Veritone (NASDAQ:VERI) Coverage Initiated at HC Wainwright

Research analysts at HC Wainwright started coverage on shares of Veritone (NASDAQ:VERI) in a research note issued to investors on Friday, Marketbeat reports. The firm set a “buy” rating on the stock.

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

Veritone Stock Performance

Shares of VERI stock opened at $2.85 on Friday. The firm has a market cap of $114.51 million, a P/E ratio of -1.32 and a beta of 3.15. Veritone has a fifty-two week low of $1.65 and a fifty-two week high of $7.76. The business’s 50 day moving average price is $3.04 and its 200-day moving average price is $3.20.

Insider Buying and Selling at Veritone

In other Veritone news, Director Chad Steelberg sold 504,657 shares of Veritone 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 completion of the transaction, the director now owns 31,861 shares in the company, valued at approximately $80,289.72. The trade was a 94.06 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 26.60% of the stock is owned by company insiders.

Institutional Inflows and Outflows

A number of large investors have recently added to or reduced their stakes in the stock. Vanguard Capital Wealth Advisors raised its stake in shares of 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 purchasing an additional 40,700 shares during the last quarter. Private Management Group Inc. raised its stake in shares of Veritone by 18.6% in the third 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 during the last quarter. GSA Capital Partners LLP raised its stake in shares of 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 purchasing an additional 92,150 shares during the last quarter. Benjamin Edwards Inc. purchased a new position in shares of Veritone in the third quarter worth $65,000. Finally, XTX Topco Ltd purchased a new position in shares of Veritone in the third quarter worth $132,000. Hedge funds and other 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.