Agora (NASDAQ:API) Stock: Insider Bin Zhao Buys 9,956 Shares

Key Points

• CEO Bin Zhao bought 9,956 Agora shares at an average price of $4.06, investing $40,421 and increasing his direct ownership to 2.12 million shares. The purchase was part of a series of insider buys dating back to September 25.
• Agora shares opened at $4.11, with the company valued at approximately $358.9 million. The stock has traded between $3.14 and $5.49 over the past year.
• Analysts maintain a consensus “Hold” rating with a $6.80 target price, while Agora recently exceeded quarterly EPS expectations by $0.22 and reported $40.42 million in revenue.

Agora, Inc. Sponsored ADR (NASDAQ:API - Get Free Report) CEO Bin Zhao bought 9,956 shares of the stock in a transaction that occurred on Thursday, October 8th. The stock was bought at an average cost of $4.06 per share, for a total transaction of $40,421.36. Following the completion of the purchase, the chief executive officer directly owned 2,119,690 shares of the company's stock, valued at $8,605,941.40. This represents a 0.47% increase in their ownership of the stock. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through 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 bought at an average cost of $4.08 per share, with a total value of $21,628.08.
• 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, for a total transaction 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 price of $4.18 per share, for a total transaction of $40,600.34.
• On Friday, October 2nd, Bin Zhao acquired 9,065 shares of Agora stock. The shares were bought at an average cost of $4.11 per share, with a total value of $37,257.15.
• On Thursday, October 1st, Bin Zhao bought 9,300 shares of Agora stock. The stock was bought at an average price of $4.13 per share, with a total value of $38,409.00.
• On Wednesday, September 30th, Bin Zhao bought 9,633 shares of Agora stock. The stock was bought 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, for a total transaction 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, for a total transaction of $40,588.56.
• On Friday, September 25th, Bin Zhao purchased 9,525 shares of Agora stock. The shares were purchased at an average price of $4.22 per share, for a total transaction of $40,195.50.

Agora Trading Up 0.7%

NASDAQ API opened at $4.11 on Tuesday. The company has a quick ratio of 5.11, a current ratio of 5.11 and a debt-to-equity ratio of 0.18. The stock's 50-day simple moving average is $4.22 and its two-hundred day simple moving average is $4.07. Agora, Inc. Sponsored ADR has a twelve month low of $3.14 and a twelve month high of $5.49. The company 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 posted its quarterly earnings data on Thursday, August 13th. The company reported $0.02 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of ($0.20) by $0.22. Agora had a return on equity of 1.96% and a net margin of 7.23%. The firm had revenue of $40.42 million during the quarter, compared to analysts' expectations of $40.44 million. Research analysts forecast that Agora, Inc. Sponsored ADR will post 0.14 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

A number of equities analysts recently commented on the stock. Wall Street Zen cut shares of Agora from a "buy" rating to a "hold" rating in a research report on Sunday, August 16th. Bank of America upped their price target on shares of Agora from $6.60 to $6.80 and gave the company a "buy" rating in a research report on Friday, August 14th. Finally, Weiss Ratings upgraded shares of Agora from a "hold (c-)" rating to a "hold (c)" rating in a research report on Friday. One equities research analyst has rated the stock with a Buy rating and two have assigned a Hold rating to the company. According to data from MarketBeat.com, the stock has an average rating of "Hold" and a consensus target price of $6.80.

Hedge Funds Weigh In On Agora

Several institutional investors and hedge funds have recently bought and sold shares of the stock. Public Employees Retirement System of Ohio purchased a new position in Agora in the 2nd quarter worth approximately $101,000. AXQ Capital LP bought a new stake in Agora in the second quarter valued at approximately $55,000. Finally, Headlands Technologies LLC boosted its stake in shares of 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 purchasing an additional 10,021 shares during the period. 40.40% of the stock is currently owned by 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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