Ryan Steelberg Buys 49,752 Shares of Veritone, Inc. (NASDAQ:VERI) Stock

Veritone, Inc. (NASDAQ:VERI) CEO Ryan Steelberg bought 49,752 shares of the stock in a transaction on Friday, November 17th. The stock was purchased at an average cost of $2.05 per share, with a total value of $101,991.60. Following the purchase, the chief executive officer now directly owns 215,174 shares of the company’s stock, valued at approximately $441,106.70. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website.

Veritone Stock Up 6.4 %

Shares of Veritone stock traded up $0.13 during trading on Monday, reaching $2.17. The stock had a trading volume of 614,116 shares, compared to its average volume of 603,194. The company has a market capitalization of $80.40 million, a price-to-earnings ratio of -1.12 and a beta of 3.15. The stock has a fifty day moving average price of $2.39 and a two-hundred day moving average price of $3.28. Veritone, Inc. has a 52 week low of $1.54 and a 52 week high of $10.99. The company has a current ratio of 0.87, a quick ratio of 0.94 and a debt-to-equity ratio of 7.40.

Wall Street Analyst Weigh In

Several brokerages have issued reports on VERI. Roth Capital downgraded Veritone from a “neutral” rating to a “sell” rating in a report on Wednesday, August 9th. Roth Mkm lowered shares of Veritone from a “neutral” rating to a “sell” rating and cut their price target for the company from $3.50 to $2.00 in a research note on Wednesday, August 9th.

Institutional Trading of Veritone

A number of hedge funds and other institutional investors have recently made changes to their positions in VERI. Vanguard Group Inc. boosted its stake in shares of Veritone by 32.4% during the 3rd quarter. Vanguard Group Inc. now owns 2,362,812 shares of the company’s stock worth $13,303,000 after buying an additional 578,235 shares during the last quarter. Private Management Group Inc. boosted its holdings in shares of Veritone by 18.6% in the 3rd quarter. Private Management Group Inc. now owns 1,981,922 shares of the company’s stock valued at $5,113,000 after buying an additional 311,293 shares during the last quarter. Jacobs Levy Equity Management Inc. acquired a new stake in shares of Veritone in the 3rd quarter valued at approximately $750,000. Vontobel Holding Ltd. acquired a new stake in shares of Veritone in the 2nd quarter valued at approximately $1,074,000. Finally, Banta Asset Management LP boosted its holdings in shares of Veritone by 7.4% in the 3rd quarter. Banta Asset Management LP now owns 2,513,431 shares of the company’s stock valued at $6,485,000 after buying an additional 172,675 shares during the last quarter. 37.31% of the stock is currently owned by institutional investors and hedge funds.

Veritone Company Profile

Veritone, Inc, together with its subsidiaries, provides artificial intelligence (AI) computing solutions and services 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 and 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.