Veritone, Inc. (NASDAQ:VERI) Shares Sold by Bfsg LLC

Bfsg LLC cut its stake in shares of Veritone, Inc. (NASDAQ:VERI) by 26.5% during the fourth quarter, Holdings Channel.com reports. The institutional investor owned 17,240 shares of the company’s stock after selling 6,210 shares during the quarter. Bfsg LLC’s holdings in Veritone were worth $57,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds have also recently made changes to their positions in the company. Clarity Capital Partners LLC purchased a new stake in Veritone during the 4th quarter valued at about $34,000. XTX Topco Ltd acquired a new stake in shares of Veritone during the third quarter worth about $132,000. Benjamin Edwards Inc. acquired a new stake in shares of Veritone during the third quarter worth about $65,000. GSA Capital Partners LLP boosted its position in Veritone by 559.7% in the third quarter. GSA Capital Partners LLP now owns 108,614 shares of the company’s stock valued at $390,000 after buying an additional 92,150 shares during the last quarter. Finally, Private Management Group Inc. increased its holdings in Veritone by 18.6% in the 3rd quarter. Private Management Group Inc. now owns 2,891,845 shares of the company’s stock worth $10,382,000 after buying an additional 452,861 shares during the period. 39.18% of the stock is owned by institutional investors and hedge funds.

Veritone Trading Down 9.3 %

Shares of NASDAQ:VERI opened at $3.01 on Thursday. Veritone, Inc. has a 12-month low of $1.65 and a 12-month high of $7.76. The business has a 50 day moving average of $3.03 and a two-hundred day moving average of $3.19. The company has a market capitalization of $120.94 million, a PE ratio of -1.39 and a beta of 3.15.

Insider Activity at Veritone

In other Veritone news, Director Chad Steelberg sold 504,657 shares of the company’s stock in a transaction dated Friday, December 13th. The shares were sold at an average price of $2.52, for a total value of $1,271,735.64. Following the completion of the transaction, the director now owns 31,861 shares in the company, valued at approximately $80,289.72. This represents a 94.06 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Company insiders own 26.60% of the company’s stock.

Wall Street Analyst Weigh In

Several analysts have recently commented on the stock. 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. D. Boral Capital began coverage on shares of Veritone in a report on Monday, February 3rd. They issued a “buy” rating and a $4.50 price target on the 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.