Agora (NASDAQ:API) CEO Buys 9,364 Shares of Stock

Key Points

• CEO Bin Zhao bought 9,364 Agora shares at an average price of $4.15, investing $38,860.60 and increasing his ownership by 0.46% to 2,052,413 shares.
• Zhao has made a series of additional purchases since late September, buying thousands of shares daily at prices generally between $4.06 and $4.22.
• Agora’s stock opened at $4.11, while analysts maintain a consensus “Hold” rating and an average price target of $6.80; the company recently exceeded quarterly EPS expectations despite revenue roughly matching estimates.

Agora, Inc. Sponsored ADR (NASDAQ:API - Get Free Report) CEO Bin Zhao bought 9,364 shares of the firm's stock in a transaction on Tuesday, September 29th. The shares were acquired at an average price of $4.15 per share, for a total transaction of $38,860.60. Following the transaction, the chief executive officer owned 2,052,413 shares in the company, valued at approximately $8,517,513.95. This represents a 0.46% increase in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink.

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 acquired 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 acquired 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 price 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 shares were bought at an average cost of $4.19 per share, for a total transaction of $40,948.87.
• On Monday, October 5th, Bin Zhao purchased 9,713 shares of Agora stock. The stock was bought at an average price 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 bought at an average cost of $4.11 per share, with a total value of $37,257.15.
• On Thursday, October 1st, Bin Zhao acquired 9,300 shares of Agora stock. The shares were purchased at an average cost 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 purchased at an average cost of $4.18 per share, with a total value of $40,265.94.
• On Monday, September 28th, Bin Zhao acquired 9,804 shares of Agora stock. The shares were purchased at an average price of $4.14 per share, for a total transaction of $40,588.56.
• On Friday, September 25th, Bin Zhao bought 9,525 shares of Agora stock. The stock was purchased at an average cost of $4.22 per share, for a total transaction of $40,195.50.

Agora Price Performance

API stock opened at $4.11 on Tuesday. The company's 50-day moving average price is $4.22 and its two-hundred day moving average price is $4.07. The firm has a market cap of $358.89 million, a P/E ratio of 37.37 and a beta of 0.75. The company has a quick ratio of 5.11, a current ratio of 5.11 and a debt-to-equity ratio of 0.18. Agora, Inc. Sponsored ADR has a 12 month low of $3.14 and a 12 month high of $5.49.

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

Analysts Set New Price Targets

Several research analysts have commented on API shares. Weiss Ratings upgraded shares of Agora from a "hold (c-)" rating to a "hold (c)" rating in a research report on Friday. Bank of America lifted their price target on Agora from $6.60 to $6.80 and gave the company a "buy" rating in a research note on Friday, August 14th. Finally, Wall Street Zen downgraded Agora from a "buy" rating to a "hold" rating in a research report 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. Based on data from MarketBeat, the company presently has an average rating of "Hold" and an average price target of $6.80.

Institutional Investors Weigh In On Agora

A number of institutional investors have recently made changes to their positions in the stock. Headlands Technologies LLC increased its stake 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 buying an additional 10,021 shares during the period. Public Employees Retirement System of Ohio bought a new position in shares of Agora during the second quarter worth about $101,000. Finally, AXQ Capital LP acquired a new position in shares of Agora in the second quarter worth approximately $55,000. Institutional investors 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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