Agora (NASDAQ:API) CEO Acquires 8,989 Shares of Company Stock

Key Points

• CEO Bin Zhao bought 8,989 Agora shares at an average price of $4.40, investing $39,551.60 and increasing his direct ownership to 2,204,735 shares. The purchase was part of a series of insider buys made throughout October.
• Agora shares fell 2.2% to $4.39 during Thursday trading, giving the company a market capitalization of approximately $383 million. The stock remains between its 52-week range of $3.14 to $5.49.
• Analysts maintain a generally cautious view, with Agora carrying an average “Hold” rating and a $6.80 target price. The company recently exceeded quarterly EPS expectations, reporting $0.02 versus the consensus estimate of a $0.20 loss.

Agora, Inc. Sponsored ADR (NASDAQ:API - Get Free Report) CEO Bin Zhao acquired 8,989 shares of the firm's stock in a transaction that occurred on Thursday, October 22nd. The stock was acquired at an average price of $4.40 per share, for a total transaction of $39,551.60. Following the completion of the acquisition, the chief executive officer directly owned 2,204,735 shares of the company's stock, valued at $9,700,834. The trade was a 0.41% increase in their position. The purchase was disclosed in a filing with the SEC, which is available through the SEC website.

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

• On Wednesday, October 21st, Bin Zhao bought 9,513 shares of Agora stock. The shares were acquired at an average cost of $4.46 per share, with a total value of $42,427.98.
• On Tuesday, October 20th, Bin Zhao bought 9,794 shares of Agora stock. The shares were acquired at an average cost of $4.36 per share, with a total value of $42,701.84.
• On Friday, October 16th, Bin Zhao bought 8,800 shares of Agora stock. The stock was acquired at an average price of $4.43 per share, for a total transaction of $38,984.00.
• On Thursday, October 15th, Bin Zhao acquired 8,545 shares of Agora stock. The stock was bought at an average price of $4.45 per share, for a total transaction of $38,025.25.
• On Monday, October 12th, Bin Zhao acquired 8,937 shares of Agora stock. The stock was bought at an average price of $4.11 per share, for a total transaction of $36,731.07.
• On Wednesday, October 14th, Bin Zhao bought 9,757 shares of Agora stock. The shares were bought at an average cost of $4.30 per share, with a total value of $41,955.10.
• On Tuesday, October 13th, Bin Zhao bought 5,438 shares of Agora stock. The shares were bought at an average cost 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 bought at an average price of $4.08 per share, with a total value of $21,628.08.
• On Thursday, October 8th, Bin Zhao bought 9,956 shares of Agora stock. The stock was purchased at an average cost of $4.06 per share, for a total transaction of $40,421.36.
• On Wednesday, October 7th, Bin Zhao acquired 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.

Agora Stock Down 2.2%

Shares of API traded down $0.10 during mid-day trading on Thursday, hitting $4.39. 118,163 shares of the company's stock were exchanged, compared to its average volume of 139,069. The company has a market cap of $383.33 million, a price-to-earnings ratio of 39.91 and a beta of 0.75. Agora, Inc. Sponsored ADR has a fifty-two week low of $3.14 and a fifty-two week high of $5.49. The company has a debt-to-equity ratio of 0.18, a quick ratio of 5.11 and a current ratio of 5.11. The stock's 50-day moving average is $4.21 and its 200-day moving average is $4.12.

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

Analyst Upgrades and Downgrades

API has been the subject of several analyst reports. Wall Street Zen cut Agora from a "buy" rating to a "hold" rating in a research report on Sunday, August 16th. Weiss Ratings raised Agora from a "hold (c-)" rating to a "hold (c)" rating in a report on Friday, October 9th. Finally, Bank of America boosted 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 given a Hold rating to the company's stock. According to data from MarketBeat, Agora presently has an average rating of "Hold" and an average target price of $6.80.

Institutional Inflows and Outflows

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

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