Bank of America lowered shares of Marketo Inc (NASDAQ:MKTO) from a neutral rating to an underperform rating in a research report report published on Tuesday morning, The Fly reports.

In related news, CMO Sanjay Dholakia sold 4,813 shares of the stock in a transaction on Monday, November 2nd. The stock was sold at an average price of $29.04, for a total transaction of $139,769.52. Following the sale, the chief marketing officer now directly owns 39,025 shares of the company’s stock, valued at $1,133,286. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, CEO Phillip M. Fernandez sold 25,000 shares of the stock in a transaction on Thursday, December 3rd. The shares were sold at an average price of $29.10, for a total value of $727,500.00. Following the sale, the chief executive officer now directly owns 132,220 shares in the company, valued at $3,847,602. The disclosure for this sale can be found here.

Other large investors have added to or reduced their stakes in the company. Hamilton Lane Advisors LLC boosted its stake in Marketo by 154.0% in the fourth quarter. Hamilton Lane Advisors LLC now owns 65,105 shares of the company’s stock valued at $1,869,000 after buying an additional 39,469 shares during the period. Simplex Trading boosted its stake in Marketo by 400.0% in the fourth quarter. Simplex Trading now owns 25 shares of the company’s stock valued at $0 after buying an additional 20 shares during the period. Fisher Asset Management acquired a new stake in Marketo during the fourth quarter valued at approximately $3,098,000. Quantitative Systematic Strategies acquired a new stake in Marketo during the fourth quarter valued at approximately $483,000. Finally, Edge Wealth Management boosted its stake in Marketo by 3.3% in the fourth quarter. Edge Wealth Management now owns 17,375 shares of the company’s stock valued at $503,000 after buying an additional 550 shares during the period.

MKTO has been the subject of a number of other research reports. Wells Fargo downgraded Marketo from an outperform rating to a market perform rating in a report on Monday, November 2nd. Zacks Investment Research downgraded Marketo from a buy rating to a hold rating in a report on Wednesday, October 14th. Canaccord Genuity reiterated a buy rating and issued a $38.00 price objective on shares of Marketo in a report on Friday, October 23rd. RBC Capital upgraded Marketo from a sector perform rating to an outperform rating and set a $34.00 price objective for the company in a report on Friday, January 15th. They noted that the move was a valuation call. Finally, Goldman Sachs reiterated a hold rating on shares of Marketo in a report on Saturday, December 12th. One equities research analyst has rated the stock with a sell rating, three have assigned a hold rating and eleven have given a buy rating to the stock. The stock has a consensus rating of Buy and a consensus target price of $38.50.

Shares of Marketo (NASDAQ:MKTO) opened at 21.59 on Tuesday. The stock’s 50 day moving average price is $25.97 and its 200-day moving average price is $28.43. Marketo has a 1-year low of $20.71 and a 1-year high of $35.63. The company’s market capitalization is $934.87 million.

Marketo, Inc. (NASDAQ:MKTO) is engaged in providing cloud-based marketing solutions platform for the organizations ranging from small and medium businesses to largest enterprises, to engage in modern relationship marketing. The Company’s platform provides the execution, management and analytical measurement of online, social, mobile and offline marketing activities and customer interactions in multi-channel business environment. The Company’s platform offers an integrated suite of applications, which include marketing automation, sales insight, revenue analytics, marketing calendar, real-time personalization and social marketing. Its applications are complemented by the Marketo Marketing Nation, a network of more than 400 third-party solutions through the Company’s LaunchPoint ecosystem. The Company has approximately 3,794 customers across a range of industries, including business services, consumer, financial services, healthcare, manufacturing, media, technology and telecommunications.

12 Month Chart for NASDAQ:MKTO

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