Agora (NASDAQ:API) Stock: Insider Bin Zhao Buys 9,065 Shares

Key Points

• CEO Bin Zhao bought 9,065 Agora shares at an average of $4.11, investing approximately $37,257 and increasing his direct ownership by 0.44% to 2.08 million shares. He also made multiple additional purchases in late September and early October.
• Agora shares opened at $4.11, with a market capitalization of approximately $358.9 million and a 52-week range of $3.14 to $5.49. The company recently reported quarterly EPS of $0.02, beating estimates, while revenue of $40.42 million was roughly in line with expectations.
• Analyst sentiment remains cautious, with a consensus “Hold” rating and a $6.80 target price; Bank of America maintained a Buy rating and raised its target to $6.80.

Agora, Inc. Sponsored ADR (NASDAQ:API - Get Free Report) CEO Bin Zhao bought 9,065 shares of the company's stock in a transaction that occurred on Friday, October 2nd. The shares were bought at an average price of $4.11 per share, for a total transaction of $37,257.15. Following the transaction, the chief executive officer directly owned 2,080,411 shares in the company, valued at $8,550,489.21. This trade represents a 0.44% increase in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website.

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 bought at an average cost of $4.08 per share, for a total transaction of $21,628.08.
• On Thursday, October 8th, Bin Zhao purchased 9,956 shares of Agora stock. The stock was bought 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 cost of $4.13 per share, with a total value of $40,626.81.
• On Tuesday, October 6th, Bin Zhao acquired 9,773 shares of Agora stock. The shares were bought at an average price 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 shares were bought at an average cost of $4.18 per share, for a total transaction of $40,600.34.
• On Thursday, October 1st, Bin Zhao acquired 9,300 shares of Agora stock. The shares were bought at an average cost of $4.13 per share, for a total transaction of $38,409.00.
• On Wednesday, September 30th, Bin Zhao bought 9,633 shares of Agora stock. The stock was purchased at an average price of $4.18 per share, with a total value of $40,265.94.
• On Tuesday, September 29th, Bin Zhao bought 9,364 shares of Agora stock. The stock was purchased at an average cost of $4.15 per share, with a total value of $38,860.60.
• On Monday, September 28th, Bin Zhao bought 9,804 shares of Agora stock. The stock was purchased at an average cost of $4.14 per share, with a total value of $40,588.56.
• On Friday, September 25th, Bin Zhao purchased 9,525 shares of Agora stock. The shares were purchased at an average cost of $4.22 per share, for a total transaction of $40,195.50.

Agora Stock Up 0.7%

Shares of NASDAQ:API opened at $4.11 on Tuesday. The business's 50 day simple moving average is $4.22 and its two-hundred day simple moving average 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 debt-to-equity ratio of 0.18, a quick ratio of 5.11 and a current ratio of 5.11. Agora, Inc. Sponsored ADR has a 52-week low of $3.14 and a 52-week high of $5.49.

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 analysts' consensus estimates of ($0.20) by $0.22. The firm had revenue of $40.42 million during the quarter, compared to analysts' expectations of $40.44 million. Agora had a return on equity of 1.96% and a net margin of 7.23%. As a group, research analysts forecast that Agora, Inc. Sponsored ADR will post 0.14 EPS for the current fiscal year.

Analysts Set New Price Targets

API has been the subject of several research reports. Wall Street Zen downgraded shares of Agora from a "buy" rating to a "hold" rating in a research report on Sunday, August 16th. Weiss Ratings upgraded shares of Agora from a "hold (c-)" rating to a "hold (c)" rating in a research note on Friday. Finally, Bank of America upped their price objective on shares of Agora from $6.60 to $6.80 and gave the stock a "buy" rating in a report on Friday, August 14th. One research analyst has rated the stock with a Buy rating and two have assigned a Hold rating to the company's stock. Based on data from MarketBeat, Agora currently has a consensus rating of "Hold" and a consensus target price of $6.80.

Institutional Trading of Agora

A number of large investors have recently bought and sold shares of the company. AXQ Capital LP purchased a new stake in Agora in the 2nd quarter worth about $55,000. Headlands Technologies LLC raised its stake in Agora by 25.8% in the 2nd quarter. Headlands Technologies LLC now owns 48,795 shares of the company's stock valued at $195,000 after acquiring an additional 10,021 shares during the period. Finally, Public Employees Retirement System of Ohio bought a new stake in Agora in the 2nd quarter valued at about $101,000. 40.40% of the stock is owned by hedge funds and other institutional investors.

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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