Bfsg LLC Trims Stake in Veritone, Inc. (NASDAQ:VERI)

Bfsg LLC trimmed its position in Veritone, Inc. (NASDAQ:VERI) by 26.5% in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm 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 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Private Management Group Inc. lifted its stake in Veritone by 18.6% in 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 during the period. GSA Capital Partners LLP lifted its position in shares of Veritone by 559.7% in the 3rd quarter. GSA Capital Partners LLP now owns 108,614 shares of the company’s stock worth $390,000 after purchasing an additional 92,150 shares during the period. Vanguard Capital Wealth Advisors lifted its position in shares of Veritone by 136.1% in the 3rd quarter. Vanguard Capital Wealth Advisors now owns 70,600 shares of the company’s stock worth $253,000 after purchasing an additional 40,700 shares during the period. XTX Topco Ltd bought a new position in shares of Veritone during the third quarter valued at approximately $132,000. Finally, Benjamin Edwards Inc. purchased a new position in Veritone during the third quarter valued at approximately $65,000. Institutional investors own 39.18% of the company’s stock.

Insider Activity

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

Veritone Stock Down 9.3 %

NASDAQ:VERI opened at $3.01 on Thursday. The stock has a market capitalization of $120.94 million, a price-to-earnings ratio of -1.39 and a beta of 3.15. Veritone, Inc. has a 52 week low of $1.65 and a 52 week high of $7.76. The firm has a 50 day moving average of $3.03 and a 200 day moving average of $3.19.

Wall Street Analyst Weigh In

Several analysts have issued reports on VERI shares. UBS Group raised Veritone from a “sell” rating to a “neutral” rating and set a $3.50 target price on the stock in a research report on Wednesday, October 30th. D. Boral Capital assumed coverage on Veritone in a research report on Monday, February 3rd. They set a “buy” rating and a $4.50 price objective 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.