Veritone (NASDAQ:VERI) Research Coverage Started at HC Wainwright

HC Wainwright started coverage on shares of Veritone (NASDAQ:VERI) in a research note issued to investors on Friday morning, MarketBeat Ratings reports. The brokerage issued a buy rating on the stock.

VERI has been the topic of a number of other reports. 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 target on the stock. UBS Group upgraded Veritone from a “sell” rating to a “neutral” rating and set a $3.50 price objective for the company in a research note on Wednesday, October 30th.

Veritone Price Performance

VERI stock opened at $2.85 on Friday. Veritone has a 1 year low of $1.65 and a 1 year high of $7.76. The firm has a 50-day moving average of $3.04 and a 200 day moving average of $3.21. The company has a market cap of $114.51 million, a P/E ratio of -1.32 and a beta of 3.15.

Insiders Place Their Bets

In other news, Director Chad Steelberg sold 504,657 shares of Veritone stock in a transaction that occurred on Friday, December 13th. The shares were sold at an average price of $2.52, for a total transaction of $1,271,735.64. Following the sale, the director now owns 31,861 shares in the company, valued at $80,289.72. This trade represents a 94.06 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. 26.60% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently modified their holdings of the company. Clarity Capital Partners LLC purchased a new stake in Veritone during the fourth quarter valued at approximately $34,000. Bayesian Capital Management LP purchased a new stake in Veritone during the 4th quarter valued at $39,000. LPL Financial LLC bought a new stake in Veritone in the fourth quarter worth $48,000. Benjamin Edwards Inc. purchased a new position in Veritone during the third quarter worth $65,000. Finally, Charles Schwab Investment Management Inc. bought a new position in Veritone during the fourth quarter valued at $66,000. 39.18% of the stock is currently owned by institutional investors.

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.