Royce & Associates LP Makes New $2.60 Million Investment in Veritone, Inc. $VERI

Royce & Associates LP acquired a new stake in Veritone, Inc. (NASDAQ:VERI) during the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund acquired 540,000 shares of the company’s stock, valued at approximately $2,603,000.

Several other hedge funds have also made changes to their positions in VERI. Vanguard Group Inc. grew its holdings in shares of Veritone by 63.1% during the third quarter. Vanguard Group Inc. now owns 2,754,165 shares of the company’s stock worth $13,275,000 after buying an additional 1,065,460 shares during the last quarter. Connective Capital Management LLC acquired a new stake in Veritone during the 2nd quarter worth approximately $657,000. Wesbanco Bank Inc. purchased a new position in shares of Veritone in the 3rd quarter valued at approximately $241,000. Finally, Geode Capital Management LLC grew its stake in shares of Veritone by 4.2% in the 2nd quarter. Geode Capital Management LLC now owns 480,842 shares of the company’s stock valued at $606,000 after purchasing an additional 19,597 shares during the last quarter. Institutional investors and hedge funds own 39.18% of the company’s stock.

Veritone Trading Up 3.8%

NASDAQ:VERI opened at $3.04 on Friday. Veritone, Inc. has a 1 year low of $1.22 and a 1 year high of $9.42. The company has a debt-to-equity ratio of 6.77, a quick ratio of 1.31 and a current ratio of 1.31. The stock has a fifty day moving average price of $3.79 and a two-hundred day moving average price of $4.45. The stock has a market capitalization of $279.10 million, a price-to-earnings ratio of -4.54 and a beta of 2.16.

Wall Street Analysts Forecast Growth

Several brokerages recently weighed in on VERI. D. Boral Capital reaffirmed a “buy” rating and set a $23.00 price target on shares of Veritone in a report on Tuesday. Needham & Company LLC restated a “buy” rating and set a $10.00 price objective on shares of Veritone in a research report on Tuesday, December 2nd. Finally, Weiss Ratings reaffirmed a “sell (e+)” rating on shares of Veritone in a report on Wednesday, January 21st. Four research analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average price target of $10.00.

Veritone Profile

Veritone, Inc (NASDAQ: VERI) is a technology company specializing in artificial intelligence solutions for media, legal, government and enterprise applications. Its flagship offering, aiWARE™, is a cloud-based operating system that orchestrates and automates an ecosystem of machine learning models to transform unstructured data—such as audio, video and text—into actionable intelligence. By providing a modular AI environment, Veritone enables organizations to deploy, manage and scale cognitive engines that address diverse use cases from transcription and translation to sentiment analysis and facial recognition.

Through aiWARE and its suite of purpose-built applications, the company delivers turnkey solutions for content licensing, media monitoring, eDiscovery, compliance and public safety.