Marketo Inc. (NASDAQ:MKTO) gapped up before the market opened on Friday . The stock had previously closed at $35.06, but opened at $35.10. Marketo shares last traded at $35.16, with a volume of 347,796 shares traded.

MKTO has been the subject of several recent research reports. Vetr downgraded shares of Marketo from a “strong-buy” rating to a “buy” rating and set a $29.35 target price for the company. in a research report on Tuesday, May 10th. Craig Hallum initiated coverage on shares of Marketo in a research report on Monday, April 4th. They set a “buy” rating and a $30.00 target price for the company. Zacks Investment Research downgraded shares of Marketo from a “buy” rating to a “hold” rating in a research report on Wednesday, April 13th. Royal Bank Of Canada reaffirmed an “outperform” rating and issued a $30.00 price objective on shares of Marketo in a research report on Wednesday, April 20th. Finally, JMP Securities reaffirmed a “buy” rating on shares of Marketo in a research report on Tuesday, May 31st. Seventeen equities research analysts have rated the stock with a hold rating and two have assigned a buy rating to the company’s stock. The company has a consensus rating of “Hold” and a consensus price target of $33.49.

The company’s 50 day moving average price is $34.98 and its 200 day moving average price is $24.99. The firm’s market cap is $1.57 billion.

In related news, EVP Steven M. Winter sold 5,312 shares of Marketo stock in a transaction dated Tuesday, May 10th. The shares were sold at an average price of $26.00, for a total transaction of $138,112.00. Following the completion of the transaction, the executive vice president now directly owns 87,006 shares of the company’s stock, valued at approximately $2,262,156. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. Also, CEO Phillip M. Fernandez sold 21,600 shares of Marketo stock in a transaction dated Friday, July 8th. The shares were sold at an average price of $34.98, for a total transaction of $755,568.00. Following the transaction, the chief executive officer now directly owns 169,681 shares of the company’s stock, valued at $5,935,441.38. The disclosure for this sale can be found here.

A number of hedge funds and institutional investors have modified their holdings of the stock. Morgan Stanley boosted its position in shares of Marketo by 4.0% in the fourth quarter. Morgan Stanley now owns 1,062,911 shares of the company’s stock worth $30,515,000 after buying an additional 41,212 shares during the period. Jennison Associates LLC raised its stake in Marketo by 15.6% in the fourth quarter. Jennison Associates LLC now owns 763,902 shares of the company’s stock worth $21,932,000 after buying an additional 103,294 shares in the last quarter. Wells Fargo & Company MN raised its stake in Marketo by 33.3% in the fourth quarter. Wells Fargo & Company MN now owns 615,565 shares of the company’s stock worth $17,672,000 after buying an additional 153,704 shares in the last quarter. Russell Frank Co raised its stake in Marketo by 16.4% in the fourth quarter. Russell Frank Co now owns 152,559 shares of the company’s stock worth $4,331,000 after buying an additional 21,492 shares in the last quarter. Finally, New York State Common Retirement Fund raised its stake in Marketo by 3.1% in the fourth quarter. New York State Common Retirement Fund now owns 80,485 shares of the company’s stock worth $2,311,000 after buying an additional 2,400 shares in the last quarter.

Marketo, Inc is engaged in providing cloud-based marketing solutions platform for the organizations ranging from small and medium businesses (SMBs) to largest enterprises, to engage in modern relationship marketing. The Company designs, builds and markets the engagement marketing platform along with a set of applications for marketing professionals.

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