Insider Buying: Agora (NASDAQ:API) CEO Buys $42,427.98 in Stock

Key Points

• Agora CEO Bin Zhao purchased 9,513 shares at an average price of $4.46, a $42,427.98 investment that increased his ownership by 0.44% to 2.20 million shares. The purchase was part of a series of insider buys during October.
• Agora shares fell 2.2% to $4.39, while the company had a market capitalization of approximately $383 million and traded between $3.14 and $5.49 over the past year.
• Analysts maintain a consensus “Hold” rating, with a $6.80 average price target; the company recently reported quarterly EPS of $0.02, beating estimates by $0.22, while revenue of $40.42 million was roughly in line with expectations.

Agora, Inc. Sponsored ADR (NASDAQ:API - Get Free Report) CEO Bin Zhao acquired 9,513 shares of the firm's stock in a transaction on Wednesday, October 21st. The stock was purchased at an average cost of $4.46 per share, with a total value of $42,427.98. Following the completion of the transaction, the chief executive officer owned 2,195,746 shares in the company, valued at $9,793,027.16. The trade was a 0.44% increase in their ownership of the stock. The acquisition was disclosed in a document filed with the SEC, which is available at this link.

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

• On Thursday, October 22nd, Bin Zhao bought 8,989 shares of Agora stock. The shares were acquired at an average price of $4.40 per share, with a total value of $39,551.60.
• On Tuesday, October 20th, Bin Zhao bought 9,794 shares of Agora stock. The shares were acquired at an average cost of $4.36 per share, for a total transaction of $42,701.84.
• On Friday, October 16th, Bin Zhao bought 8,800 shares of Agora stock. The shares were acquired at an average cost of $4.43 per share, for a total transaction of $38,984.00.
• On Thursday, October 15th, Bin Zhao purchased 8,545 shares of Agora stock. The stock was acquired at an average price of $4.45 per share, for a total transaction of $38,025.25.
• On Monday, October 12th, Bin Zhao purchased 8,937 shares of Agora stock. The stock was acquired at an average cost of $4.11 per share, with a total value of $36,731.07.
• On Wednesday, October 14th, Bin Zhao purchased 9,757 shares of Agora stock. The stock was acquired at an average cost of $4.30 per share, with a total value of $41,955.10.
• On Tuesday, October 13th, Bin Zhao acquired 5,438 shares of Agora stock. The shares were acquired at an average price of $4.20 per share, with a total value of $22,839.60.
• On Friday, October 9th, Bin Zhao acquired 5,301 shares of Agora stock. The shares were acquired at an average price of $4.08 per share, for a total transaction of $21,628.08.
• On Thursday, October 8th, Bin Zhao acquired 9,956 shares of Agora stock. The shares were acquired at an average price of $4.06 per share, for a total transaction of $40,421.36.
• On Wednesday, October 7th, Bin Zhao bought 9,837 shares of Agora stock. The stock was acquired at an average cost of $4.13 per share, for a total transaction of $40,626.81.

Agora Stock Down 2.2%

Shares of API traded down $0.10 during trading on Thursday, reaching $4.39. The company's stock had a trading volume of 118,163 shares, compared to its average volume of 139,069. The company has a market cap of $383.33 million, a price-to-earnings ratio of 39.91 and a beta of 0.75. 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 company has a fifty day moving average of $4.21 and a two-hundred day moving average of $4.12. Agora, Inc. Sponsored ADR has a twelve month low of $3.14 and a twelve month 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 earnings per share for the quarter, topping the consensus estimate of ($0.20) by $0.22. The company had revenue of $40.42 million during the quarter, compared to analyst estimates of $40.44 million. Agora had a net margin of 7.23% and a return on equity of 1.96%. On average, sell-side analysts predict that Agora, Inc. Sponsored ADR will post 0.14 EPS for the current fiscal year.

Institutional Investors Weigh In On Agora

A number of institutional investors have recently modified their holdings of the business. Public Employees Retirement System of Ohio acquired a new stake in Agora during the second quarter worth about $101,000. AXQ Capital LP bought a new position in Agora in the second quarter worth about $55,000. Finally, Headlands Technologies LLC boosted its stake 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 acquiring an additional 10,021 shares during the period. Institutional investors own 40.40% of the company's stock.

Analyst Upgrades and Downgrades

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

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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