Jane Street Group LLC acquired a new stake in shares of Veritone Inc (NASDAQ:VERI) during the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor acquired 24,367 shares of the company’s stock, valued at approximately $1,107,000. Jane Street Group LLC owned about 0.16% of Veritone as of its most recent SEC filing.
Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. SG Americas Securities LLC purchased a new stake in Veritone during the third quarter valued at about $132,000. Schwab Charles Investment Management Inc. purchased a new stake in Veritone during the third quarter valued at about $205,000. Quantbot Technologies LP purchased a new stake in Veritone during the third quarter valued at about $263,000. First Republic Investment Management Inc. purchased a new stake in Veritone during the third quarter valued at about $272,000. Finally, Wells Fargo & Company MN purchased a new stake in Veritone during the third quarter valued at about $489,000. 5.72% of the stock is currently owned by institutional investors and hedge funds.
Several equities research analysts have commented on the stock. Zacks Investment Research downgraded shares of Veritone from a “hold” rating to a “sell” rating in a report on Friday, September 8th. Northland Securities set a $23.00 price target on Veritone and gave the company a “buy” rating in a research report on Sunday, September 10th. B. Riley cut Veritone from a “buy” rating to a “sell” rating and decreased their price target for the company from $18.00 to $15.00 in a research report on Tuesday, November 7th. Roth Capital reiterated a “buy” rating and set a $62.00 price target (up from $13.20) on shares of Veritone in a research report on Friday, September 29th. Finally, Craig Hallum set a $31.00 price target on Veritone and gave the company a “buy” rating in a research report on Wednesday, November 22nd. One equities research analyst has rated the stock with a sell rating, one has assigned a hold rating and four have given a buy rating to the company. The company currently has an average rating of “Buy” and an average price target of $26.50.
Shares of Veritone Inc (NASDAQ:VERI) opened at $23.32 on Wednesday. Veritone Inc has a 52-week low of $7.76 and a 52-week high of $74.92.
Veritone (NASDAQ:VERI) last announced its quarterly earnings results on Monday, November 6th. The company reported ($1.31) earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.43) by ($0.88). Veritone had a negative net margin of 520.81% and a negative return on equity of 150.36%. The company had revenue of $3.72 million for the quarter, compared to the consensus estimate of $4.95 million. During the same quarter in the prior year, the company earned ($3.49) earnings per share. The company’s quarterly revenue was up 60.3% on a year-over-year basis. equities research analysts forecast that Veritone Inc will post -5.64 EPS for the current year.
Veritone, Inc is a developer of artificial intelligence (AI) platform. The Company’s platform unlocks the power of cognitive computing to transform unstructured audio and video data and analyze it in conjunction with structured data in a seamless, automated manner to generate actionable intelligence.
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