Veritone, Inc. (NASDAQ:VERI) Shares Purchased by Private Management Group Inc.

Private Management Group Inc. boosted its position in Veritone, Inc. (NASDAQ:VERI) by 7.3% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 2,126,535 shares of the company’s stock after buying an additional 144,613 shares during the quarter. Private Management Group Inc. owned 5.73% of Veritone worth $3,849,000 at the end of the most recent quarter.

Other institutional investors have also recently added to or reduced their stakes in the company. Kestra Advisory Services LLC acquired a new position in Veritone in the 3rd quarter worth $27,000. L2 Asset Management LLC bought a new stake in shares of Veritone in the 3rd quarter worth about $31,000. Skandinaviska Enskilda Banken AB publ increased its position in shares of Veritone by 48.4% in the 3rd quarter. Skandinaviska Enskilda Banken AB publ now owns 27,534 shares of the company’s stock worth $71,000 after purchasing an additional 8,986 shares during the last quarter. Bank of New York Mellon Corp grew its position in shares of Veritone by 7.8% during the 3rd quarter. Bank of New York Mellon Corp now owns 228,265 shares of the company’s stock valued at $589,000 after buying an additional 16,496 shares during the last quarter. Finally, Vontobel Holding Ltd. grew its position in shares of Veritone by 32.2% during the 4th quarter. Vontobel Holding Ltd. now owns 439,130 shares of the company’s stock valued at $795,000 after buying an additional 106,890 shares during the last quarter. Institutional investors and hedge funds own 39.18% of the company’s stock.

Veritone Price Performance

Shares of NASDAQ:VERI traded down $0.27 during trading on Wednesday, reaching $3.56. The company had a trading volume of 986,475 shares, compared to its average volume of 2,162,685. Veritone, Inc. has a twelve month low of $1.48 and a twelve month high of $7.76. The firm has a market capitalization of $132.18 million, a PE ratio of -1.68 and a beta of 2.97. The firm’s fifty day moving average is $3.69 and its 200 day moving average is $2.63. The company has a debt-to-equity ratio of 3.53, a quick ratio of 0.97 and a current ratio of 0.97.

Veritone (NASDAQ:VERI) last released its earnings results on Tuesday, March 12th. The company reported ($0.20) EPS for the quarter, beating the consensus estimate of ($0.25) by $0.05. Veritone had a negative net margin of 42.97% and a negative return on equity of 120.37%. The business had revenue of $34.20 million during the quarter, compared to analyst estimates of $33.67 million. On average, equities analysts forecast that Veritone, Inc. will post -0.58 EPS for the current year.

Analyst Ratings Changes

Several research firms have commented on VERI. Roth Capital upgraded shares of Veritone from a “sell” rating to a “neutral” rating in a research report on Thursday, February 1st. Roth Mkm upped their price target on shares of Veritone from $1.85 to $2.25 and gave the stock a “neutral” rating in a research note on Thursday, March 14th.

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.