Insider Selling: Phillip M. Fernandez Unloads 10,000 Shares of Marketo Stock (MKTO)
Marketo (NASDAQ:MKTO) CEO Phillip M. Fernandez sold 10,000 shares of Marketo stock in a transaction dated Friday, August 8th. The shares were sold at an average price of $27.20, for a total transaction of $272,000.00. Following the transaction, the chief executive officer now directly owns 84,541 shares in the company, valued at approximately $2,299,515. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link.
Shares of Marketo (NASDAQ:MKTO) traded up 3.49% on Monday, hitting $28.46. 437,408 shares of the company’s stock traded hands. Marketo has a 52-week low of $22.02 and a 52-week high of $45.00. The stock’s 50-day moving average is $27.59 and its 200-day moving average is $31.40. The company’s market cap is $1.146 billion.
Marketo (NASDAQ:MKTO) last announced its earnings results on Thursday, July 24th. The company reported ($0.17) earnings per share (EPS) for the quarter, beating the 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 in the previous year, the company posted ($0.49) earnings per share. The company’s revenue for the quarter was up 60.1% on a year-over-year basis. On average, analysts predict that Marketo will post $-0.91 earnings per share for the current fiscal year.
MKTO has been the subject of a number of recent research reports. 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 research analysts have rated the stock with a buy rating and one has given a strong buy rating to the company’s stock. The company has a consensus rating of “Buy” and an average price target 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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