Envestnet Asset Management Inc. purchased a new stake in Veritone, Inc. (NASDAQ:VERI – Get Rating) in the 1st quarter, according to the company in its most recent 13F filing with the SEC. The fund purchased 43,910 shares of the company's stock, valued at approximately $803,000. Envestnet Asset Management Inc. owned approximately 0.12% of Veritone as of its most recent filing with the SEC.
Other large investors have also modified their holdings of the company. Benjamin F. Edwards & Company Inc. raised its stake in shares of Veritone by 150.0% during the 4th quarter. Benjamin F. Edwards & Company Inc. now owns 2,500 shares of the company's stock worth $56,000 after acquiring an additional 1,500 shares in the last quarter. Private Capital Group LLC bought a new position in shares of Veritone during the 1st quarter worth approximately $64,000. Manchester Capital Management LLC bought a new position in shares of Veritone during the 4th quarter worth approximately $70,000. Ensign Peak Advisors Inc purchased a new stake in Veritone during the 4th quarter worth approximately $87,000. Finally, Zurcher Kantonalbank Zurich Cantonalbank grew its position in Veritone by 103.1% during the 4th quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 4,660 shares of the company's stock worth $105,000 after purchasing an additional 2,366 shares during the last quarter. Institutional investors own 49.82% of the company's stock.
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Insider Activity
In other Veritone news, Director G Louis Graziadio III acquired 5,000 shares of the company's stock in a transaction dated Thursday, August 18th. The shares were acquired at an average cost of $7.48 per share, with a total value of $37,400.00. Following the acquisition, the director now directly owns 157,054 shares of the company's stock, valued at $1,174,763.92. The purchase was disclosed in a document filed with the SEC, which is accessible through the SEC website. Insiders own 27.20% of the company's stock.
Analysts Set New Price Targets
Several analysts have weighed in on VERI shares. JMP Securities dropped their target price on shares of Veritone from $49.00 to $24.00 in a research report on Friday, April 29th. Bank of America downgraded shares of Veritone from a "buy" rating to a "neutral" rating and dropped their target price for the stock from $14.00 to $10.00 in a research report on Wednesday, July 13th. Finally, Craig Hallum dropped their target price on shares of Veritone from $19.00 to $12.00 in a research report on Wednesday, May 4th. Three equities research analysts have rated the stock with a hold rating and two have given a buy rating to the company's stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of "Hold" and a consensus target price of $19.50.
Veritone Stock Up 8.8 %
VERI stock opened at $7.51 on Friday. The firm's fifty day simple moving average is $7.13 and its 200-day simple moving average is $11.23. The company has a market capitalization of $271.37 million, a P/E ratio of -4.47 and a beta of 3.03. The company has a debt-to-equity ratio of 2.79, a current ratio of 1.78 and a quick ratio of 1.78. Veritone, Inc. has a 12 month low of $5.72 and a 12 month high of $37.14.
Veritone Profile
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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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