Chad Steelberg Sells 504,657 Shares of Veritone, Inc. (NASDAQ:VERI) Stock

Veritone, Inc. (NASDAQ:VERI) Director Chad Steelberg sold 504,657 shares of the stock in a transaction dated 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 sale, 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 ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at the SEC website.

Veritone Price Performance

Veritone stock opened at $2.19 on Thursday. The stock has a market cap of $83.90 million, a price-to-earnings ratio of -1.01 and a beta of 3.21. The company has a quick ratio of 0.66, a current ratio of 0.66 and a debt-to-equity ratio of 9.02. The business has a 50-day simple moving average of $3.23 and a 200 day simple moving average of $3.07. Veritone, Inc. has a 52 week low of $1.48 and a 52 week high of $7.76.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently modified their holdings of VERI. XTX Topco Ltd purchased a new stake in Veritone in the third quarter valued at approximately $132,000. Benjamin Edwards Inc. bought a new stake in shares of Veritone during the 3rd quarter worth $65,000. GSA Capital Partners LLP lifted its holdings 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 acquiring an additional 92,150 shares during the last quarter. Private Management Group Inc. lifted 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 worth $10,382,000 after acquiring an additional 452,861 shares during the last quarter. Finally, Vanguard Capital Wealth Advisors grew its position in 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 acquiring an additional 40,700 shares in the last quarter. Hedge funds and other institutional investors own 39.18% of the company’s stock.

Wall Street Analysts Forecast Growth

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