Perkins Capital Management Inc. lessened its stake in shares of Veritone Inc (NASDAQ:VERI) by 18.5% during the third quarter, according to the company in its most recent disclosure with the SEC. The fund owned 302,783 shares of the company’s stock after selling 68,667 shares during the quarter. Perkins Capital Management Inc. owned approximately 1.36% of Veritone worth $1,081,000 as of its most recent SEC filing.
Several other hedge funds and other institutional investors also recently bought and sold shares of the business. Vanguard Group Inc. grew its stake in shares of Veritone by 28.7% during the second quarter. Vanguard Group Inc. now owns 526,872 shares of the company’s stock worth $4,405,000 after buying an additional 117,586 shares during the last quarter. Northern Trust Corp grew its stake in shares of Veritone by 26.3% during the second quarter. Northern Trust Corp now owns 123,846 shares of the company’s stock worth $1,036,000 after buying an additional 25,751 shares during the last quarter. MML Investors Services LLC grew its stake in shares of Veritone by 78.6% during the second quarter. MML Investors Services LLC now owns 99,850 shares of the company’s stock worth $835,000 after buying an additional 43,950 shares during the last quarter. Vanguard Capital Wealth Advisors lifted its holdings in shares of Veritone by 133.1% during the second quarter. Vanguard Capital Wealth Advisors now owns 84,150 shares of the company’s stock worth $703,000 after purchasing an additional 48,050 shares during the period. Finally, Granite Investment Partners LLC acquired a new position in shares of Veritone during the second quarter worth $507,000. 18.35% of the stock is currently owned by hedge funds and other institutional investors.
VERI has been the topic of a number of recent research reports. ValuEngine upgraded shares of Veritone from a “buy” rating to a “strong-buy” rating in a report on Thursday, August 1st. Zacks Investment Research lowered shares of Veritone from a “buy” rating to a “hold” rating in a report on Saturday, October 12th. Two analysts have rated the stock with a hold rating, five have issued a buy rating and one has issued a strong buy rating to the company. The company currently has a consensus rating of “Buy” and a consensus target price of $12.25.
Veritone (NASDAQ:VERI) last issued its quarterly earnings results on Wednesday, August 7th. The company reported ($0.80) EPS for the quarter, topping analysts’ consensus estimates of ($0.86) by $0.06. The company had revenue of $12.27 million for the quarter, compared to analyst estimates of $12.22 million. Veritone had a negative net margin of 155.58% and a negative return on equity of 96.89%. Veritone’s revenue was up 194.4% compared to the same quarter last year. During the same quarter in the previous year, the business earned ($0.88) earnings per share. Sell-side analysts anticipate that Veritone Inc will post -3.16 EPS for the current fiscal year.
Veritone, Inc provides artificial intelligence (AI) and computing solutions in the United States and the United Kingdom. It develops and operates aiWARE platform, an AI operating system that unlocks the power of cognitive computing to transform audio, video, and other unstructured data, as well as analyzes it in conjunction with structured data in an orchestrated and automated manner to generate actionable intelligence.
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