On December 31, 2024, BANTA ASSET MANAGEMENT LP (Trades, Portfolio) made a significant move by acquiring an additional 225,633 shares of Veritone Inc (VERI, Financial). This transaction was executed at a price of $3.28 per share, bringing the firm's total holdings in Veritone to 3,424,243 shares. This strategic addition now represents 8.52% of the firm's portfolio, highlighting the firm's confidence in Veritone's potential despite the current market challenges.
Profile of BANTA ASSET MANAGEMENT LP (Trades, Portfolio)
BANTA ASSET MANAGEMENT LP (Trades, Portfolio) is based in Newport Beach, California, at 517 30th Street. While the firm's specific investment philosophy is not detailed, its portfolio consists of 17 stocks, with top holdings in Vanguard S&P 500 ETF (VOO, Financial), Apple Inc (AAPL, Financial), INVESCO QQQ Trust (QQQ, Financial), Veritone Inc (VERI, Financial), and Invesco BulletShares 2026 High Yield Corporate Bond (BSJQ, Financial). The firm's total equity amounts to $84 million, with a strong focus on the Technology and Consumer Cyclical sectors.
Details of the Veritone Inc Transaction
The recent acquisition of Veritone Inc shares by BANTA ASSET MANAGEMENT LP (Trades, Portfolio) involved the addition of 225,633 shares at a trade price of $3.28 per share. This transaction increased the firm's total holdings in Veritone to 3,424,243 shares, which now constitute 8.52% of the firm's portfolio. This move indicates a strategic decision to bolster its position in Veritone, reflecting a calculated risk in the firm's investment strategy.
About Veritone Inc
Veritone Inc is a provider of artificial intelligence (AI) computing solutions and services, operating across the USA, UK, France, Australia, Israel, and India. The company generates revenue through its Software Products & Services, Managed Services, and Licensing segments. With a market capitalization of $132.891 million, Veritone is positioned in the software industry, offering innovative AI solutions to a diverse clientele.
Financial Metrics and Valuation
As of the latest data, Veritone Inc's stock is priced at $2.98, slightly below its GF Valuation of $3.20, indicating it is fairly valued with a Price to GF Value ratio of 0.93. The stock has experienced a year-to-date price change of -6.88% and a significant decline of -80.95% since its IPO. The company's GF Score stands at 58/100, suggesting poor future performance potential.
Performance and Growth Indicators
Veritone's financial health is reflected in its Balance Sheet Rank of 1/10 and Profitability Rank of 3/10. The company's Growth Rank is also 3/10, with a 3-year revenue growth of 18.20% and EBITDA growth of 17.00%. However, earnings have declined by 10.40% over the same period, indicating challenges in achieving profitability.
Risk and Momentum Analysis
Veritone's Z Score of -2.15 suggests potential financial distress, while its cash to debt ratio is a low 0.08. The stock's momentum is neutral, with a 14-day RSI of 61.99 and a Momentum Index (6 - 1 Month) of 2.33, indicating moderate investor interest.
Conclusion
BANTA ASSET MANAGEMENT LP (Trades, Portfolio)'s strategic addition of Veritone Inc shares underscores a calculated approach to investing in AI-driven solutions. While Veritone faces financial challenges, the firm's decision to increase its stake suggests a belief in the company's long-term potential. For value investors, this transaction highlights the importance of considering both the firm's investment strategy and Veritone's current valuation and performance metrics when making investment decisions.
This article, generated by GuruFocus, is designed to provide general insights and is not tailored financial advice. Our commentary is rooted in historical data and analyst projections, utilizing an impartial methodology, and is not intended to serve as specific investment guidance. It does not formulate a recommendation to purchase or divest any stock and does not consider individual investment objectives or financial circumstances. Our objective is to deliver long-term, fundamental data-driven analysis. Be aware that our analysis might not incorporate the most recent, price-sensitive company announcements or qualitative information. GuruFocus holds no position in the stocks mentioned herein.
