Insider Buying: Agora (NASDAQ:API) CEO Acquires $39,817.44 in Stock

Key Points

• Agora CEO Bin Zhao purchased 9,217 shares at an average price of $4.32, spending $39,817.44 and increasing his direct stake by 0.46% to 2.02 million shares.
• Zhao has made multiple additional purchases in recent weeks, buying thousands of shares daily at prices generally between $4.06 and $4.19, signaling sustained insider buying.
• Agora shares opened at $4.11, while analysts maintain a consensus “Hold” rating and an average price target of $6.80; the company recently reported adjusted earnings of $0.02 per share, beating expectations.

Agora, Inc. Sponsored ADR (NASDAQ:API - Get Free Report) CEO Bin Zhao acquired 9,217 shares of the business's stock in a transaction dated Thursday, September 24th. The shares were bought at an average cost of $4.32 per share, for a total transaction of $39,817.44. Following the transaction, the chief executive officer directly owned 2,023,720 shares of the company's stock, valued at approximately $8,742,470.40. This trade represents a 0.46% increase in their position. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website.

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 purchased at an average price of $4.08 per share, with a total value of $21,628.08.
• On Thursday, October 8th, Bin Zhao bought 9,956 shares of Agora stock. The shares were purchased at an average price of $4.06 per share, with a total value of $40,421.36.
• On Wednesday, October 7th, Bin Zhao bought 9,837 shares of Agora stock. The shares were acquired 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 stock was acquired at an average cost of $4.19 per share, with a total value of $40,948.87.
• On Monday, October 5th, Bin Zhao bought 9,713 shares of Agora stock. The stock was purchased at an average cost of $4.18 per share, with a total value of $40,600.34.
• On Friday, October 2nd, Bin Zhao purchased 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.
• 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, for a total transaction of $38,409.00.
• On Wednesday, September 30th, Bin Zhao acquired 9,633 shares of Agora stock. The stock was purchased at an average cost of $4.18 per share, for a total transaction of $40,265.94.
• On Tuesday, September 29th, Bin Zhao purchased 9,364 shares of Agora stock. The shares were 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 shares were acquired at an average cost of $4.14 per share, with a total value of $40,588.56.

Agora Stock Up 0.7%

Agora stock opened at $4.11 on Tuesday. 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 company has a market cap of $358.89 million, a PE ratio of 37.37 and a beta of 0.75. The stock's 50 day moving average price is $4.22 and its 200 day moving average price is $4.07.

Agora (NASDAQ:API - Get Free Report) last released its quarterly earnings data on Thursday, August 13th. The company reported $0.02 earnings per share (EPS) for the quarter, topping the consensus estimate 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%. On average, sell-side analysts predict that Agora, Inc. Sponsored ADR will post 0.14 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

API has been the subject of several recent analyst reports. Weiss Ratings upgraded shares of Agora from a "hold (c-)" rating to a "hold (c)" rating in a research note on Friday. Bank of America boosted 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. Finally, Wall Street Zen lowered shares of Agora from a "buy" rating to a "hold" rating in a research report on Sunday, August 16th. One analyst has rated the stock with a Buy rating and two have given a Hold rating to the stock. Based on data from MarketBeat, the stock presently has an average rating of "Hold" and a consensus price target of $6.80.

Hedge Funds Weigh In On Agora

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

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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