Insider Selling: Marketo SVP Sells 4,500 Shares of Stock (MKTO)
Marketo (NASDAQ:MKTO) SVP Jason L. Holmes unloaded 4,500 shares of the company’s stock on the open market in a transaction that occurred on Monday, June 2nd. The stock was sold at an average price of $22.62, for a total transaction of $101,790.00. Following the completion of the transaction, the senior vice president now directly owns 27,950 shares of the company’s stock, valued at approximately $632,229. The transaction was disclosed in a filing with the SEC, which can be accessed through this link.
Several analysts have recently commented on the stock. 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 analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the stock. The company currently has an average rating of “Buy” and an average price target of $47.50.
Shares of Marketo (NASDAQ:MKTO) traded down 0.89% on Tuesday, hitting $22.35. 518,646 shares of the company’s stock traded hands. Marketo has a 52-week low of $17.20 and a 52-week high of $45.00. The stock has a 50-day moving average of $26.36 and a 200-day moving average of $34.17. The company’s market cap is $905.0 million. Marketo also was the recipient of a significant growth in short interest during the month of 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 shares are sold short. Based on an average trading volume of 875,179 shares, the short-interest ratio is currently 4.2 days.
Marketo (NASDAQ:MKTO) last released its earnings data on Thursday, April 24th. The company reported ($0.18) earnings per share (EPS) for the quarter, beating the 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 previous year, the company posted ($2.64) earnings per share. The company’s revenue for the quarter was up 64.0% on a year-over-year basis. Analysts expect that Marketo will post $-1.02 EPS 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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