Chad Steelberg Sells 504,657 Shares of Veritone, Inc. (NASDAQ:VERI) Stock

Veritone, Inc. (NASDAQ:VERI) Director Chad Steelberg sold 504,657 shares of the company’s stock in a transaction on Friday, December 13th. The shares were 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 directly owns 31,861 shares in the company, valued at $80,289.72. This represents a 94.06 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link.

Veritone Stock Performance

VERI traded down $0.09 during trading on Tuesday, reaching $2.37. 822,174 shares of the company’s stock were exchanged, compared to its average volume of 1,230,828. The business has a 50 day moving average price of $3.27 and a 200 day moving average price of $3.08. The company has a quick ratio of 0.66, a current ratio of 0.66 and a debt-to-equity ratio of 9.02. The company has a market capitalization of $90.80 million, a P/E ratio of -1.10 and a beta of 3.21. Veritone, Inc. has a fifty-two week low of $1.48 and a fifty-two week high of $7.76.

Analyst Upgrades and Downgrades

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

Institutional Investors Weigh In On Veritone

A number of institutional investors and hedge funds have recently made changes to their positions in VERI. Private Management Group Inc. lifted its holdings in Veritone by 18.6% during the third quarter. Private Management Group Inc. now owns 2,891,845 shares of the company’s stock worth $10,382,000 after acquiring an additional 452,861 shares in the last quarter. Renaissance Technologies LLC acquired a new position in Veritone in the 2nd quarter valued at about $811,000. GSA Capital Partners LLP lifted its holdings in shares of Veritone by 559.7% during the third quarter. GSA Capital Partners LLP now owns 108,614 shares of the company’s stock worth $390,000 after buying an additional 92,150 shares in the last quarter. Cubist Systematic Strategies LLC acquired a new stake in Veritone during the second quarter worth approximately $203,000. Finally, Vanguard Capital Wealth Advisors increased its stake in Veritone by 136.1% in the third quarter. Vanguard Capital Wealth Advisors now owns 70,600 shares of the company’s stock valued at $253,000 after acquiring an additional 40,700 shares during the last quarter. Institutional investors own 39.18% of the company’s stock.

About Veritone

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.