Cvent Insider Unloads $112,000 in Stock (CVT)
Cvent (NYSE:CVT) Insider Dwayne J. Sye unloaded 4,000 shares of Cvent stock in a transaction that occurred on Wednesday, July 30th. The shares were sold at an average price of $28.00, for a total transaction of $112,000.00. Following the completion of the transaction, the insider now directly owns 312,071 shares of the company’s stock, valued at approximately $8,737,988. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link.
A number of research firms have recently commented on CVT. 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 investment analysts have rated the stock with a hold rating and three have assigned a buy rating to the stock. The company currently has a consensus rating of “Buy” and a consensus target price of $35.38.
Shares of Cvent (NYSE:CVT) traded down 3.74% during mid-day trading on Thursday, hitting $27.31. The stock had a trading volume of 333,224 shares. Cvent has a 1-year low of $22.42 and a 1-year high of $46.13. The stock has a 50-day moving average of $27.66 and a 200-day moving average of $32.10. The company’s market cap is $1.125 billion.
Cvent (NYSE:CVT) last released its 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. Analysts expect that Cvent will post $0.03 EPS for the current fiscal year.
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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