Agora (NASDAQ:API) CEO Bin Zhao Purchases 9,834 Shares of Company Stock

Key Points

• CEO Bin Zhao purchased 9,834 Agora shares at an average price of $4.33, investing $42,581 and increasing his stake by 0.49% to 2,014,503 shares.
• Zhao has made a series of additional purchases in late September and early October, buying thousands of shares per day at prices generally between $4.06 and $4.19.
• Agora recently exceeded quarterly earnings expectations, reporting $0.02 EPS versus a $0.20 loss estimate. Analysts maintain a consensus Hold rating, with an average price target of $6.80 compared with the stock’s $4.11 opening price.

Agora, Inc. Sponsored ADR (NASDAQ:API - Get Free Report) CEO Bin Zhao acquired 9,834 shares of the firm's stock in a transaction dated Wednesday, September 23rd. The shares were acquired at an average price of $4.33 per share, with a total value of $42,581.22. Following the acquisition, the chief executive officer owned 2,014,503 shares in the company, valued at approximately $8,722,797.99. The trade was a 0.49% increase in their position. The purchase was disclosed in a legal filing with the SEC, which is available at this link.

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

• On Friday, October 9th, Bin Zhao acquired 5,301 shares of Agora stock. The stock was acquired at an average cost 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 shares were acquired at an average price of $4.06 per share, for a total transaction of $40,421.36.
• On Wednesday, October 7th, Bin Zhao bought 9,837 shares of Agora stock. The shares were acquired at an average price of $4.13 per share, for a total transaction of $40,626.81.
• On Tuesday, October 6th, Bin Zhao bought 9,773 shares of Agora stock. The shares were acquired at an average cost of $4.19 per share, for a total transaction of $40,948.87.
• On Monday, October 5th, Bin Zhao bought 9,713 shares of Agora stock. The shares were acquired at an average cost 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 stock was acquired at an average price of $4.11 per share, with a total value of $37,257.15.
• On Thursday, October 1st, Bin Zhao purchased 9,300 shares of Agora stock. The stock was acquired at an average price of $4.13 per share, with a total value of $38,409.00.
• On Wednesday, September 30th, Bin Zhao purchased 9,633 shares of Agora stock. The stock was acquired at an average cost of $4.18 per share, with a total value of $40,265.94.
• On Tuesday, September 29th, Bin Zhao purchased 9,364 shares of Agora stock. The stock was acquired at an average cost of $4.15 per share, with a total value of $38,860.60.
• On Monday, September 28th, Bin Zhao purchased 9,804 shares of Agora stock. The shares were acquired at an average price of $4.14 per share, for a total transaction of $40,588.56.

Agora Price Performance

Shares of API stock opened at $4.11 on Tuesday. 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 firm has a market capitalization of $358.89 million, a price-to-earnings ratio of 37.37 and a beta of 0.75. The stock's 50-day simple moving average is $4.22 and its 200-day simple moving average is $4.07.

Agora (NASDAQ:API - Get Free Report) last announced its quarterly earnings data on Thursday, August 13th. The company reported $0.02 EPS for the quarter, beating the consensus estimate of ($0.20) by $0.22. The firm had revenue of $40.42 million during 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%. As a group, equities analysts forecast that Agora, Inc. Sponsored ADR will post 0.14 earnings per share for the current fiscal year.

Institutional Trading of Agora

Several large investors have recently added to or reduced their stakes in the company. Headlands Technologies LLC increased its holdings in shares of Agora by 25.8% in the second 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. AXQ Capital LP acquired a new stake in shares of Agora during the second quarter worth about $55,000. Finally, Public Employees Retirement System of Ohio acquired a new stake in shares of Agora during the second quarter worth about $101,000. Hedge funds and other institutional investors own 40.40% of the company's stock.

Analysts Set New Price Targets

API has been the topic of a number of recent analyst reports. Weiss Ratings upgraded shares of Agora from a "hold (c-)" rating to a "hold (c)" rating in a research note on Friday. Bank of America lifted their price objective on shares of Agora from $6.60 to $6.80 and gave the stock a "buy" rating in a research note on Friday, August 14th. Finally, Wall Street Zen lowered shares of 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 assigned a Hold rating to the company. Based on data from MarketBeat.com, the stock has a consensus rating of "Hold" and an average target price of $6.80.

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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