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Marketo (NASDAQ:MKTO) was down 3.8% on Friday following insider selling activity, Stock Ratings Network reports. The stock traded as low as $26.07 and last traded at $26.17, with a volume of 351,838 shares. The stock had previously closed at $27.19.

Specifically, EVP William B. Binch, Jr. sold 2,000 shares of Marketo stock on the open market in a transaction dated Wednesday, June 18th. The shares were sold at an average price of $26.90, for a total transaction of $53,800.00. The sale was disclosed in a legal filing with the Securities & Exchange Commission, 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 analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the company. Marketo presently has an average rating of “Buy” and a consensus price target of $47.50.

The stock’s 50-day moving average is $24.83 and its 200-day moving average is $33.59. The company’s market cap is $1.059 billion.

Marketo (NASDAQ:MKTO) last released its earnings data on Thursday, April 24th. The company reported ($0.18) earnings per share for the quarter, beating the analysts’ 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 last year, the company posted ($2.64) earnings per share. Marketo’s revenue was up 64.0% compared to the same quarter last year. 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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