Marketo EVP William B. Binch, Jr. Sells 61,433 Shares (MKTO)
Marketo (NASDAQ:MKTO) EVP William B. Binch, Jr. sold 61,433 shares of Marketo stock in a transaction that occurred on Friday, August 1st. The shares were sold at an average price of $26.26, for a total value of $1,613,230.58. Following the completion of the transaction, the executive vice president now directly owns 48,100 shares of the company’s stock, valued at approximately $1,263,106. The sale was disclosed in a legal filing with the SEC, which is available at this link.
Shares of Marketo (NASDAQ:MKTO) traded up 0.04% during mid-day trading on Tuesday, hitting $26.93. 505,106 shares of the company’s stock traded hands. Marketo has a one year low of $22.02 and a one year high of $45.00. The stock’s 50-day moving average is $27.5 and its 200-day moving average is $31.6. The company’s market cap is $1.084 billion.
Marketo (NASDAQ:MKTO) last announced its earnings results on Thursday, July 24th. The company reported ($0.17) earnings per share for the quarter, beating the analysts’ consensus estimate of ($0.30) by $0.13. The company had revenue of $36.00 million for the quarter, compared to the consensus estimate of $33.97 million. During the same quarter last year, the company posted ($0.49) earnings per share. Marketo’s revenue was up 60.1% compared to the same quarter last year. On average, analysts predict that Marketo will post $-0.91 earnings per share for the current fiscal year.
A number of research firms have recently commented on MKTO. Analysts at First Analysis initiated coverage on shares of Marketo in a research note on Wednesday, July 23rd. They set an “overweight” rating on the stock. Separately, analysts at Goldman Sachs reiterated a “conviction-buy” rating on shares of Marketo in a research note on Thursday, May 22nd. Finally, analysts at Goldman Sachs downgraded shares of Marketo from a “conviction-buy” rating to a “buy” rating in a research note on Wednesday, May 21st. They now have a $23.99 price target on the stock, down previously from $41.00. Four investment analysts have rated the stock with a buy rating and one has given a strong buy rating to the company. The stock presently has an average rating of “Buy” and an average target price of $47.50.
Marketo, Inc (NASDAQ:MKTO) provides cloud-based marketing software platform that enables organizations to engage in modern relationship marketing.
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