued to investors on Monday, MarketBeat.com reports. The firm set a “buy” rating and a $4.50 price target on the stock. D. Boral Capital’s target price suggests a potential upside of 30.43% 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 report on Wednesday, October 30th.

Veritone Stock Up 5.2 %

NASDAQ VERI opened at $3.45 on Monday. The firm has a market cap of $138.62 million, a P/E ratio of -1.60 and a beta of 3.15. Veritone has a 52-week low of $1.65 and a 52-week high of $7.76. The business’s 50-day moving average price is $2.86 and its 200 day moving average price is $3.15.

Insider Activity at Veritone

In related news, Director Chad Steelberg sold 504,657 shares of the company’s stock in a transaction 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 owns 31,861 shares of the company’s stock, valued at $80,289.72. This represents a 94.06 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this link. 26.60% of the stock is owned by insiders.

Institutional Investors Weigh In On Veritone

Hedge funds and other institutional investors have recently bought and sold shares of the business. Renaissance Technologies LLC purchased a new position in shares of Veritone in the 2nd quarter valued at about $811,000. Private Management Group Inc. grew its position in Veritone by 18.6% during the third 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 period. GSA Capital Partners LLP increased its holdings in Veritone by 559.7% in the third 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 in the last quarter. Cubist Systematic Strategies LLC acquired a new stake in shares of Veritone during the 2nd quarter valued at approximately $203,000. Finally, Bfsg LLC boosted its stake in shares of Veritone by 13.4% during the 3rd quarter. Bfsg LLC now owns 23,450 shares of the company’s stock worth $84,000 after acquiring an additional 2,775 shares in the last quarter. Institutional investors and hedge funds own 39.18% of the company’s stock.

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.