Agora (NASDAQ:API) CEO Acquires 7,447 Shares of Company Stock

Key Points

• Agora CEO Bin Zhao purchased 7,447 shares at an average price of $4.20, investing $31,277.40 and increasing his direct ownership by 0.37% to 1,994,745 shares.
• Zhao has made a series of additional Agora purchases in recent weeks, signaling continued insider buying at prices generally between $4.06 and $4.19 per share.
• Agora recently exceeded quarterly earnings expectations, while analysts maintain an overall “Hold” rating with an average price target of $6.80; the stock opened at $4.11 and has a market capitalization of about $358.9 million.

Agora, Inc. Sponsored ADR (NASDAQ:API - Get Free Report) CEO Bin Zhao acquired 7,447 shares of the stock in a transaction that occurred on Monday, September 21st. The shares were bought at an average price of $4.20 per share, for a total transaction of $31,277.40. Following the purchase, the chief executive officer directly owned 1,994,745 shares of the company's stock, valued at approximately $8,377,929. This trade represents a 0.37% increase in their ownership of the stock. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink.

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

• On Friday, October 9th, Bin Zhao bought 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 bought 9,956 shares of Agora stock. The stock was purchased at an average price of $4.06 per share, with a total value of $40,421.36.
• On Wednesday, October 7th, Bin Zhao purchased 9,837 shares of Agora stock. The shares were purchased at an average cost of $4.13 per share, with a total value of $40,626.81.
• On Tuesday, October 6th, Bin Zhao purchased 9,773 shares of Agora stock. The shares were purchased at an average cost of $4.19 per share, with a total value of $40,948.87.
• On Monday, October 5th, Bin Zhao purchased 9,713 shares of Agora stock. The shares were purchased at an average price of $4.18 per share, for a total transaction of $40,600.34.
• On Friday, October 2nd, Bin Zhao purchased 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 acquired 9,300 shares of Agora stock. The stock was purchased at an average cost of $4.13 per share, for a total transaction of $38,409.00.
• On Wednesday, September 30th, Bin Zhao acquired 9,633 shares of Agora stock. The stock was purchased at an average price of $4.18 per share, with a total value of $40,265.94.
• On Tuesday, September 29th, Bin Zhao acquired 9,364 shares of Agora stock. The stock was purchased at an average price of $4.15 per share, with a total value of $38,860.60.
• On Monday, September 28th, Bin Zhao bought 9,804 shares of Agora stock. The shares were purchased at an average cost of $4.14 per share, with a total value of $40,588.56.

Agora Price Performance

NASDAQ:API opened at $4.11 on Tuesday. The business's 50-day moving average price is $4.22 and its 200 day moving average price is $4.07. The firm has a market cap of $358.89 million, a P/E ratio of 37.37 and a beta of 0.75. Agora, Inc. Sponsored ADR has a 52-week low of $3.14 and a 52-week high of $5.49. 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 issued its quarterly earnings results on Thursday, August 13th. The company reported $0.02 earnings per share for the quarter, beating analysts' consensus estimates of ($0.20) by $0.22. Agora had a net margin of 7.23% and a return on equity of 1.96%. The company had revenue of $40.42 million during the quarter, compared to the consensus estimate of $40.44 million. As a group, sell-side analysts predict that Agora, Inc. Sponsored ADR will post 0.14 earnings per share for the current fiscal year.

Analyst Ratings Changes

API has been the subject of several recent research reports. Bank of America increased their target price on shares of Agora from $6.60 to $6.80 and gave the company a "buy" rating in a research note on Friday, August 14th. Weiss Ratings upgraded shares of Agora from a "hold (c-)" rating to a "hold (c)" rating in a research report on Friday. Finally, Wall Street Zen cut Agora from a "buy" rating to a "hold" rating in a report on Sunday, August 16th. One equities research analyst has rated the stock with a Buy rating and two have issued a Hold rating to the company. Based on data from MarketBeat, the stock presently has an average rating of "Hold" and an average target price of $6.80.

Institutional Investors Weigh In On Agora

Hedge funds have recently modified their holdings of the stock. Headlands Technologies LLC boosted its position in shares of 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 purchasing an additional 10,021 shares during the period. Public Employees Retirement System of Ohio purchased a new position in Agora in the 2nd quarter worth about $101,000. Finally, AXQ Capital LP acquired a new stake in Agora during the 2nd quarter worth about $55,000. 40.40% of the stock is owned by hedge funds and other institutional investors.

Agora Company Profile

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.

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