Versor Investments LP Purchases New Shares in Veritone, Inc. (NASDAQ:VERI)

Versor Investments LP purchased a new stake in shares of Veritone, Inc. (NASDAQ:VERI – Get Rating) during the 1st quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund purchased 11,200 shares of the company’s stock, valued at approximately $205,000.

Several other hedge funds also recently made changes to their positions in the company. Benjamin F. Edwards & Company Inc. boosted its position in shares of Veritone by 150.0% during the fourth quarter. Benjamin F. Edwards & Company Inc. now owns 2,500 shares of the company’s stock valued at $56,000 after purchasing an additional 1,500 shares in the last quarter. Nisa Investment Advisors LLC raised its stake in Veritone by 6.3% during the first quarter. Nisa Investment Advisors LLC now owns 37,630 shares of the company’s stock valued at $688,000 after buying an additional 2,230 shares during the last quarter. Zurcher Kantonalbank Zurich Cantonalbank raised its stake in Veritone by 103.1% during the fourth quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 4,660 shares of the company’s stock valued at $105,000 after buying an additional 2,366 shares during the last quarter. Manchester Capital Management LLC purchased a new position in Veritone during the fourth quarter valued at $70,000. Finally, Private Capital Group LLC purchased a new position in Veritone during the first quarter valued at $64,000. 49.82% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

VERI has been the subject of a number of recent research reports. Bank of America cut Veritone from a “buy” rating to a “neutral” rating and lowered their price objective for the company from $14.00 to $10.00 in a research note on Wednesday, July 13th. JMP Securities lowered their price objective on Veritone from $49.00 to $24.00 in a research note on Friday, April 29th. UBS Group initiated coverage on Veritone in a research note on Tuesday, April 12th. They set a “neutral” rating and a $18.00 price objective for the company. Finally, Craig Hallum lowered their price objective on Veritone from $19.00 to $12.00 in a research note on Wednesday, May 4th. Three analysts have rated the stock with a hold rating and two have issued a buy rating to the stock. According to MarketBeat, the stock currently has an average rating of “Hold” and a consensus target price of $19.50.

Veritone Stock Up 0.6 %

VERI stock opened at $7.03 on Monday. Veritone, Inc. has a 1-year low of $5.72 and a 1-year high of $37.14. The business has a fifty day moving average price of $6.95 and a 200-day moving average price of $12.24. The company has a debt-to-equity ratio of 3.49, a current ratio of 2.03 and a quick ratio of 2.03. The stock has a market capitalization of $253.56 million, a P/E ratio of -3.55 and a beta of 3.14.

Veritone (NASDAQ:VERI – Get Rating) last posted its quarterly earnings results on Tuesday, May 3rd. The company reported ($0.80) earnings per share for the quarter, missing the consensus estimate of ($0.42) by ($0.38). The business had revenue of $34.41 million during the quarter, compared to analysts’ expectations of $33.17 million. Veritone had a negative return on equity of 84.40% and a negative net margin of 52.10%. During the same quarter in the prior year, the firm earned ($0.95) EPS. Equities analysts forecast that Veritone, Inc. will post -1.35 earnings per share for the current fiscal year.

About Veritone

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Veritone, Inc, together with its subsidiaries, provides artificial intelligence (AI) computing solutions in the United States and the United Kingdom. It develops and operates aiWARE platform, an AI operating system that uses machine learning algorithms or AI models, such as perception, prediction, and problem solving and optimization, as well as cognitive processes, including transcription, language translation, face detection and recognition, object detection and recognition, logo recognition, sentiment analysis, text keyword/topic analysis, audio/video fingerprinting, geolocation, visual moderation, and optical character recognition to reveal valuable insights from vast amounts of structured and unstructured data.

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