Agora (NASDAQ:API) CEO Bin Zhao Buys 9,300 Shares of Stock

Key Points

• Agora CEO Bin Zhao purchased 9,300 shares at an average price of $4.13, investing $38,409 and increasing his stake by 0.45% to 2.07 million shares.
• Zhao has made a series of additional Agora purchases in recent weeks, buying thousands of shares daily at prices generally between $4.06 and $4.22.
• Agora’s shares opened at $4.11, while analysts maintain a consensus “Hold” rating with an average price target of $6.80; the company recently exceeded quarterly EPS expectations.

Agora, Inc. Sponsored ADR (NASDAQ:API - Get Free Report) CEO Bin Zhao bought 9,300 shares of Agora stock in a transaction dated Thursday, October 1st. The shares were acquired at an average price of $4.13 per share, with a total value of $38,409.00. Following the completion of the purchase, the chief executive officer owned 2,071,346 shares in the company, valued at approximately $8,554,658.98. The trade was a 0.45% increase in their position. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website.

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

• On Friday, October 9th, Bin Zhao purchased 5,301 shares of Agora stock. The stock was bought at an average price of $4.08 per share, with a total value of $21,628.08.
• On Thursday, October 8th, Bin Zhao purchased 9,956 shares of Agora stock. The stock was bought 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 stock was bought at an average cost of $4.13 per share, for a total transaction of $40,626.81.
• On Tuesday, October 6th, Bin Zhao purchased 9,773 shares of Agora stock. The stock was bought at an average cost of $4.19 per share, for a total transaction of $40,948.87.
• On Monday, October 5th, Bin Zhao acquired 9,713 shares of Agora stock. The shares were bought at an average price of $4.18 per share, for a total transaction of $40,600.34.
• On Friday, October 2nd, Bin Zhao acquired 9,065 shares of Agora stock. The shares were bought at an average cost of $4.11 per share, with a total value of $37,257.15.
• On Wednesday, September 30th, Bin Zhao acquired 9,633 shares of Agora stock. The shares were bought at an average cost of $4.18 per share, with a total value of $40,265.94.
• On Tuesday, September 29th, Bin Zhao bought 9,364 shares of Agora stock. The stock was bought at an average cost 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 stock was bought at an average price of $4.14 per share, for a total transaction of $40,588.56.
• On Friday, September 25th, Bin Zhao purchased 9,525 shares of Agora stock. The shares were bought at an average cost of $4.22 per share, for a total transaction of $40,195.50.

Agora Stock Up 0.7%

NASDAQ:API opened at $4.11 on Tuesday. The company has a market capitalization of $358.89 million, a price-to-earnings ratio of 37.37 and a beta of 0.75. Agora, Inc. Sponsored ADR has a one year low of $3.14 and a one year high of $5.49. The stock has a 50-day simple moving average of $4.22 and a 200 day simple moving average of $4.07. The company has a debt-to-equity ratio of 0.18, a quick ratio of 5.11 and a current ratio of 5.11.

Agora (NASDAQ:API - Get Free Report) last announced its quarterly earnings data on Thursday, August 13th. The company reported $0.02 earnings per share (EPS) for the quarter, beating 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 firm had revenue of $40.42 million for the quarter, compared to analysts' expectations of $40.44 million. Sell-side analysts predict that Agora, Inc. Sponsored ADR will post 0.14 EPS for the current fiscal year.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently modified their holdings of API. Headlands Technologies LLC grew its position in shares of Agora by 25.8% during 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 last quarter. AXQ Capital LP acquired a new stake in Agora during the second quarter worth about $55,000. Finally, Public Employees Retirement System of Ohio acquired a new stake in Agora during the second quarter worth about $101,000. 40.40% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

API has been the subject of a number of research analyst reports. Bank of America boosted their price target on Agora from $6.60 to $6.80 and gave the company a "buy" rating in a report on Friday, August 14th. Weiss Ratings upgraded Agora from a "hold (c-)" rating to a "hold (c)" rating in a research note on Friday. Finally, Wall Street Zen downgraded shares of Agora from a "buy" rating to a "hold" rating in a report on Sunday, August 16th. One analyst has rated the stock with a Buy rating and two have issued a Hold rating to the company's stock. According to MarketBeat.com, Agora currently has a consensus rating of "Hold" and an average target price of $6.80.

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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