Insider Selling: Cvent major shareholder Sells 400,000 Shares of Stock (CVT)
Cvent (NYSE:CVT) major shareholder Insight Venture Partners Vii, sold 400,000 shares of Cvent stock on the open market in a transaction that occurred on Thursday, August 14th. The stock was sold at an average price of $26.33, for a total transaction of $10,532,000.00. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Large shareholders that own at least 10% of a company’s stock are required to disclose their sales and purchases with the SEC.
Separately, 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. Two research analysts have rated the stock with a hold rating and three have assigned a buy rating to the company’s stock. Cvent presently has an average rating of “Buy” and a consensus target price of $35.38.
Cvent (NYSE:CVT) opened at 26.33 on Wednesday. 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 $26.71 and a 200-day moving average of $31.09. The company has a market cap of $1.113 billion and a P/E ratio of 774.41.
Cvent (NYSE:CVT) last announced its earnings results on Thursday, August 7th. The company reported $0.06 earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.01) by $0.07. The company had revenue of $34.13 million for the quarter, compared to the consensus estimate of $33.51 million. During the same quarter in the previous year, the company posted $0.04 earnings per share. The company’s revenue for the quarter was up 26.7% on a year-over-year basis. On average, analysts predict that Cvent will post $0.05 earnings per share 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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