Geode Capital Management LLC Trims Stock Holdings in Veritone, Inc. (NASDAQ:VERI)

Geode Capital Management LLC lowered its holdings in shares of Veritone, Inc. (NASDAQ:VERI) by 1.7% in the third quarter, Holdings Channel.com reports. The fund owned 363,659 shares of the company’s stock after selling 6,166 shares during the quarter. Geode Capital Management LLC’s holdings in Veritone were worth $1,306,000 at the end of the most recent quarter.

Several other hedge funds also recently bought and sold shares of VERI. Private Management Group Inc. lifted its position in shares of Veritone by 18.6% during the third quarter. Private Management Group Inc. now owns 2,891,845 shares of the company’s stock worth $10,382,000 after purchasing an additional 452,861 shares during the last quarter. Renaissance Technologies LLC purchased a new position in Veritone in the 2nd quarter worth about $811,000. GSA Capital Partners LLP lifted its holdings in Veritone by 559.7% during the 3rd quarter. GSA Capital Partners LLP now owns 108,614 shares of the company’s stock valued at $390,000 after buying an additional 92,150 shares in the last quarter. Cubist Systematic Strategies LLC purchased a new stake in Veritone in the 2nd quarter valued at about $203,000. Finally, Vanguard Capital Wealth Advisors boosted its position in Veritone by 136.1% in the 3rd quarter. Vanguard Capital Wealth Advisors now owns 70,600 shares of the company’s stock valued at $253,000 after buying an additional 40,700 shares during the period. Institutional investors own 39.18% of the company’s stock.

Analyst Upgrades and Downgrades

Separately, UBS Group raised shares of 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.

Veritone Price Performance

VERI opened at $2.93 on Friday. The company has a market capitalization of $117.73 million, a price-to-earnings ratio of -1.36 and a beta of 3.17. The company has a current ratio of 0.66, a quick ratio of 0.66 and a debt-to-equity ratio of 9.02. Veritone, Inc. has a 12-month low of $1.48 and a 12-month high of $7.76. The business’s fifty day simple moving average is $2.91 and its 200-day simple moving average is $3.11.

Insider Buying and Selling

In other news, Director Chad Steelberg sold 504,657 shares of the business’s stock in a transaction dated Friday, December 13th. The shares were sold at an average price of $2.52, for a total value of $1,271,735.64. Following the completion of the sale, the director now owns 31,861 shares in the company, valued at approximately $80,289.72. The trade was a 94.06 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. 26.60% of the stock is owned by insiders.

Veritone 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.