Veritone, Inc. (NASDAQ:VERI – Get Rating) President Ryan Steelberg acquired 35,367 shares of Veritone stock in a transaction dated Tuesday, September 13th. The shares were purchased at an average price of $6.82 per share, with a total value of $241,202.94. Following the acquisition, the president now owns 128,714 shares of the company's stock, valued at $877,829.48. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink.

Ryan Steelberg also recently made the following trade(s):

• On Thursday, September 15th, Ryan Steelberg purchased 15,420 shares of Veritone stock. The stock was acquired at an average price of $6.98 per share, with a total value of $107,631.60.

Veritone Stock Up 1.7 %

NASDAQ VERI opened at $7.14 on Friday. Veritone, Inc. has a 1-year low of $5.72 and a 1-year high of $37.14. The company has a current ratio of 1.78, a quick ratio of 1.78 and a debt-to-equity ratio of 2.79. The company has a 50 day moving average of $7.22 and a 200-day moving average of $10.05.

Analysts Set New Price Targets

Separately, Bank of America downgraded shares of Veritone from a "buy" rating to a "neutral" rating and dropped their price target for the company from $14.00 to $10.00 in a research report on Wednesday, July 13th. Three research analysts have rated the stock with a hold rating and two have issued a buy rating to the company's stock. Based on data from MarketBeat.com, Veritone currently has a consensus rating of "Hold" and a consensus price target of $19.50.

Institutional Inflows and Outflows

Institutional investors have recently added to or reduced their stakes in the company. Huntington National Bank acquired a new position in Veritone during the first quarter valued at approximately $25,000. Quantbot Technologies LP acquired a new position in shares of Veritone during the second quarter worth $35,000. PNC Financial Services Group Inc. acquired a new position in shares of Veritone during the first quarter worth $43,000. Private Capital Group LLC acquired a new position in shares of Veritone during the first quarter worth $64,000. Finally, Ensign Peak Advisors Inc increased its holdings in shares of Veritone by 125.5% during the second quarter. Ensign Peak Advisors Inc now owns 9,990 shares of the company's stock worth $65,000 after buying an additional 5,560 shares in the last quarter. 44.27% of the stock is currently owned by institutional investors and hedge funds.

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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