Investors Purchase Large Volume of Veritone Call Options (NASDAQ:VERI)

Veritone, Inc. (NASDAQ:VERI) was the target of some unusual options trading on Thursday. Stock investors purchased 11,012 call options on the stock. This represents an increase of 1,191% compared to the typical volume of 853 call options.

Analyst Ratings Changes

Separately, UBS Group raised Veritone from a “sell” rating to a “neutral” rating and set a $3.50 price target on the stock in a research note on Wednesday, October 30th.

Veritone Trading Up 5.1 %

NASDAQ:VERI opened at $3.53 on Friday. The company has a market cap of $135.24 million, a P/E ratio of -1.63 and a beta of 3.21. Veritone has a twelve month low of $1.48 and a twelve month high of $7.76. The business has a 50 day moving average price of $2.98 and a two-hundred day moving average price of $3.06. The company has a quick ratio of 0.66, a current ratio of 0.66 and a debt-to-equity ratio of 9.02.

Insider Activity at Veritone

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

Institutional Trading of Veritone

A number of institutional investors have recently made changes to their positions in VERI. Private Management Group Inc. grew its position in Veritone by 18.6% in the third quarter. Private Management Group Inc. now owns 2,891,845 shares of the company’s stock valued at $10,382,000 after purchasing an additional 452,861 shares in the last quarter. Renaissance Technologies LLC acquired a new position in shares of Veritone during the 2nd quarter worth about $811,000. GSA Capital Partners LLP grew its holdings 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 valued at $390,000 after acquiring an additional 92,150 shares in the last quarter. Cubist Systematic Strategies LLC acquired a new stake in shares of Veritone in the second quarter valued at about $203,000. Finally, Vanguard Capital Wealth Advisors raised its holdings in Veritone by 136.1% during the third quarter. Vanguard Capital Wealth Advisors now owns 70,600 shares of the company’s stock worth $253,000 after acquiring an additional 40,700 shares in the last quarter. Institutional investors own 39.18% of the company’s stock.

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.