Agora (NASDAQ:API) CEO Buys 8,800 Shares of Company Stock

Key Points

• Agora CEO Bin Zhao bought 8,800 shares at an average price of $4.43, investing $38,984 and increasing his direct ownership to 2.17 million shares. The purchase was part of a series of insider buys totaling several weeks.
• Agora shares opened at $4.35, with a market capitalization of approximately $379.8 million and a 52-week range of $3.14 to $5.49. The company recently reported adjusted EPS of $0.02, beating the consensus estimate of a $0.20 loss, while revenue was approximately $40.4 million.
• Analysts maintain an overall “Hold” rating, with one Buy and two Hold recommendations; Bank of America raised its price target to $6.80.

Agora, Inc. Sponsored ADR (NASDAQ:API - Get Free Report) CEO Bin Zhao acquired 8,800 shares of the company's stock in a transaction that occurred on Friday, October 16th. The stock was purchased at an average cost of $4.43 per share, with a total value of $38,984.00. Following the completion of the purchase, the chief executive officer directly owned 2,166,468 shares in the company, valued at $9,597,453.24. This represents a 0.41% increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink.

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

• On Thursday, October 15th, Bin Zhao bought 8,545 shares of Agora stock. The shares were purchased at an average price of $4.45 per share, for a total transaction of $38,025.25.
• On Monday, October 12th, Bin Zhao bought 8,937 shares of Agora stock. The stock was purchased at an average cost 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 stock was purchased at an average cost of $4.30 per share, for a total transaction of $41,955.10.
• On Tuesday, October 13th, Bin Zhao purchased 5,438 shares of Agora stock. The stock was purchased at an average price 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 purchased at an average cost 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 shares were purchased at an average cost of $4.06 per share, with a total value of $40,421.36.
• On Wednesday, October 7th, Bin Zhao acquired 9,837 shares of Agora stock. The stock was acquired at an average price of $4.13 per share, for a total transaction of $40,626.81.
• On Tuesday, October 6th, Bin Zhao acquired 9,773 shares of Agora stock. The stock was acquired 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 stock was acquired at an average cost of $4.18 per share, for a total transaction of $40,600.34.
• On Friday, October 2nd, Bin Zhao bought 9,065 shares of Agora stock. The shares were acquired at an average price of $4.11 per share, with a total value of $37,257.15.

Agora Stock Performance

Shares of API opened at $4.35 on Monday. The company has a debt-to-equity ratio of 0.18, a current ratio of 5.11 and a quick ratio of 5.11. Agora, Inc. Sponsored ADR has a 1-year low of $3.14 and a 1-year high of $5.49. The stock has a market cap of $379.84 million, a price-to-earnings ratio of 39.55 and a beta of 0.75. The firm has a 50 day simple moving average of $4.23 and a 200-day simple moving average of $4.09.

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

Wall Street Analyst Weigh In

API has been the topic of several recent research reports. Weiss Ratings upgraded Agora from a "hold (c-)" rating to a "hold (c)" rating in a research report on Friday, October 9th. Bank of America lifted their price objective on Agora from $6.60 to $6.80 and gave the stock a "buy" rating in a research report on Friday, August 14th. Finally, Wall Street Zen downgraded shares of Agora from a "buy" rating to a "hold" rating in a research note on Sunday, August 16th. One research analyst has rated the stock with a Buy rating and two have issued a Hold rating to the company. According to MarketBeat.com, Agora currently has an average rating of "Hold" and an average price target of $6.80.

Institutional Inflows and Outflows

Several institutional investors have recently bought and sold shares of API. Headlands Technologies LLC lifted its stake 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 period. Public Employees Retirement System of Ohio purchased a new stake in shares of Agora in the second quarter valued at $101,000. Finally, AXQ Capital LP purchased a new stake in shares of Agora in the second quarter valued at $55,000. 40.40% of the stock is currently owned by institutional investors and hedge funds.

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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