Agora (NASDAQ:API) CEO Acquires $36,731.07 in Stock

Key Points

• Agora CEO Bin Zhao purchased 8,937 shares at an average price of $4.11, investing $36,731.07 and increasing his direct holdings by 0.42% to 2.13 million shares.
• Zhao has made a series of additional purchases since September 30, signaling sustained insider buying of Agora stock at prices between approximately $4.06 and $4.30 per share.
• Agora reported quarterly EPS of $0.02, beating the consensus estimate of a $0.20 loss, while revenue of $40.42 million was roughly in line with forecasts. Analysts maintain an overall “Hold” rating with a consensus price target of $6.80.

Agora, Inc. Sponsored ADR (NASDAQ:API - Get Free Report) CEO Bin Zhao bought 8,937 shares of the stock in a transaction on Monday, October 12th. The shares were bought at an average price of $4.11 per share, for a total transaction of $36,731.07. Following the completion of the transaction, the chief executive officer directly owned 2,133,928 shares of the company's stock, valued at $8,770,444.08. This trade represents a 0.42% increase in their position. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website.

Bin Zhao also recently made the following trade(s):

• On Wednesday, October 14th, Bin Zhao purchased 9,757 shares of Agora stock. The shares were bought at an average price of $4.30 per share, with a total value of $41,955.10.
• On Tuesday, October 13th, Bin Zhao purchased 5,438 shares of Agora stock. The shares were bought at an average price of $4.20 per share, with a total value of $22,839.60.
• On Friday, October 9th, Bin Zhao purchased 5,301 shares of Agora stock. The shares were purchased at an average cost of $4.08 per share, for a total transaction of $21,628.08.
• On Thursday, October 8th, Bin Zhao purchased 9,956 shares of Agora stock. The stock was purchased at an average price of $4.06 per share, for a total transaction of $40,421.36.
• On Wednesday, October 7th, Bin Zhao purchased 9,837 shares of Agora stock. The stock was purchased at an average price of $4.13 per share, for a total transaction of $40,626.81.
• On Tuesday, October 6th, Bin Zhao acquired 9,773 shares of Agora stock. The stock was purchased at an average cost of $4.19 per share, with a total value of $40,948.87.
• On Monday, October 5th, Bin Zhao acquired 9,713 shares of Agora stock. The shares were purchased at an average cost of $4.18 per share, with a total value of $40,600.34.
• On Friday, October 2nd, Bin Zhao bought 9,065 shares of Agora stock. The shares were purchased at an average price of $4.11 per share, for a total transaction of $37,257.15.
• On Thursday, October 1st, Bin Zhao bought 9,300 shares of Agora stock. The shares were purchased at an average price of $4.13 per share, for a total transaction of $38,409.00.
• On Wednesday, September 30th, Bin Zhao bought 9,633 shares of Agora stock. The stock was purchased at an average cost of $4.18 per share, for a total transaction of $40,265.94.

Agora Trading Down 2.3%

Shares of API stock opened at $4.32 on Thursday. Agora, Inc. Sponsored ADR has a fifty-two week low of $3.14 and a fifty-two week high of $5.49. The stock has a market cap of $377.21 million, a P/E ratio of 39.28 and a beta of 0.75. The business has a fifty day simple moving average of $4.23 and a 200-day simple moving average of $4.08. The company has a quick ratio of 5.11, a current ratio of 5.11 and a debt-to-equity ratio of 0.18.

Agora (NASDAQ:API - Get Free Report) last released its quarterly earnings data on Thursday, August 13th. The company reported $0.02 EPS for the quarter, topping the consensus estimate of ($0.20) by $0.22. The business had revenue of $40.42 million for the quarter, compared to analyst estimates of $40.44 million. Agora had a net margin of 7.23% and a return on equity of 1.96%. On average, analysts forecast that Agora, Inc. Sponsored ADR will post 0.14 earnings per share for the current fiscal year.

Analysts Set New Price Targets

A number of brokerages have recently weighed in on API. Wall Street Zen cut shares of Agora from a "buy" rating to a "hold" rating in a research note on Sunday, August 16th. Weiss Ratings raised Agora from a "hold (c-)" rating to a "hold (c)" rating in a research note on Friday, October 9th. Finally, Bank of America increased their target price on Agora from $6.60 to $6.80 and gave the company a "buy" rating in a report on Friday, August 14th. One analyst has rated the stock with a Buy rating and two have assigned a Hold rating to the company. According to MarketBeat.com, the company presently has an average rating of "Hold" and a consensus target price of $6.80.

Institutional Investors Weigh In On Agora

Hedge funds and other institutional investors have recently made changes to their positions in the business. AXQ Capital LP acquired a new position in Agora in the second quarter valued at $55,000. Public Employees Retirement System of Ohio acquired a new stake in Agora in the 2nd quarter worth about $101,000. Finally, Headlands Technologies LLC grew its holdings in Agora by 25.8% in the 2nd quarter. Headlands Technologies LLC now owns 48,795 shares of the company's stock valued at $195,000 after buying an additional 10,021 shares during the period. Hedge funds and other institutional investors own 40.40% of the company's stock.

About Agora

Agora, Inc NASDAQ: API provides real-time engagement technology that enables developers and businesses to add live voice, video, interactive broadcasting and messaging capabilities to applications and digital services. Its platform is delivered primarily through application programming interfaces (APIs) and software development kits (SDKs), allowing customers to integrate communications features without building the underlying infrastructure themselves.

The company's offerings support use cases such as video conferencing, online education, telehealth, social and interactive entertainment, customer engagement, gaming and virtual events.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.