Northern Trust Corp raised its stake in shares of Veritone Inc (NASDAQ:VERI) by 26.3% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 123,846 shares of the company’s stock after purchasing an additional 25,751 shares during the quarter. Northern Trust Corp owned about 0.61% of Veritone worth $1,036,000 at the end of the most recent reporting period.
Separately, Granite Investment Partners LLC acquired a new position in Veritone during the 2nd quarter valued at approximately $507,000. 18.00% of the stock is currently owned by hedge funds and other institutional investors.
Shares of NASDAQ:VERI traded up $0.01 during midday trading on Friday, reaching $2.67. The company’s stock had a trading volume of 239,000 shares, compared to its average volume of 556,325. The firm has a market capitalization of $59.11 million, a PE ratio of -0.77 and a beta of 1.37. Veritone Inc has a twelve month low of $2.43 and a twelve month high of $9.98. The stock has a fifty day moving average of $3.17 and a 200 day moving average of $5.90.
Veritone (NASDAQ:VERI) last posted its earnings results on Wednesday, November 6th. The company reported ($0.43) earnings per share for the quarter, beating the consensus estimate of ($0.78) by $0.35. The company had revenue of $12.81 million for the quarter, compared to analyst estimates of $12.75 million. Veritone had a negative net margin of 155.58% and a negative return on equity of 96.89%. Veritone’s revenue was up 69.7% on a year-over-year basis. During the same period in the previous year, the business posted ($0.46) EPS. Equities analysts predict that Veritone Inc will post -3.16 EPS for the current year.
VERI has been the topic of a number of recent analyst reports. Craig Hallum lowered shares of Veritone from a “buy” rating to a “hold” rating and cut their price target for the company from $14.00 to $3.00 in a research note on Thursday. Northland Securities reiterated a “buy” rating and issued a $10.00 price objective on shares of Veritone in a research note on Thursday. ValuEngine upgraded shares of Veritone from a “buy” rating to a “strong-buy” rating in a research note on Thursday, August 1st. JMP Securities cut their price objective on shares of Veritone to $7.00 and set an “outperform” rating on the stock in a research note on Friday. Finally, Zacks Investment Research lowered shares of Veritone from a “buy” rating to a “hold” rating in a research note on Saturday, October 12th. Three research analysts have rated the stock with a hold rating, four have assigned a buy rating and one has issued a strong buy rating to the company’s stock. The company has an average rating of “Buy” and a consensus target price of $8.82.
Veritone, Inc provides artificial intelligence (AI) and computing solutions in the United States and the United Kingdom. It develops and operates aiWARE platform, an AI operating system that unlocks the power of cognitive computing to transform audio, video, and other unstructured data, as well as analyzes it in conjunction with structured data in an orchestrated and automated manner to generate actionable intelligence.
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