Insider Selling: David C. Quattrone Sells 3,000 Shares of Cvent Stock (CVT)
Cvent (NYSE:CVT) CTO David C. Quattrone sold 3,000 shares of the company’s stock on the open market in a transaction that occurred on Monday, July 21st. The stock was sold at an average price of $25.08, for a total value of $75,240.00. Following the sale, the chief technology officer now directly owns 679,357 shares in the company, valued at approximately $17,038,274. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link.
Cvent (NYSE:CVT) traded up 2.07% on Tuesday, hitting $25.64. 112,745 shares of the company’s stock traded hands. Cvent has a one year low of $22.42 and a one year high of $46.13. The stock has a 50-day moving average of $27.20 and a 200-day moving average of $32.53. The company’s market cap is $1.056 billion.
Cvent (NYSE:CVT) last issued its quarterly earnings data on Wednesday, May 14th. The company reported $0.06 earnings per share for the quarter, beating the analysts’ consensus estimate of ($0.01) by $0.07. The company had revenue of $31.40 million for the quarter, compared to the consensus estimate of $30.89 million. Cvent’s revenue was up 28.7% compared to the same quarter last year. On average, analysts predict that Cvent will post $0.03 earnings per share for the current fiscal year.
A number of analysts have recently weighed in on CVT shares. Analysts at Zacks downgraded shares of Cvent from an “outperform” rating to a “neutral” rating in a research note on Thursday, July 17th. They now have a $31.90 price target on the stock. Finally, analysts at Goldman Sachs cut their price target on shares of Cvent from $43.00 to $37.00 in a research note on Thursday, May 15th. Two research analysts have rated the stock with a hold rating and three have given a buy rating to the company. The company currently has an average rating of “Buy” and a consensus price target of $35.38.
Cvent, Inc is a cloud-based enterprise event management platform. The Company offers an integrated cloud-based software platform that addresses the lifecycle of events and meetings.
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