State Street Corp Lowers Position in Veritone, Inc. (NASDAQ:VERI)

State Street Corp decreased its stake in Veritone, Inc. (NASDAQ:VERI) by 15.2% in the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 144,548 shares of the company’s stock after selling 25,834 shares during the quarter. State Street Corp’s holdings in Veritone were worth $519,000 as of its most recent SEC filing.

Several other institutional investors have also recently made changes to their positions in the stock. Private Management Group Inc. increased its holdings in Veritone by 30.7% in the 2nd quarter. Private Management Group Inc. now owns 2,438,984 shares of the company’s stock worth $5,512,000 after acquiring an additional 572,422 shares in the last quarter. Renaissance Technologies LLC bought a new position in shares of Veritone in the second quarter worth approximately $811,000. GSA Capital Partners LLP increased its stake in shares of Veritone by 559.7% in the third 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 in the last quarter. Cubist Systematic Strategies LLC bought a new stake in shares of Veritone during the 2nd quarter valued at $203,000. Finally, Point72 Asia Singapore Pte. Ltd. purchased a new position in shares of Veritone during the 2nd quarter valued at $113,000. Institutional investors own 39.18% of the company’s stock.

Veritone Trading Up 10.3 %

Shares of VERI opened at $3.53 on Friday. The firm has a market cap of $135.24 million, a P/E ratio of -1.63 and a beta of 3.22. The company has a debt-to-equity ratio of 9.02, a current ratio of 0.66 and a quick ratio of 0.66. Veritone, Inc. has a 1 year low of $1.48 and a 1 year high of $7.76. The company has a 50 day simple moving average of $2.93 and a two-hundred day simple moving average of $3.09.

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 report on Wednesday, October 30th.

Insider Buying and Selling at Veritone

In other news, Director Chad Steelberg sold 504,657 shares of the stock in a transaction that occurred on 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 completion of the transaction, the director now directly owns 31,861 shares in the company, valued at approximately $80,289.72. This represents a 94.06 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 26.60% of the stock is currently owned by insiders.

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.