Insider Buying: Agora (NASDAQ:API) CEO Buys $40,948.87 in Stock

Agora, Inc. Sponsored ADR (NASDAQ:API) CEO Bin Zhao purchased 9,773 shares of the stock in a transaction dated Tuesday, October 6th. The shares were purchased at an average price of $4.19 per share, for a total transaction of $40,948.87. Following the completion of the transaction, the chief executive officer owned 2,099,897 shares in the company, valued at $8,798,568.43. This trade represents a 0.47% increase in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website.

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 purchased at an average cost 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 stock was purchased at an average price 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 shares were purchased at an average cost of $4.13 per share, with a total value of $40,626.81.
• On Monday, October 5th, Bin Zhao bought 9,713 shares of Agora stock. The shares were purchased at an average cost of $4.18 per share, with a total value of $40,600.34.
• On Friday, October 2nd, Bin Zhao bought 9,065 shares of Agora stock. The shares were purchased 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 purchased at an average cost of $4.13 per share, for a total transaction of $38,409.00.
• On Wednesday, September 30th, Bin Zhao purchased 9,633 shares of Agora stock. The stock was acquired at an average price of $4.18 per share, for a total transaction of $40,265.94.
• On Tuesday, September 29th, Bin Zhao purchased 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 cost of $4.14 per share, with a total value of $40,588.56.
• On Friday, September 25th, Bin Zhao acquired 9,525 shares of Agora stock. The shares were acquired at an average price of $4.22 per share, with a total value of $40,195.50.

Agora Stock Performance

NASDAQ:API opened at $4.11 on Tuesday. The company has a 50-day moving average of $4.22 and a 200-day moving average of $4.07. The firm has a market cap of $358.89 million, a price-to-earnings ratio of 37.37 and a beta of 0.75. 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 twelve month low of $3.14 and a twelve month high of $5.49.

Agora (NASDAQ:API) last released its earnings results 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 business had revenue of $40.42 million for the quarter, compared to the consensus estimate of $40.44 million. Analysts forecast that Agora, Inc. Sponsored ADR will post 0.14 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

Several research analysts have issued reports on the company. Wall Street Zen cut Agora from a “buy” rating to a “hold” rating in a report on Sunday, August 16th. Weiss Ratings raised Agora from a “hold (c-)” rating to a “hold (c)” rating in a research note on Friday. Finally, Bank of America lifted their target price on Agora from $6.60 to $6.80 and gave the stock a “buy” rating in a report on Friday, August 14th. One analyst has rated the stock with a Buy rating and two have assigned a Hold rating to the company. According to MarketBeat, the company presently has an average rating of “Hold” and a consensus price target of $6.80.

Hedge Funds Weigh In On Agora

Several institutional investors and hedge funds have recently added to or reduced their stakes in API. Headlands Technologies LLC lifted its holdings in shares of 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 purchasing an additional 10,021 shares in the last quarter. Public Employees Retirement System of Ohio acquired a new stake in shares of Agora in the second quarter worth $101,000. Finally, AXQ Capital LP acquired a new position in Agora during the second quarter valued at $55,000. 40.40% of the stock is currently owned by hedge funds and other institutional investors.

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.