Veritone (NASDAQ:VERI) CEO Purchases $126,488.50 in Stock

Veritone, Inc. (NASDAQ:VERI) CEO Ryan Steelberg acquired 148,810 shares of Veritone stock in a transaction that occurred on Friday, August 21st. The shares were purchased at an average price of $0.85 per share, with a total value of $126,488.50. Following the transaction, the chief executive officer owned 730,284 shares of the company’s stock, valued at $620,741.40. The trade was a 25.59% increase in their position. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website.

Veritone Trading Down 0.4%

VERI stock traded down $0.00 during trading on Monday, reaching $0.86. The stock had a trading volume of 3,901,326 shares, compared to its average volume of 2,839,878. The firm has a market cap of $86.01 million, a PE ratio of -2.25 and a beta of 2.29. The stock’s 50 day moving average is $1.22 and its two-hundred day moving average is $1.99. Veritone, Inc. has a 52 week low of $0.80 and a 52 week high of $9.42.

Veritone (NASDAQ:VERI) last released its quarterly earnings results on Thursday, August 13th. The company reported ($0.11) EPS for the quarter, meeting the consensus estimate of ($0.11). Veritone had a negative net margin of 111.90% and a negative return on equity of 159.15%. The firm had revenue of $24.26 million during the quarter, compared to analyst estimates of $28.29 million.

Analyst Ratings Changes

VERI has been the topic of several analyst reports. Wall Street Zen upgraded shares of Veritone from a “strong sell” rating to a “sell” rating in a research note on Saturday, August 1st. Needham & Company LLC decreased their target price on Veritone to $5.00 and set a “buy” rating on the stock in a report on Friday, August 14th. Weiss Ratings upgraded Veritone from a “sell (e+)” rating to a “sell (d-)” rating in a research report on Tuesday, August 11th. Finally, UBS Group began coverage on Veritone in a report on Monday, June 1st. They set a “neutral” rating and a $2.50 price target for the company. Three equities research analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has assigned a Sell rating to the company’s stock. According to MarketBeat, Veritone has a consensus rating of “Hold” and an average target price of $6.12.

Hedge Funds Weigh In On Veritone

Hedge funds have recently modified their holdings of the company. State of Wyoming bought a new stake in shares of Veritone during the 4th quarter valued at $25,000. Franklin Resources Inc. bought a new stake in Veritone during the third quarter valued at about $50,000. SummitTX Capital L.P. purchased a new position in shares of Veritone in the first quarter valued at about $26,000. Sherbrooke Park Advisers LLC purchased a new position in shares of Veritone in the third quarter valued at about $80,000. Finally, Jefferies Financial Group Inc. bought a new position in shares of Veritone in the third quarter worth about $82,000. 39.18% of the stock is currently owned by institutional investors.

Veritone Company Profile

Veritone, Inc (NASDAQ: VERI) is a technology company specializing in artificial intelligence solutions for media, legal, government and enterprise applications. Its flagship offering, aiWARE™, is a cloud-based operating system that orchestrates and automates an ecosystem of machine learning models to transform unstructured data—such as audio, video and text—into actionable intelligence. By providing a modular AI environment, Veritone enables organizations to deploy, manage and scale cognitive engines that address diverse use cases from transcription and translation to sentiment analysis and facial recognition.

Through aiWARE and its suite of purpose-built applications, the company delivers turnkey solutions for content licensing, media monitoring, eDiscovery, compliance and public safety.