Mirae Asset Global Investments Co. Ltd. acquired a new position in shares of Veritone Inc (NASDAQ:VERI) in the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm acquired 410,777 shares of the company’s stock, valued at approximately $4,285,000. Mirae Asset Global Investments Co. Ltd. owned about 2.24% of Veritone as of its most recent filing with the Securities and Exchange Commission (SEC).
A number of other hedge funds and other institutional investors also recently bought and sold shares of VERI. Schwab Charles Investment Management Inc. purchased a new stake in Veritone during the second quarter worth about $194,000. GSA Capital Partners LLP purchased a new stake in Veritone during the third quarter worth about $266,000. UBS Group AG increased its holdings in Veritone by 494.2% during the first quarter. UBS Group AG now owns 19,212 shares of the company’s stock worth $267,000 after buying an additional 15,979 shares during the last quarter. First Trust Advisors LP purchased a new stake in Veritone during the third quarter worth about $268,000. Finally, Jane Street Group LLC purchased a new stake in Veritone during the second quarter worth about $298,000. Institutional investors and hedge funds own 17.48% of the company’s stock.
A number of analysts recently issued reports on the stock. B. Riley decreased their price objective on shares of Veritone and set a “sell” rating for the company in a report on Tuesday, August 14th. Roth Capital decreased their price objective on shares of Veritone from $27.00 to $20.00 and set a “buy” rating for the company in a report on Tuesday, August 14th. Zacks Investment Research upgraded shares of Veritone from a “hold” rating to a “buy” rating and set a $9.25 price objective for the company in a report on Wednesday, October 17th. DA Davidson decreased their price objective on shares of Veritone to $12.00 and set a “buy” rating for the company in a report on Tuesday, November 13th. Finally, Craig Hallum decreased their price objective on shares of Veritone from $22.00 to $14.00 and set a “buy” rating for the company in a report on Wednesday, November 14th. One investment analyst has rated the stock with a sell rating, two have issued a hold rating and four have issued a buy rating to the company’s stock. The company currently has a consensus rating of “Hold” and an average target price of $14.88.
VERI opened at $5.63 on Friday. The stock has a market capitalization of $102.83 million, a PE ratio of -1.23 and a beta of 1.11. Veritone Inc has a twelve month low of $4.95 and a twelve month high of $27.95.
Veritone (NASDAQ:VERI) last posted its earnings results on Monday, November 12th. The company reported ($0.86) earnings per share for the quarter, missing the consensus estimate of ($0.78) by ($0.08). The business had revenue of $7.55 million during the quarter, compared to analysts’ expectations of $6.03 million. Veritone had a negative return on equity of 86.60% and a negative net margin of 286.28%. Veritone’s revenue for the quarter was up 102.9% on a year-over-year basis. During the same quarter in the previous year, the business earned ($1.31) EPS. As a group, equities research analysts expect that Veritone Inc will post -3.27 EPS for the current fiscal year.
In other Veritone news, Director G Louis Graziadio III bought 9,000 shares of Veritone stock in a transaction dated Friday, September 14th. The stock was purchased at an average price of $10.37 per share, for a total transaction of $93,330.00. Following the completion of the purchase, the director now directly owns 98,308 shares of the company’s stock, valued at $1,019,453.96. The acquisition was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, major shareholder Research Corp Acacia sold 1,500,000 shares of Veritone stock in a transaction dated Thursday, November 29th. The stock was sold at an average price of $5.01, for a total transaction of $7,515,000.00. Following the completion of the transaction, the insider now owns 1,619,520 shares of the company’s stock, valued at approximately $8,113,795.20. The disclosure for this sale can be found here. 37.00% of the stock is owned by company insiders.
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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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