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Marketo (NASDAQ:MKTO) CMO Sanjay Dholakia sold 6,494 shares of Marketo stock on the open market in a transaction that occurred on Monday, June 2nd. The stock was sold at an average price of $22.63, for a total transaction of $146,959.22. Following the completion of the transaction, the chief marketing officer now directly owns 37,712 shares of the company’s stock, valued at approximately $853,423. The sale was disclosed in a filing with the SEC, which can be accessed through this link.

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 research analysts have rated the stock with a buy rating and one has issued a strong buy rating to the company. The stock has an average rating of “Buy” and a consensus target price of $47.50.

Shares of Marketo (NASDAQ:MKTO) traded down 0.89% during mid-day trading on Tuesday, hitting $22.35. The stock had a trading volume of 518,646 shares. 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 in 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 daily volume of 875,179 shares, the days-to-cover ratio is currently 4.2 days.

Marketo (NASDAQ:MKTO) last announced its earnings results 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. 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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