Insider Buying: Agora (NASDAQ:API) CEO Purchases 6,000 Shares of Stock

Key Points

• Agora CEO Bin Zhao bought 6,000 shares at an average price of $4.03, spending $24,180. Following the transaction, he directly owned 1,987,298 shares valued at roughly $8.0 million.
• Zhao has made a series of additional Agora purchases in recent weeks, buying thousands of shares per day at prices generally between $4.06 and $4.19.
• Agora shares opened at $4.11, while analysts maintain a consensus “Hold” rating and a $6.80 price target. The company recently reported quarterly EPS of $0.02, beating the $0.20 loss expected by analysts.

Agora, Inc. Sponsored ADR (NASDAQ:API - Get Free Report) CEO Bin Zhao purchased 6,000 shares of the firm's stock in a transaction on Friday, September 18th. The stock was bought at an average cost of $4.03 per share, for a total transaction of $24,180.00. Following the completion of the purchase, the chief executive officer directly owned 1,987,298 shares in the company, valued at approximately $8,008,810.94. This trade represents a 0.30% increase in their ownership of the stock. The purchase was disclosed in a document filed with the SEC, which is available through this hyperlink.

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

• On Friday, October 9th, Bin Zhao acquired 5,301 shares of Agora stock. The stock was bought at an average price of $4.08 per share, with a total value of $21,628.08.
• On Thursday, October 8th, Bin Zhao acquired 9,956 shares of Agora stock. The shares were bought at an average cost 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 stock was purchased at an average price of $4.13 per share, for a total transaction of $40,626.81.
• On Tuesday, October 6th, Bin Zhao bought 9,773 shares of Agora stock. The stock was purchased at an average price of $4.19 per share, for a total transaction 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, for a total transaction of $40,600.34.
• On Friday, October 2nd, Bin Zhao purchased 9,065 shares of Agora stock. The shares were purchased at an average price of $4.11 per share, with a total value of $37,257.15.
• On Thursday, October 1st, Bin Zhao purchased 9,300 shares of Agora stock. The shares were purchased at an average price of $4.13 per share, with a total value of $38,409.00.
• On Wednesday, September 30th, Bin Zhao purchased 9,633 shares of Agora stock. The shares were purchased at an average cost of $4.18 per share, with a total value 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 purchased 9,804 shares of Agora stock. The stock was purchased at an average cost of $4.14 per share, for a total transaction of $40,588.56.

Agora Price Performance

Shares of Agora stock opened at $4.11 on Tuesday. The company's fifty day simple moving average is $4.22 and its two-hundred day simple moving average is $4.07. Agora, Inc. Sponsored ADR has a 12-month low of $3.14 and a 12-month high of $5.49. The firm has a market cap of $358.89 million, a PE ratio of 37.37 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.

Agora (NASDAQ:API - Get Free Report) last issued its quarterly earnings data on Thursday, August 13th. The company reported $0.02 EPS for the quarter, beating the consensus estimate of ($0.20) by $0.22. The firm had revenue of $40.42 million during the quarter, compared to the consensus estimate of $40.44 million. Agora had a net margin of 7.23% and a return on equity of 1.96%. As a group, equities analysts expect that Agora, Inc. Sponsored ADR will post 0.14 EPS for the current year.

Analyst Upgrades and Downgrades

A number of research firms have commented on API. Wall Street Zen lowered Agora from a "buy" rating to a "hold" rating in a research report on Sunday, August 16th. Weiss Ratings upgraded Agora from a "hold (c-)" rating to a "hold (c)" rating in a research report on Friday. Finally, Bank of America boosted their target price on Agora from $6.60 to $6.80 and gave the company a "buy" rating in a research note on Friday, August 14th. One equities research analyst has rated the stock with a Buy rating and two have issued a Hold rating to the company. According to MarketBeat.com, the stock has a consensus rating of "Hold" and a consensus price target of $6.80.

Institutional Investors Weigh In On Agora

Several institutional investors and hedge funds have recently modified their holdings of the stock. AXQ Capital LP purchased a new position in shares of Agora during the second quarter valued at about $55,000. Public Employees Retirement System of Ohio purchased a new stake in Agora in the second quarter worth about $101,000. Finally, Headlands Technologies LLC lifted its holdings in Agora by 25.8% in the second quarter. Headlands Technologies LLC now owns 48,795 shares of the company's stock worth $195,000 after buying an additional 10,021 shares during the period. 40.40% of the stock is owned by hedge funds and other institutional investors.

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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