Agora (NASDAQ:API) CEO Bin Zhao Acquires 9,773 Shares of Stock

Key Points

• CEO Bin Zhao bought 9,773 Agora shares at an average price of $4.19, investing $40,948.87 and increasing his direct ownership to 2,099,897 shares.
• Zhao has made a series of additional Agora purchases since September 25, signaling sustained insider buying at prices generally between $4.06 and $4.22 per share.
• Agora shares opened at $4.11, while analysts maintained a consensus “Hold” rating with a $6.80 target price; the company recently exceeded quarterly EPS expectations despite revenue broadly matching estimates.

Agora, Inc. Sponsored ADR (NASDAQ:API - Get Free Report) CEO Bin Zhao acquired 9,773 shares of the business's stock in a transaction on Tuesday, October 6th. The shares were purchased at an average price of $4.19 per share, for a total transaction of $40,948.87. Following the purchase, the chief executive officer directly owned 2,099,897 shares of the company's stock, valued at $8,798,568.43. This represents a 0.47% increase in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at 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 bought 9,837 shares of Agora stock. The stock was purchased at an average price of $4.13 per share, with a total value of $40,626.81.
• On Monday, October 5th, Bin Zhao purchased 9,713 shares of Agora stock. The stock was purchased at an average price of $4.18 per share, with a total value of $40,600.34.
• On Friday, October 2nd, Bin Zhao purchased 9,065 shares of Agora stock. The stock was purchased at an average price of $4.11 per share, with a total value of $37,257.15.
• On Thursday, October 1st, Bin Zhao bought 9,300 shares of Agora stock. The shares were acquired at an average price of $4.13 per share, with a total value of $38,409.00.
• On Wednesday, September 30th, Bin Zhao acquired 9,633 shares of Agora stock. The shares were acquired at an average price of $4.18 per share, for a total transaction of $40,265.94.
• On Tuesday, September 29th, Bin Zhao bought 9,364 shares of Agora stock. The stock was acquired at an average cost of $4.15 per share, for a total transaction of $38,860.60.
• On Monday, September 28th, Bin Zhao bought 9,804 shares of Agora stock. The stock was bought at an average price of $4.14 per share, with a total value of $40,588.56.
• On Friday, September 25th, Bin Zhao bought 9,525 shares of Agora stock. The shares were bought at an average cost of $4.22 per share, with a total value of $40,195.50.

Agora Stock Up 0.7%

NASDAQ:API opened at $4.11 on Tuesday. The company has a current ratio of 5.11, a quick ratio of 5.11 and a debt-to-equity ratio of 0.18. The stock has a 50 day moving average of $4.22 and a 200-day moving average of $4.07. The firm has a market capitalization of $358.89 million, a PE 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.

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

Analyst Ratings Changes

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

Hedge Funds Weigh In On Agora

Several large investors have recently bought and sold shares of the stock. Public Employees Retirement System of Ohio bought a new stake in shares of Agora during the 2nd quarter worth about $101,000. AXQ Capital LP acquired a new stake in shares of Agora in the 2nd quarter worth approximately $55,000. Finally, Headlands Technologies LLC lifted its stake in shares of Agora by 25.8% in the 2nd quarter. Headlands Technologies LLC now owns 48,795 shares of the company's stock worth $195,000 after acquiring an additional 10,021 shares during the period. Institutional investors and hedge funds 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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