Insider Buying: Agora (NASDAQ:API) CEO Acquires 8,966 Shares of Stock

Agora, Inc. Sponsored ADR (NASDAQ:API) CEO Bin Zhao acquired 8,966 shares of the company’s stock in a transaction dated Friday, November 6th. The shares were acquired at an average cost of $4.20 per share, with a total value of $37,657.20. Following the completion of the purchase, the chief executive officer owned 2,301,549 shares in the company, valued at approximately $9,666,505.80. This represents a 0.39% increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink.

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

• On Thursday, November 5th, Bin Zhao bought 9,699 shares of Agora stock. The stock was bought at an average cost of $4.33 per share, for a total transaction of $41,996.67.
• On Tuesday, November 3rd, Bin Zhao bought 10,000 shares of Agora stock. The shares were bought at an average price of $4.16 per share, for a total transaction of $41,600.00.
• On Monday, November 2nd, Bin Zhao bought 9,478 shares of Agora stock. The shares were bought at an average price of $4.37 per share, for a total transaction of $41,418.86.
• On Friday, October 30th, Bin Zhao purchased 9,095 shares of Agora stock. The shares were bought at an average cost of $4.38 per share, with a total value of $39,836.10.
• On Thursday, October 29th, Bin Zhao purchased 9,429 shares of Agora stock. The stock was bought at an average cost of $4.45 per share, with a total value of $41,959.05.
• On Wednesday, October 28th, Bin Zhao purchased 9,549 shares of Agora stock. The stock was bought at an average cost of $4.47 per share, with a total value of $42,684.03.
• On Tuesday, October 27th, Bin Zhao acquired 3,000 shares of Agora stock. The stock was bought at an average price of $4.47 per share, for a total transaction of $13,410.00.
• On Monday, October 26th, Bin Zhao acquired 7,692 shares of Agora stock. The shares were bought at an average cost of $4.47 per share, for a total transaction of $34,383.24.
• On Friday, October 23rd, Bin Zhao acquired 9,906 shares of Agora stock. The shares were bought at an average cost of $4.42 per share, for a total transaction of $43,784.52.
• On Monday, October 19th, Bin Zhao acquired 9,971 shares of Agora stock. The shares were bought at an average price of $4.39 per share, with a total value of $43,772.69.

Agora Stock Performance

Shares of API stock opened at $4.20 on Monday. The firm has a 50-day moving average price of $4.23 and a 200 day moving average price of $4.15. Agora, Inc. Sponsored ADR has a twelve month low of $3.14 and a twelve month high of $5.49. The company has a market capitalization of $366.74 million, a price-to-earnings ratio of 38.19 and a beta of 0.88. 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 (NASDAQ:API) last released its earnings results on Thursday, August 13th. The company reported $0.02 earnings per share (EPS) for the quarter, beating 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 company had revenue of $40.42 million for the quarter, compared to analyst estimates of $40.44 million. Research analysts forecast that Agora, Inc. Sponsored ADR will post 0.14 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Agora

Several hedge funds have recently modified their holdings of the stock. Allspring Global Investments Holdings LLC raised its stake in Agora by 1.0% during the third quarter. Allspring Global Investments Holdings LLC now owns 1,801,785 shares of the company’s stock worth $7,531,000 after purchasing an additional 18,000 shares during the period. Headlands Technologies LLC boosted its holdings in shares of 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 purchasing an additional 10,021 shares during the last quarter. Public Employees Retirement System of Ohio purchased a new position in shares of Agora in the 2nd quarter worth $101,000. Finally, AXQ Capital LP acquired a new position in Agora in the second quarter valued at $55,000. 40.40% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several research firms have commented on API. Weiss Ratings raised shares of Agora from a “hold (c-)” rating to a “hold (c)” rating in a research note on Friday, October 9th. Bank of America increased their price target on Agora from $6.60 to $6.80 and gave the stock a “buy” rating in a research note on Friday, August 14th. Finally, Wall Street Zen lowered Agora from a “buy” rating to a “hold” rating in a research note on Sunday, August 16th. One research analyst has rated the stock with a Buy rating and two have given a Hold rating to the company. Based on data from MarketBeat.com, the stock has an average rating of “Hold” and a consensus target price of $6.80.

About Agora

Agora, Inc (NASDAQ: API) is a technology company that provides real-time engagement software and infrastructure. Its platform enables developers and businesses to add voice, video, interactive live streaming, messaging, and other real-time communication features to websites and mobile applications.

The company offers software development kits and application programming interfaces for services such as real-time communications, interactive broadcasting, in-app chat, signaling, and related engagement tools.