Insider Buying: Agora (NASDAQ:API) CEO Purchases 8,545 Shares of Company Stock

Agora, Inc. Sponsored ADR (NASDAQ:API) CEO Bin Zhao purchased 8,545 shares of the stock in a transaction on Thursday, October 15th. The shares were acquired at an average cost of $4.45 per share, for a total transaction of $38,025.25. Following the transaction, the chief executive officer owned 2,157,668 shares of the company’s stock, valued at approximately $9,601,622.60. The trade was a 0.40% increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link.

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

• On Friday, October 16th, Bin Zhao acquired 8,800 shares of Agora stock. The stock was acquired at an average cost of $4.43 per share, with a total value of $38,984.00.
• On Monday, October 12th, Bin Zhao bought 8,937 shares of Agora stock. The shares were acquired at an average price of $4.11 per share, with a total value of $36,731.07.
• On Wednesday, October 14th, Bin Zhao bought 9,757 shares of Agora stock. The shares were acquired at an average price of $4.30 per share, with a total value of $41,955.10.
• On Tuesday, October 13th, Bin Zhao bought 5,438 shares of Agora stock. The shares were acquired at an average cost of $4.20 per share, for a total transaction of $22,839.60.
• On Friday, October 9th, Bin Zhao purchased 5,301 shares of Agora stock. The stock was acquired at an average price of $4.08 per share, for a total transaction of $21,628.08.
• On Thursday, October 8th, Bin Zhao purchased 9,956 shares of Agora stock. The stock was acquired at an average price of $4.06 per share, for a total transaction 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 purchased 9,773 shares of Agora stock. The shares were acquired at an average cost 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 bought at an average cost of $4.18 per share, with a total value of $40,600.34.
• On Friday, October 2nd, Bin Zhao acquired 9,065 shares of Agora stock. The stock was bought at an average price of $4.11 per share, for a total transaction of $37,257.15.

Agora Price Performance

Shares of API opened at $4.35 on Monday. The company’s 50-day moving average is $4.23 and its 200-day moving average is $4.09. The company has a debt-to-equity ratio of 0.18, a current ratio of 5.11 and a quick ratio of 5.11. The firm has a market capitalization of $379.84 million, a PE ratio of 39.55 and a beta of 0.75. Agora, Inc. Sponsored ADR has a fifty-two week low of $3.14 and a fifty-two week high of $5.49.

Agora (NASDAQ:API) last announced its earnings results on Thursday, August 13th. The company reported $0.02 EPS for the quarter, topping the consensus estimate 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 during the quarter, compared to the consensus estimate of $40.44 million. Equities analysts forecast that Agora, Inc. Sponsored ADR will post 0.14 EPS for the current year.

Institutional Investors Weigh In On Agora

A number of hedge funds and other institutional investors have recently made changes to their positions in the business. AXQ Capital LP bought a new stake in shares of Agora in the second quarter valued at approximately $55,000. Public Employees Retirement System of Ohio acquired a new stake in Agora during the second quarter worth approximately $101,000. Finally, Headlands Technologies LLC increased its stake in 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. 40.40% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of equities analysts have recently weighed in on API shares. Bank of America increased their target price on Agora from $6.60 to $6.80 and gave the stock a “buy” rating in a research note on Friday, August 14th. Wall Street Zen downgraded Agora from a “buy” rating to a “hold” rating in a research note on Sunday, August 16th. Finally, Weiss Ratings raised Agora from a “hold (c-)” rating to a “hold (c)” rating in a report on Friday, October 9th. 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 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.