Checking in on Veritone Inc. (VERI) after recent insiders movement


In a filing, Veritone Inc. revealed its President Steelberg Ryan acquired Company’s shares for reported $0.11 million on Sep 15. In the deal valued at $6.98 per share,15,420 shares were bought. As a result of this transaction, Steelberg Ryan now holds 165,422 shares worth roughly $ 1.17 million.

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Then, Steelberg Ryan bought 21,288 shares, generating $146,461 in total proceeds. Upon buying the shares at $6.88, the President now owns 150,002 shares.

Before that, Steelberg Ryan bought 35,367 shares. Veritone Inc. shares valued at $241,203 were divested by the President at a price of $6.82 per share. As a result of the transaction, Steelberg Ryan now holds 128,714 shares, worth roughly $0.91 million.

BofA Securities downgraded its Veritone Inc. [VERI] rating to a Neutral from a a Buy in a research note published on Tuesday, July 13, 2022; the price target was decreased to $10 from $14. PT values the company’s stock at a premium of 29.1 to its Tuesday closing price. A number of analysts have revised their coverage, including UBS’s analysts, who began to cover the stock in mid April with a ‘”a Neutral”‘ rating. BofA Securities began covering VERI with “Buy” recommendation on February 09, 2022. Stifel started covering the stock on December 21, 2020. It rated VERI as “a Hold”.

Price Performance Review of VERI

On Tuesday, Veritone Inc. [NASDAQ:VERI] saw its stock jump 2.46% to $7.09. On the same session, the stock had its day’s lowest price of $6.9501, but rose to a high of $7.32. Over the last five days, the stock has lost -8.04%. Veritone Inc. shares have risen nearly 33.77% since the year began. Nevertheless, the stocks have fallen -57.72% over the past one year. While a 52-week high of $20.25 was reached on 02/06/23, a 52-week low of $4.57 was recorded on 01/06/23. SMA at 50 days reached $7.18, while 200 days put it at $6.97. A total of 0.74 million shares were traded, compared to the trading of 0.47 million shares in the previous session.

Levels Of Support And Resistance For VERI Stock

The 24-hour chart illustrates a support level at 6.92, which if violated will result in even more drops to 6.75. On the upside, there is a resistance level at 7.29. A further resistance level may holdings at 7.49. The Relative Strength Index (RSI) on the 14-day chart is 42.59, which indicates neutral technical sentiment, while the Moving Average Convergence Divergence (MACD) stands at -1.27, which suggests price will go down in the next trading period. Percent R suggests that price movement has been bearish at 93.80%. Stochastics %K at 3.87% indicates the stock is a buying.

How much short interest is there in Veritone Inc.?

A steep rise in short interest was recorded in Veritone Inc. stocks on Jan 12, 2023, growing by 60000.0 shares to a total of 3.95 million shares. Yahoo Finance data shows the prior-month short interest on Dec 14, 2022 was 3.89 million shares. There was a rise of 1.52%, which implies that there is a positive sentiment for the stock. In spite of short shares comprising just 12.59% of the overall stock float, the days-to-cover ratio (short ratio) rose to 9.27.

Veritone Inc. [VERI] – Who Are The Largest Shareholders?

In filings from Banta Asset Management LP, it is revealed that the company now owns 2,280,794 shares, or roughly 6.29% of the outstanding VERI shares. In other words, the investor’s shares have fallen by -84,900 from its previous 13-F filing of 2365694.0. Additionally, The Vanguard Group, Inc. decreased -0.81% of its stake after which the total value it holdings stand at $19,132,017, while BlackRock Fund Advisors reduced -2.70% of its stake to hold $15.65 million in the firm. Over the last quarter, Private Management Group, Inc. purchased 293,625 shares of Veritone Inc., while SSgA Funds Management, Inc. bought 68,274 shares. At present, Handelsbanken Fonder AB is holding 822,653 shares valued at $6.95 million. Geode Capital Management LLC owned 577,284 shares of the company at the time of its most recent 13F filing, worth $4.88 million.

However, 6 analysts have rated VERI stock as an Overweight in their predictions for 2023.


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