Agora (NASDAQ:API) CEO Purchases $34,383.24 in Stock

Key Points

• Agora CEO Bin Zhao bought 7,692 shares at an average price of $4.47, investing $34,383.24 and increasing his ownership by 0.35% to 2.22 million shares.
• The purchase extends a series of insider buys by Zhao throughout October, with total individual transactions generally ranging from about $23,000 to $44,000.
• Agora shares opened at $4.48, while analysts maintain a consensus “Hold” rating and an average price target of $6.80. The company recently exceeded quarterly EPS expectations, reporting $0.02 versus the projected loss of $0.20.

Agora, Inc. Sponsored ADR (NASDAQ:API - Get Free Report) CEO Bin Zhao acquired 7,692 shares of the stock in a transaction dated Monday, October 26th. The stock was bought at an average cost of $4.47 per share, with a total value of $34,383.24. Following the completion of the purchase, the chief executive officer owned 2,222,333 shares of the company's stock, valued at approximately $9,933,828.51. The trade was a 0.35% increase in their ownership of the stock. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website.

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

• On Friday, October 23rd, Bin Zhao bought 9,906 shares of Agora stock. The stock was bought at an average price of $4.42 per share, for a total transaction of $43,784.52.
• On Monday, October 19th, Bin Zhao bought 9,971 shares of Agora stock. The shares were bought at an average cost of $4.39 per share, for a total transaction of $43,772.69.
• On Thursday, October 22nd, Bin Zhao bought 8,989 shares of Agora stock. The shares were bought at an average cost of $4.40 per share, for a total transaction of $39,551.60.
• On Wednesday, October 21st, Bin Zhao purchased 9,513 shares of Agora stock. The shares were bought at an average price of $4.46 per share, with a total value of $42,427.98.
• On Tuesday, October 20th, Bin Zhao purchased 9,794 shares of Agora stock. The shares were bought at an average price of $4.36 per share, with a total value of $42,701.84.
• On Friday, October 16th, Bin Zhao purchased 8,800 shares of Agora stock. The stock was bought at an average cost of $4.43 per share, with a total value of $38,984.00.
• On Thursday, October 15th, Bin Zhao purchased 8,545 shares of Agora stock. The stock was bought at an average cost of $4.45 per share, with a total value of $38,025.25.
• On Monday, October 12th, Bin Zhao acquired 8,937 shares of Agora stock. The shares were bought at an average price of $4.11 per share, for a total transaction of $36,731.07.
• On Wednesday, October 14th, Bin Zhao acquired 9,757 shares of Agora stock. The shares were purchased at an average cost of $4.30 per share, for a total transaction of $41,955.10.
• On Tuesday, October 13th, Bin Zhao acquired 5,438 shares of Agora stock. The shares were purchased at an average cost of $4.20 per share, for a total transaction of $22,839.60.

Agora Stock Performance

NASDAQ API opened at $4.48 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 current ratio of 5.11 and a quick ratio of 5.11. The firm has a market cap of $391.19 million, a price-to-earnings ratio of 40.73 and a beta of 0.75. The company has a fifty day moving average price of $4.21 and a 200-day moving average price of $4.16.

Agora (NASDAQ:API - Get Free Report) last announced its earnings results on Thursday, August 13th. The company reported $0.02 EPS for the quarter, beating the consensus estimate of ($0.20) by $0.22. Agora had a net margin of 7.23% and a return on equity of 1.96%. The company had revenue of $40.42 million during the quarter, compared to the consensus estimate of $40.44 million. As a group, equities research analysts predict that Agora, Inc. Sponsored ADR will post 0.14 EPS for the current fiscal year.

Institutional Investors Weigh In On Agora

Several large investors have recently made changes to their positions in API. AXQ Capital LP purchased a new position in shares of Agora in the 2nd quarter worth about $55,000. Headlands Technologies LLC grew its position in Agora by 25.8% during 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. Finally, Public Employees Retirement System of Ohio purchased a new stake in Agora during the second quarter worth about $101,000. 40.40% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several research firms have commented on API. Wall Street Zen cut shares of Agora from a "buy" rating to a "hold" rating in a research report on Sunday, August 16th. Weiss Ratings upgraded Agora from a "hold (c-)" rating to a "hold (c)" rating in a research note on Friday, October 9th. Finally, Bank of America upped their target price on Agora from $6.60 to $6.80 and gave the company a "buy" rating in a report on Friday, August 14th. One investment analyst has rated the stock with a Buy rating and two have issued a Hold rating to the company. According to MarketBeat, Agora presently has a consensus rating of "Hold" and an average target price of $6.80.

About Agora

Agora, Inc NASDAQ: API is a technology company that provides real-time engagement software and infrastructure. Its platform enables developers and businesses to add voice, video, interactive live streaming, messaging, and other real-time communication features to websites and mobile applications.

The company offers software development kits and application programming interfaces for services such as real-time communications, interactive broadcasting, in-app chat, signaling, and related engagement tools.

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