Lazard Asset Management LLC Has $258,000 Stake in Veritone, Inc. (NASDAQ:VERI)

Lazard Asset Management LLC boosted its position in shares of Veritone, Inc. (NASDAQ:VERIGet Rating) by 440.6% in the fourth quarter, Holdings Channel reports. The fund owned 11,499 shares of the company’s stock after acquiring an additional 9,372 shares during the period. Lazard Asset Management LLC’s holdings in Veritone were worth $258,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors have also recently added to or reduced their stakes in the company. Benjamin F. Edwards & Company Inc. lifted its position in Veritone by 150.0% during the 4th quarter. Benjamin F. Edwards & Company Inc. now owns 2,500 shares of the company’s stock worth $56,000 after acquiring an additional 1,500 shares during the last quarter. Macquarie Group Ltd. acquired a new position in shares of Veritone during the third quarter valued at about $69,000. UBS Group AG raised its position in shares of Veritone by 50.5% during the third quarter. UBS Group AG now owns 4,277 shares of the company’s stock valued at $102,000 after buying an additional 1,436 shares during the last quarter. Advisor Group Holdings Inc. raised its position in shares of Veritone by 28.0% during the third quarter. Advisor Group Holdings Inc. now owns 4,576 shares of the company’s stock valued at $109,000 after buying an additional 1,000 shares during the last quarter. Finally, Zurcher Kantonalbank Zurich Cantonalbank raised its position in shares of Veritone by 103.1% during the fourth quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 4,660 shares of the company’s stock valued at $105,000 after buying an additional 2,366 shares during the last quarter. 49.82% of the stock is owned by hedge funds and other institutional investors.

NASDAQ:VERI opened at $8.99 on Friday. Veritone, Inc. has a 12-month low of $7.31 and a 12-month high of $37.14. The company has a quick ratio of 1.98, a current ratio of 1.98 and a debt-to-equity ratio of 2.42. The firm has a market capitalization of $324.20 million, a PE ratio of -4.54 and a beta of 3.17. The firm has a 50-day moving average price of $14.87 and a 200 day moving average price of $19.33.

Veritone (NASDAQ:VERIGet Rating) last issued its quarterly earnings data on Thursday, March 3rd. The company reported ($0.45) earnings per share for the quarter, missing the consensus estimate of ($0.03) by ($0.42). The firm had revenue of $55.15 million for the quarter, compared to the consensus estimate of $44.65 million. Veritone had a negative return on equity of 76.51% and a negative net margin of 52.10%. On average, research analysts expect that Veritone, Inc. will post -1.3 EPS for the current year.

A number of brokerages have recently commented on VERI. Northland Securities cut their price objective on shares of Veritone from $40.00 to $30.00 and set an “outperform” rating for the company in a research report on Friday, March 4th. Craig Hallum cut their price objective on shares of Veritone from $19.00 to $12.00 in a research report on Wednesday, May 4th. JMP Securities cut their price objective on shares of Veritone from $49.00 to $24.00 in a research report on Friday, April 29th. Bank of America started coverage on shares of Veritone in a research report on Wednesday, February 9th. They issued a “buy” rating and a $22.00 price target for the company. Finally, Zacks Investment Research raised shares of Veritone from a “sell” rating to a “hold” rating in a research report on Thursday, May 5th. Four research analysts have rated the stock with a hold rating and three have assigned a buy rating to the stock. Based on data from MarketBeat, the stock has an average rating of “Hold” and a consensus price target of $23.00.

In other news, Director G Louis Graziadio III acquired 9,000 shares of the firm’s stock in a transaction on Friday, March 11th. The shares were purchased at an average cost of $15.76 per share, with a total value of $141,840.00. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Insiders have acquired 11,500 shares of company stock worth $179,715 over the last ninety days. Insiders own 28.90% of the company’s stock.

About Veritone (Get Rating)

Veritone, Inc, together with its subsidiaries, provides artificial intelligence (AI) computing solutions in the United States and the United Kingdom. It develops and operates aiWARE platform, an AI operating system that uses machine learning algorithms or AI models, such as perception, prediction, and problem solving and optimization, as well as cognitive processes, including transcription, language translation, face detection and recognition, object detection and recognition, logo recognition, sentiment analysis, text keyword/topic analysis, audio/video fingerprinting, geolocation, visual moderation, and optical character recognition to reveal valuable insights from vast amounts of structured and unstructured data.

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Institutional Ownership by Quarter for Veritone (NASDAQ:VERI)

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