Insider Buying: Agora (NASDAQ:API) CEO Acquires 9,260 Shares of Company Stock

Key Points

• Agora CEO Bin Zhao bought 9,260 shares at an average $4.30, spending about $39,818; after the purchase, he owned 2,320,273 shares. The article also reports multiple additional purchases by Zhao in late October and November.
• Agora reported quarterly EPS of $0.02, beating analysts’ estimate of a $0.20 loss, while revenue of $40.42 million was roughly in line with expectations.
• Analysts’ average rating is Hold, with an average price target of $6.80. Shares opened at $4.32, and the company’s market capitalization was about $377 million.

Agora, Inc. Sponsored ADR (NASDAQ:API - Get Free Report) CEO Bin Zhao bought 9,260 shares of the stock in a transaction that occurred on Tuesday, November 10th. The shares were purchased at an average price of $4.30 per share, for a total transaction of $39,818.00. Following the purchase, the chief executive officer owned 2,320,273 shares in the company, valued at $9,977,173.90. This represents a 0.40% increase in their position. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available at this link.

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

• On Wednesday, November 11th, Bin Zhao purchased 8,420 shares of Agora stock. The stock was acquired at an average price of $4.33 per share, with a total value of $36,458.60.
• On Monday, November 9th, Bin Zhao purchased 9,464 shares of Agora stock. The shares were acquired at an average cost of $4.29 per share, for a total transaction of $40,600.56.
• On Friday, November 6th, Bin Zhao acquired 8,966 shares of Agora stock. The stock was acquired at an average price of $4.20 per share, for a total transaction of $37,657.20.
• On Thursday, November 5th, Bin Zhao acquired 9,699 shares of Agora stock. The stock was acquired at an average cost of $4.33 per share, with a total value of $41,996.67.
• On Tuesday, November 3rd, Bin Zhao bought 10,000 shares of Agora stock. The shares were acquired at an average price of $4.16 per share, with a total value of $41,600.00.
• On Monday, November 2nd, Bin Zhao purchased 9,478 shares of Agora stock. The stock was acquired at an average cost of $4.37 per share, for a total transaction of $41,418.86.
• On Friday, October 30th, Bin Zhao purchased 9,095 shares of Agora stock. The stock was acquired at an average cost of $4.38 per share, for a total transaction of $39,836.10.
• On Thursday, October 29th, Bin Zhao purchased 9,429 shares of Agora stock. The stock was acquired at an average price of $4.45 per share, with a total value of $41,959.05.
• On Wednesday, October 28th, Bin Zhao acquired 9,549 shares of Agora stock. The shares were bought at an average cost of $4.47 per share, with a total value of $42,684.03.
• On Tuesday, October 27th, Bin Zhao bought 3,000 shares of Agora stock. The shares were bought at an average cost of $4.47 per share, with a total value of $13,410.00.

Agora Stock Performance

Shares of NASDAQ API opened at $4.32 on Thursday. The company has a market cap of $377.22 million, a P/E ratio of 39.28 and a beta of 0.88. Agora, Inc. Sponsored ADR has a 52-week low of $3.14 and a 52-week high of $5.49. The company has a debt-to-equity ratio of 0.18, a quick ratio of 5.11 and a current ratio of 5.11. The firm's fifty day moving average is $4.24 and its two-hundred day moving average is $4.15.

Agora (NASDAQ:API - Get Free Report) last issued its earnings results 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. Agora had a return on equity of 1.96% and a net margin of 7.23%. The firm had revenue of $40.42 million for the quarter, compared to analysts' expectations of $40.44 million. As a group, analysts anticipate that Agora, Inc. Sponsored ADR will post 0.14 EPS for the current fiscal year.

Institutional Investors Weigh In On Agora

Several institutional investors have recently made changes to their positions in API. Allspring Global Investments Holdings LLC raised its position in Agora by 1.0% in the 3rd quarter. Allspring Global Investments Holdings LLC now owns 1,801,785 shares of the company's stock worth $7,531,000 after purchasing an additional 18,000 shares during the period. AXQ Capital LP bought a new position in shares of Agora during the second quarter valued at approximately $55,000. Headlands Technologies LLC grew 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 buying an additional 10,021 shares during the last quarter. Finally, Public Employees Retirement System of Ohio bought a new stake in shares of Agora during the 2nd quarter worth approximately $101,000. Institutional investors own 40.40% of the company's stock.

Analysts Set New Price Targets

A number of research analysts recently commented on API shares. Bank of America increased their price target on shares of Agora from $6.60 to $6.80 and gave the company a "buy" rating in a report on Friday, August 14th. Weiss Ratings raised Agora from a "hold (c-)" rating to a "hold (c)" rating in a research note on Friday, October 9th. Finally, Wall Street Zen cut Agora from a "buy" rating to a "hold" rating in a report on Sunday, August 16th. One investment analyst has rated the stock with a Buy rating and two have given a Hold rating to the company. Based on data from MarketBeat, the company currently has an average rating of "Hold" and an average price target of $6.80.

About Agora

Agora, Inc. provides cloud software and developer tools for real-time engagement. Its platform offers application programming interfaces and software development kits that let businesses add voice and video communication, interactive live streaming, messaging and signaling to their applications. The company serves developers and organizations across a range of industries and markets worldwide. Its products are designed to support interactive experiences such as in-app calls, online events and real-time collaboration.

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