Veritone Target of Unusually Large Options Trading (NASDAQ:VERI)

Veritone, Inc. (NASDAQ:VERI) was the recipient of some unusual options trading on Thursday. Traders bought 11,012 call options on the stock. This represents an increase of 1,191% compared to the average daily volume of 853 call options.

Veritone Stock Performance

Shares of NASDAQ VERI traded up $0.55 during mid-day trading on Thursday, reaching $3.08. 3,141,962 shares of the company’s stock were exchanged, compared to its average volume of 1,229,085. The firm has a 50-day moving average price of $2.99 and a two-hundred day moving average price of $3.06. The company has a debt-to-equity ratio of 9.02, a current ratio of 0.66 and a quick ratio of 0.66. The firm has a market capitalization of $118.00 million, a price-to-earnings ratio of -1.43 and a beta of 3.22. Veritone has a 52 week low of $1.48 and a 52 week high of $7.76.

Insider Buying and Selling at Veritone

In related news, Director Chad Steelberg sold 504,657 shares of the firm’s stock in a transaction that occurred on Friday, December 13th. The stock was sold at an average price of $2.52, for a total transaction of $1,271,735.64. Following the completion of the sale, the director now owns 31,861 shares of the company’s stock, valued at $80,289.72. This trade represents a 94.06 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Corporate insiders own 26.60% of the company’s stock.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Bfsg LLC increased its stake in shares of Veritone by 13.4% during the 3rd quarter. Bfsg LLC now owns 23,450 shares of the company’s stock worth $84,000 after purchasing an additional 2,775 shares during the last quarter. Benjamin Edwards Inc. purchased a new stake in Veritone in the third quarter worth $65,000. Point72 DIFC Ltd purchased a new stake in Veritone in the second quarter worth $42,000. Ground Swell Capital LLC bought a new stake in shares of Veritone in the second quarter valued at $43,000. Finally, Citizens Financial Group Inc. RI purchased a new position in shares of Veritone during the 2nd quarter valued at $62,000. 39.18% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Separately, UBS Group raised shares of Veritone from a “sell” rating to a “neutral” rating and set a $3.50 price objective on the stock in a research report on Wednesday, October 30th.

Veritone Company Profile

Veritone, Inc, together with its subsidiaries, engages in the provision of artificial intelligence (AI) computing solutions and services in the United States, the United Kingdom, France, Australia, Israel, and India. It develops and operates aiWARE platform, an AI operating system, that uses machine learning algorithms or AI models designed to mimic 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.