Insider Selling: William B. Binch, Jr. Sells 1,000 Shares of Marketo Stock (MKTO)
Marketo (NASDAQ:MKTO) EVP William B. Binch, Jr. sold 1,000 shares of the stock in a transaction that occurred on Monday, July 7th. The shares were sold at an average price of $29.41, for a total transaction of $29,410.00. Following the completion of the transaction, the executive vice president now directly owns 49,350 shares in the company, valued at approximately $1,451,384. The transaction was disclosed in a document filed 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 equities research analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the stock. The stock currently has a consensus rating of “Buy” and a consensus price target of $47.50.
Shares of Marketo (NASDAQ:MKTO) traded down 3.52% during mid-day trading on Tuesday, hitting $27.43. 892,052 shares of the company’s stock traded hands. Marketo has a 52-week low of $21.15 and a 52-week high of $45.00. The stock’s 50-day moving average is $26.07 and its 200-day moving average is $33.27. The company’s market cap is $1.111 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. 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.
Get Analysts' Upgrades and Downgrades via Email - Stay on top of analysts' coverage with Analyst Ratings Network's FREE daily email newsletter that provides a concise list of analysts' upgrades and downgrades. Click here to register now.