Insider Buying: Agora (NASDAQ:API) CEO Buys $40,195.50 in Stock

Key Points

• Agora CEO Bin Zhao purchased 9,525 shares at an average price of $4.22, investing $40,195.50 and increasing his position by 0.47% to 2.03 million shares. The filing follows a series of additional purchases by Zhao in late September and October.
• Agora shares opened at $4.11, with a market capitalization of approximately $358.9 million. The company recently reported quarterly EPS of $0.02, beating analysts’ consensus estimate of a $0.20 loss, while revenue of $40.42 million was roughly in line with expectations.
• Analyst sentiment remains cautious, with a consensus rating of “Hold” from three analysts, despite Bank of America raising its price target to $6.80 and maintaining a “Buy” rating.

Agora, Inc. Sponsored ADR (NASDAQ:API - Get Free Report) CEO Bin Zhao bought 9,525 shares of the company's stock in a transaction that occurred on Friday, September 25th. The stock was purchased at an average cost of $4.22 per share, for a total transaction of $40,195.50. Following the transaction, the chief executive officer owned 2,033,245 shares in the company, valued at $8,580,293.90. The trade was a 0.47% increase in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link.

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

• On Friday, October 9th, Bin Zhao purchased 5,301 shares of Agora stock. The shares were purchased at an average cost of $4.08 per share, with a total value of $21,628.08.
• On Thursday, October 8th, Bin Zhao purchased 9,956 shares of Agora stock. The shares were acquired at an average cost 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 shares were acquired 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 stock was acquired 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 stock was acquired at an average cost 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 stock was acquired at an average cost of $4.11 per share, for a total transaction of $37,257.15.
• On Thursday, October 1st, Bin Zhao bought 9,300 shares of Agora stock. The shares were acquired 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 shares were acquired 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 acquired at an average cost of $4.15 per share, with a total value of $38,860.60.
• On Monday, September 28th, Bin Zhao purchased 9,804 shares of Agora stock. The stock was acquired at an average price of $4.14 per share, for a total transaction of $40,588.56.

Agora Stock Up 0.7%

Shares of API stock opened at $4.11 on Tuesday. The firm's fifty day moving average price is $4.22 and its two-hundred day moving average price is $4.07. The company has a current ratio of 5.11, a quick ratio of 5.11 and a debt-to-equity ratio of 0.18. Agora, Inc. Sponsored ADR has a 1 year low of $3.14 and a 1 year high of $5.49. The firm has a market capitalization of $358.89 million, a P/E 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 EPS for the quarter, topping analysts' consensus estimates 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. On average, equities analysts predict that Agora, Inc. Sponsored ADR will post 0.14 EPS for the current fiscal year.

Analysts Set New Price Targets

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

Institutional Trading of Agora

Several institutional investors and hedge funds have recently bought and sold shares of the business. AXQ Capital LP acquired a new stake in shares of Agora in the second quarter valued at approximately $55,000. Public Employees Retirement System of Ohio bought a new position in shares of Agora during the 2nd quarter worth approximately $101,000. Finally, Headlands Technologies LLC boosted its stake in shares of Agora by 25.8% during the 2nd quarter. Headlands Technologies LLC now owns 48,795 shares of the company's stock worth $195,000 after acquiring an additional 10,021 shares during the period. Institutional investors own 40.40% of the company's stock.

About Agora

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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