Connective Capital Management LLC Purchases New Stake in Veritone, Inc. $VERI

Connective Capital Management LLC acquired a new position in shares of Veritone, Inc. (NASDAQ:VERI) in the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm acquired 521,059 shares of the company’s stock, valued at approximately $657,000. Veritone comprises approximately 0.6% of Connective Capital Management LLC’s holdings, making the stock its 29th largest holding. Connective Capital Management LLC owned about 1.10% of Veritone as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Geode Capital Management LLC lifted its holdings in Veritone by 4.2% during the second quarter. Geode Capital Management LLC now owns 480,842 shares of the company’s stock valued at $606,000 after purchasing an additional 19,597 shares during the last quarter. Ground Swell Capital LLC purchased a new position in shares of Veritone in the second quarter worth about $27,000. Freedom Investment Management Inc. raised its position in shares of Veritone by 6.3% in the second quarter. Freedom Investment Management Inc. now owns 117,572 shares of the company’s stock valued at $148,000 after purchasing an additional 6,954 shares during the period. OMERS ADMINISTRATION Corp purchased a new stake in shares of Veritone during the 1st quarter valued at approximately $315,000. Finally, Virtu Financial LLC bought a new position in Veritone in the 1st quarter worth approximately $30,000. 39.18% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

A number of research firms have recently commented on VERI. D Boral Capital raised Veritone to a “strong-buy” rating in a report on Tuesday, September 2nd. Weiss Ratings reissued a “sell (e+)” rating on shares of Veritone in a report on Wednesday, October 8th. HC Wainwright lifted their target price on Veritone from $6.00 to $9.00 and gave the company a “buy” rating in a report on Monday, October 20th. D. Boral Capital decreased their target price on shares of Veritone from $25.00 to $23.00 and set a “buy” rating on the stock in a report on Friday, November 7th. Finally, Needham & Company LLC started coverage on Veritone in a research note on Thursday, October 23rd. They issued a “buy” rating and a $10.00 target price on the stock. One research analyst has rated the stock with a Strong Buy rating, four have assigned a Buy rating, one has assigned a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat.com, Veritone presently has an average rating of “Moderate Buy” and a consensus target price of $10.00.

Veritone Stock Performance

Veritone stock opened at $4.22 on Wednesday. Veritone, Inc. has a twelve month low of $1.22 and a twelve month high of $9.42. The company has a quick ratio of 1.31, a current ratio of 1.31 and a debt-to-equity ratio of 6.77. The firm has a fifty day simple moving average of $5.45 and a two-hundred day simple moving average of $3.29. The company has a market capitalization of $387.44 million, a PE ratio of -6.30 and a beta of 3.29.

Veritone (NASDAQ:VERI) last posted its quarterly earnings results on Thursday, November 6th. The company reported ($0.09) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.11) by $0.02. The business had revenue of $29.12 million for the quarter, compared to analyst estimates of $28.69 million. Veritone had a negative return on equity of 361.72% and a negative net margin of 42.60%. Veritone has set its Q4 2025 guidance at EPS. FY 2025 guidance at EPS.

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.