Insider Selling: Marketo major shareholder Sells 124,480 Shares of Stock (MKTO)
Marketo (NASDAQ:MKTO) major shareholder Interwest Partners Ix, Lp sold 124,480 shares of Marketo stock in a transaction that occurred on Friday, May 30th. The stock was sold at an average price of $24.15, for a total transaction of $3,006,192.00. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Major shareholders that own more than 10% of a company’s shares are required to disclose their sales and purchases with the SEC.
MKTO has been the subject of a number of recent research reports. Analysts at Goldman Sachs reiterated a “conviction-buy” rating on shares of Marketo in a research note on Thursday, May 22nd. Finally, analysts at Canaccord Genuity cut their price target on shares of Marketo from $52.00 to $40.00 in a research note on Wednesday, April 9th. They now have a “buy” rating on the stock. Three equities research analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the company’s stock. Marketo presently has an average rating of “Buy” and a consensus price target of $47.50.
Shares of Marketo (NASDAQ:MKTO) traded down 2.72% on Monday, hitting $22.55. 561,205 shares of the company’s stock traded hands. Marketo has a one year low of $17.20 and a one year high of $45.00. The stock has a 50-day moving average of $26. and a 200-day moving average of $34.21. The company’s market cap is $913.0 million. Marketo also was the target of a large growth in short interest in May. As of May 15th, there was short interest totalling 3,646,699 shares, a growth of 42.7% from the April 30th total of 2,555,709 shares. Approximately 14.9% of the company’s stock are short sold. Based on an average trading volume of 875,179 shares, the short-interest ratio is currently 4.2 days.
Marketo (NASDAQ:MKTO) last issued its quarterly earnings data on Thursday, April 24th. The company reported ($0.18) EPS for the quarter, beating the Thomson Reuters consensus estimate of ($0.29) by $0.11. The company had revenue of $32.30 million for the quarter, compared to the consensus estimate of $30.12 million. During the same quarter in the prior year, the company posted ($2.64) earnings per share. The company’s quarterly revenue was up 64.0% on a year-over-year basis. On average, analysts predict that Marketo will post $-1.02 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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