Marketo Major Shareholder Sells $70,815,956 in Stock (MKTO)
Marketo (NASDAQ:MKTO) major shareholder Interwest Management Partners sold 2,083,435 shares of the company’s stock on the open market in a transaction dated Wednesday, September 18th. The shares were sold at an average price of $33.99, for a total value of $70,815,955.65. The sale was disclosed in a document filed with the SEC, which can be accessed through this link. Major shareholders that own at least 10% of a company’s stock are required to disclose their transactions with the SEC.
Several analysts have recently commented on the stock. Analysts at Raymond James raised their price target on shares of Marketo (NASDAQ:MKTO) from $26.00 to $30.00 in a research note to investors on Thursday, August 1st. They now have an “outperform” rating on the stock. Separately, analysts at JMP Securities raised their price target on shares of Marketo (NASDAQ:MKTO) from $27.00 to $31.00 in a research note to investors on Thursday, August 1st. Finally, analysts at UBS AG raised their price target on shares of Marketo (NASDAQ:MKTO) from $22.00 to $24.00 in a research note to investors on Wednesday, July 31st. They now have a “sell” rating on the stock.
One equities research analyst has rated the stock with a sell rating, one has issued a hold rating and three have assigned a buy rating to the stock. Marketo currently has an average rating of “Hold” and an average target price of $27.00.
Marketo (NASDAQ:MKTO) traded down 0.12% during mid-day trading on Wednesday, hitting $35.158. 184,883 shares of the company’s stock traded hands. Marketo has a 52 week low of $17.20 and a 52 week high of $39.80. The stock’s 50-day moving average is $35.49 and its 200-day moving average is $28.36. The company’s market cap is $1.302 billion.
Marketo (NASDAQ:MKTO) last announced its earnings results on Tuesday, July 30th. The company reported ($0.49) earnings per share for the quarter, missing the analysts’ consensus estimate of ($0.43) by $0.06. The company had revenue of $22.50 million for the quarter, compared to the consensus estimate of $20.12 million. During the same quarter in the previous year, the company posted ($3.30) earnings per share. The company’s revenue for the quarter was up 61.9% on a year-over-year basis. On average, analysts predict that Marketo will post $-1.47 earnings per share for the current fiscal year.
Marketo, Inc (NASDAQ:MKTO) provides cloud-based marketing software platform that enables organizations to engage in modern relationship marketing.
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