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

Veritone, Inc. (NASDAQ:VERI) Director Chad Steelberg sold 504,657 shares of the company’s stock in a transaction on Friday, December 13th. The stock was sold at an average price of $2.52, for a total value of $1,271,735.64. Following 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 position. The sale was disclosed in a filing with the SEC, which is available through this hyperlink.

Veritone Stock Performance

Veritone stock traded down $0.09 during trading on Tuesday, reaching $2.37. The company had a trading volume of 822,174 shares, compared to its average volume of 1,230,828. The firm has a market capitalization of $90.80 million, a price-to-earnings ratio of -1.10 and a beta of 3.21. Veritone, Inc. has a 52 week low of $1.48 and a 52 week high of $7.76. The firm’s 50-day simple moving average is $3.27 and its 200 day simple moving average is $3.08. The company has a current ratio of 0.66, a quick ratio of 0.66 and a debt-to-equity ratio of 9.02.

Wall Street Analyst Weigh In

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 report on Wednesday, October 30th.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently made changes to their positions in the stock. Bfsg LLC increased its position in shares of Veritone by 13.4% in the third quarter. Bfsg LLC now owns 23,450 shares of the company’s stock valued at $84,000 after buying an additional 2,775 shares in the last quarter. Benjamin Edwards Inc. acquired a new position in Veritone in the 3rd quarter valued at about $65,000. Point72 DIFC Ltd purchased a new stake in Veritone in the 2nd quarter valued at approximately $42,000. Ground Swell Capital LLC acquired a new stake in Veritone in the second quarter valued at $43,000. Finally, Summit Securities Group LLC purchased a new stake in Veritone in the 2nd quarter valued at about $58,000. 39.18% of the stock is currently owned by hedge funds and other institutional investors.

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.