Stock Traders Purchase Large Volume of Call Options on Veritone (NASDAQ:VERI)

Veritone, Inc. (NASDAQ:VERI) saw unusually large options trading activity on Thursday. Investors purchased 11,012 call options on the company. This represents an increase of 1,191% compared to the average volume of 853 call options.

Insider Transactions at Veritone

In related news, Director Chad Steelberg sold 504,657 shares of Veritone stock in a transaction dated Friday, December 13th. The stock was 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 directly owns 31,861 shares in the company, valued at $80,289.72. This trade represents a 94.06 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. 26.60% of the stock is owned by company insiders.

Hedge Funds Weigh In On Veritone

Several institutional investors have recently modified their holdings of the stock. Private Management Group Inc. grew its holdings in Veritone by 30.7% during the second quarter. Private Management Group Inc. now owns 2,438,984 shares of the company’s stock valued at $5,512,000 after purchasing an additional 572,422 shares during the period. Renaissance Technologies LLC bought a new position in shares of Veritone during the second quarter worth $811,000. GSA Capital Partners LLP grew its holdings in shares of Veritone by 559.7% in 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 during the period. Cubist Systematic Strategies LLC acquired a new position in shares of Veritone in the 2nd quarter valued at $203,000. Finally, Point72 Asia Singapore Pte. Ltd. bought a new stake in shares of Veritone in the 2nd quarter valued at $113,000. 39.18% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Separately, UBS Group raised shares of Veritone from a “sell” rating to a “neutral” rating and set a $3.50 price target for the company in a research note on Wednesday, October 30th.

Veritone Stock Up 5.1 %

NASDAQ:VERI opened at $3.53 on Friday. The stock’s fifty day simple moving average is $2.98 and its 200-day simple moving average is $3.06. The firm has a market capitalization of $135.24 million, a P/E ratio of -1.63 and a beta of 3.21. The company has a quick ratio of 0.66, a current ratio of 0.66 and a debt-to-equity ratio of 9.02. Veritone has a 12-month low of $1.48 and a 12-month high of $7.76.

Veritone Company 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.