Insider Selling: Marketo CFO Sells 10,000 Shares of Stock (MKTO)
Marketo (NASDAQ:MKTO) CFO Frederick Ball sold 10,000 shares of Marketo stock in a transaction dated Monday, June 16th. The stock was sold at an average price of $26.24, for a total value of $262,400.00. Following the transaction, the chief financial officer now directly owns 33,350 shares of the company’s stock, valued at approximately $875,104. The sale was disclosed in a filing with the SEC, which can be accessed through this link.
A number of research firms have recently commented on MKTO. 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 assigned a strong buy rating to the stock. The company currently has a consensus rating of “Buy” and an average price target of $47.50.
Shares of Marketo (NASDAQ:MKTO) traded down 1.44% during mid-day trading on Tuesday, hitting $26.00. The stock had a trading volume of 520,442 shares. Marketo has a 52-week low of $19.49 and a 52-week high of $45.00. The stock has a 50-day moving average of $24.82 and a 200-day moving average of $33.68. The company’s market cap is $1.053 billion.
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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