Veritone Inc (VERI) Insider Ryan Steelberg Purchases 30,376 Shares

Veritone Inc (NASDAQ:VERI) insider Ryan Steelberg acquired 30,376 shares of the company’s stock in a transaction that occurred on Friday, May 17th. The stock was acquired at an average price of $8.20 per share, with a total value of $249,083.20. Following the acquisition, the insider now directly owns 30,671 shares of the company’s stock, valued at approximately $251,502.20. The acquisition was disclosed in a document filed with the SEC, which is accessible through this hyperlink.

Shares of VERI stock opened at $9.56 on Thursday. Veritone Inc has a fifty-two week low of $3.65 and a fifty-two week high of $24.76.

Veritone (NASDAQ:VERI) last announced its quarterly earnings data on Wednesday, May 8th. The company reported ($0.48) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.89) by $0.41. The firm had revenue of $12.13 million during the quarter, compared to analysts’ expectations of $11.58 million. Veritone had a negative net margin of 185.03% and a negative return on equity of 86.72%. The business’s quarterly revenue was up 176.3% compared to the same quarter last year. During the same quarter in the previous year, the business posted ($0.81) earnings per share. On average, sell-side analysts expect that Veritone Inc will post -3.27 EPS for the current fiscal year.

Several hedge funds have recently made changes to their positions in the stock. Charles Schwab Investment Management Inc. grew its holdings in shares of Veritone by 49.4% in the first quarter. Charles Schwab Investment Management Inc. now owns 22,863 shares of the company’s stock valued at $119,000 after purchasing an additional 7,563 shares in the last quarter. Renaissance Technologies LLC acquired a new position in Veritone during the 1st quarter worth approximately $910,000. Northern Trust Corp grew its holdings in Veritone by 2.6% during the 1st quarter. Northern Trust Corp now owns 98,095 shares of the company’s stock worth $510,000 after acquiring an additional 2,511 shares in the last quarter. Citigroup Inc. grew its holdings in Veritone by 3,841.2% during the 1st quarter. Citigroup Inc. now owns 88,008 shares of the company’s stock worth $458,000 after acquiring an additional 85,775 shares in the last quarter. Finally, MML Investors Services LLC acquired a new position in Veritone during the 1st quarter worth approximately $291,000. Hedge funds and other institutional investors own 21.38% of the company’s stock.

A number of research analysts recently weighed in on the stock. Zacks Investment Research cut shares of Veritone from a “hold” rating to a “sell” rating in a report on Thursday, May 9th. Northland Securities restated a “buy” rating and issued a $20.00 price objective on shares of Veritone in a report on Thursday, May 9th. Finally, JMP Securities assumed coverage on shares of Veritone in a report on Wednesday, April 3rd. They issued an “outperform” rating and a $10.00 price objective for the company. Two equities research analysts have rated the stock with a sell rating, one has given a hold rating and five have assigned a buy rating to the stock. The stock presently has a consensus rating of “Hold” and a consensus price target of $12.75.

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About Veritone

Veritone, Inc provides artificial intelligence (AI) and computing solutions in the United States and the United Kingdom. It develops and operates aiWARE platform, an AI operating system that unlocks the power of cognitive computing to transform audio, video, and other unstructured data, as well as analyzes it in conjunction with structured data in an orchestrated and automated manner to generate actionable intelligence.

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