Veritone (NASDAQ:VERI) Earns Buy Rating from Analysts at D. Boral Capital

D. Boral Capital started coverage on shares of Veritone (NASDAQ:VERI) in a research note issued to investors on Monday, MarketBeat reports. The firm issued a buy rating and a $4.50 price target on the stock.

Separately, UBS Group raised Veritone from a “sell” rating to a “neutral” rating and set a $3.50 price objective for the company in a report on Wednesday, October 30th.

Veritone Stock Down 1.7 %

Veritone stock opened at $3.39 on Monday. The stock has a 50-day simple moving average of $2.87 and a 200 day simple moving average of $3.16. Veritone has a 12-month low of $1.65 and a 12-month high of $7.76. The stock has a market capitalization of $136.21 million, a price-to-earnings ratio of -1.57 and a beta of 3.15.

Insider Activity

In related 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 value of $1,271,735.64. Following the completion of the transaction, the director now directly owns 31,861 shares in the company, valued at approximately $80,289.72. The trade was a 94.06 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. 26.60% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On Veritone

Institutional investors and hedge funds have recently modified their holdings of the business. Renaissance Technologies LLC acquired a new position in shares of Veritone in the 2nd quarter valued at approximately $811,000. Private Management Group Inc. boosted its position in Veritone by 18.6% during the 3rd quarter. Private Management Group Inc. now owns 2,891,845 shares of the company’s stock worth $10,382,000 after acquiring an additional 452,861 shares during the last quarter. GSA Capital Partners LLP boosted its position in 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 acquiring an additional 92,150 shares during the last quarter. Cubist Systematic Strategies LLC acquired a new position in Veritone during the 2nd quarter worth approximately $203,000. Finally, Bfsg LLC boosted its position in 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 during the last quarter. 39.18% of the stock is currently owned by institutional investors and hedge funds.

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.