Agora (NASDAQ:API) CEO Buys $40,265.94 in Stock

Key Points

• Agora CEO Bin Zhao bought 9,633 shares at an average of $4.18, investing $40,265.94 and increasing his ownership by 0.47% to 2.06 million shares. The purchase follows a series of additional insider buys in late September and October.
• Agora shares opened at $4.11 and were up 0.7%, with the stock trading between a 52-week low of $3.14 and high of $5.49. The company recently reported adjusted earnings of $0.02 per share, beating estimates by $0.22, while revenue was roughly in line with expectations at $40.42 million.
• Analyst sentiment remains mixed: Bank of America raised its price target to $6.80 and maintained a Buy rating, while other coverage ranges from Hold to downgraded Hold. The overall consensus rating is Hold, with a $6.80 average price target.

Agora, Inc. Sponsored ADR (NASDAQ:API - Get Free Report) CEO Bin Zhao acquired 9,633 shares of Agora stock in a transaction that occurred on Wednesday, September 30th. The stock was purchased at an average price of $4.18 per share, with a total value of $40,265.94. Following the transaction, the chief executive officer owned 2,062,046 shares of the company's stock, valued at $8,619,352.28. This trade represents a 0.47% increase in their ownership of the stock. The purchase was disclosed in a filing with the SEC, which is accessible 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 acquired at an average price 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 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 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 stock was acquired 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 stock was acquired at an average cost 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 acquired at an average price of $4.11 per share, for a total transaction 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, for a total transaction of $38,409.00.
• On Tuesday, September 29th, Bin Zhao acquired 9,364 shares of Agora stock. The shares were acquired at an average cost of $4.15 per share, for a total transaction of $38,860.60.
• On Monday, September 28th, Bin Zhao acquired 9,804 shares of Agora stock. The shares were acquired at an average cost of $4.14 per share, for a total transaction of $40,588.56.
• On Friday, September 25th, Bin Zhao acquired 9,525 shares of Agora stock. The stock was acquired at an average price of $4.22 per share, with a total value of $40,195.50.

Agora Trading Up 0.7%

NASDAQ:API opened at $4.11 on Tuesday. Agora, Inc. Sponsored ADR has a 1 year low of $3.14 and a 1 year 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 has a fifty day moving average price of $4.22 and a two-hundred day moving average price of $4.07. The stock has a market capitalization of $358.89 million, a price-to-earnings ratio of 37.37 and a beta of 0.75.

Agora (NASDAQ:API - Get Free Report) last issued its earnings results on Thursday, August 13th. The company reported $0.02 EPS for the quarter, topping the consensus estimate of ($0.20) by $0.22. The company had revenue of $40.42 million for 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, sell-side analysts anticipate that Agora, Inc. Sponsored ADR will post 0.14 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Agora

A number of large investors have recently added to or reduced their stakes in the business. AXQ Capital LP acquired a new stake in shares of Agora in the second quarter valued at approximately $55,000. Headlands Technologies LLC raised 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 worth $195,000 after purchasing an additional 10,021 shares during the last quarter. Finally, Public Employees Retirement System of Ohio acquired a new position in shares of Agora during the 2nd quarter worth approximately $101,000. 40.40% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several brokerages recently commented on API. Bank of America raised their price objective 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 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 given a Hold rating to the stock. According to MarketBeat, the stock has an average rating of "Hold" and a consensus price target 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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