Insider Buying: Agora (NASDAQ:API) CEO Purchases 5,301 Shares of Company Stock

Key Points

• Agora CEO Bin Zhao purchased 5,301 shares at an average price of $4.08, investing $21,628 and increasing his direct ownership to 2,124,991 shares.
• Zhao has made a series of additional purchases since September 25, spending roughly $400,000 across multiple transactions, signaling continued insider buying.
• Agora shares were trading near $4.11, while analysts maintained a consensus “Hold” rating with a $6.80 target price; the company recently exceeded quarterly EPS expectations.

Agora, Inc. Sponsored ADR (NASDAQ:API - Get Free Report) CEO Bin Zhao bought 5,301 shares of the company's stock in a transaction that occurred on Friday, October 9th. The stock was bought at an average cost of $4.08 per share, for a total transaction of $21,628.08. Following the completion of the transaction, the chief executive officer directly owned 2,124,991 shares in the company, valued at approximately $8,669,963.28. The trade was a 0.25% increase in their ownership of the stock. The purchase 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 8th, Bin Zhao purchased 9,956 shares of Agora stock. The shares were bought at an average price of $4.06 per share, for a total transaction of $40,421.36.
• On Wednesday, October 7th, Bin Zhao acquired 9,837 shares of Agora stock. The stock was bought at an average price 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 bought at an average price of $4.19 per share, with a total value of $40,948.87.
• On Monday, October 5th, Bin Zhao acquired 9,713 shares of Agora stock. The shares were purchased at an average cost of $4.18 per share, for a total transaction of $40,600.34.
• On Friday, October 2nd, Bin Zhao bought 9,065 shares of Agora stock. The shares were purchased at an average price 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 purchased at an average price of $4.13 per share, for a total transaction of $38,409.00.
• On Wednesday, September 30th, Bin Zhao bought 9,633 shares of Agora stock. The stock was purchased at an average cost 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, with a total value 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, with a total value 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 market capitalization of $358.89 million, a PE ratio of 37.37 and a beta of 0.75. Agora, Inc. Sponsored ADR has a 52-week low of $3.14 and a 52-week high of $5.49. The stock's 50 day moving average price is $4.22 and its 200 day moving average price is $4.07. The company has a quick ratio of 5.11, a current ratio of 5.11 and a debt-to-equity ratio of 0.18.

Agora (NASDAQ:API - Get Free Report) last issued its quarterly earnings data on Thursday, August 13th. The company reported $0.02 earnings per share for the quarter, beating 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 company had revenue of $40.42 million during the quarter, compared to analysts' expectations of $40.44 million. On average, research analysts anticipate that Agora, Inc. Sponsored ADR will post 0.14 EPS for the current year.

Hedge Funds Weigh In On Agora

Several institutional investors have recently added to or reduced their stakes in the stock. Headlands Technologies LLC increased its position in Agora by 25.8% in the 2nd 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. AXQ Capital LP acquired a new stake in Agora during the 2nd quarter worth approximately $55,000. Finally, Public Employees Retirement System of Ohio acquired a new stake in Agora during the 2nd quarter worth approximately $101,000. Institutional investors and hedge funds own 40.40% of the company's stock.

Wall Street Analyst Weigh In

A number of equities analysts have recently commented on API shares. Bank of America lifted their target price 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 upgraded shares of Agora from a "hold (c-)" rating to a "hold (c)" rating in a research note on Friday. Finally, Wall Street Zen downgraded shares of Agora from a "buy" rating to a "hold" rating in a research report on Sunday, August 16th. One research analyst has rated the stock with a Buy rating and two have issued a Hold rating to the company's stock. According to data from MarketBeat.com, the stock currently has an average rating of "Hold" and a consensus target price 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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