Insider Buying: Agora (NASDAQ:API) CEO Buys $42,581.22 in Stock

Agora, Inc. Sponsored ADR (NASDAQ:API) CEO Bin Zhao acquired 9,834 shares of the firm’s stock in a transaction on Wednesday, September 23rd. The shares were acquired at an average price of $4.33 per share, with a total value of $42,581.22. Following the completion of the purchase, the chief executive officer owned 2,014,503 shares in the company, valued at approximately $8,722,797.99. This trade represents a 0.49% increase in their position. 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 Friday, October 9th, Bin Zhao acquired 5,301 shares of Agora stock. The stock was acquired 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 acquired 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 acquired 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 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 bought 9,713 shares of Agora stock. The shares were acquired at an average price of $4.18 per share, with a total value of $40,600.34.
• On Friday, October 2nd, Bin Zhao purchased 9,065 shares of Agora stock. The stock was acquired at an average cost of $4.11 per share, for a total transaction of $37,257.15.
• On Thursday, October 1st, Bin Zhao purchased 9,300 shares of Agora stock. The shares were bought 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 shares were bought at an average cost of $4.18 per share, for a total transaction of $40,265.94.
• On Tuesday, September 29th, Bin Zhao acquired 9,364 shares of Agora stock. The shares were bought at an average price of $4.15 per share, with a total value of $38,860.60.
• On Monday, September 28th, Bin Zhao acquired 9,804 shares of Agora stock. The stock was bought at an average cost of $4.14 per share, with a total value of $40,588.56.

Agora Stock Performance

Shares of API stock opened at $4.11 on Tuesday. The stock has a market cap of $358.89 million, a PE ratio of 37.37 and a beta of 0.75. The business has a 50-day simple moving average of $4.22 and a 200-day simple moving average of $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, Inc. Sponsored ADR has a 52-week low of $3.14 and a 52-week high of $5.49.

Agora (NASDAQ:API) last issued 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. The firm had revenue of $40.42 million for the quarter, compared to the consensus estimate of $40.44 million. Agora had a return on equity of 1.96% and a net margin of 7.23%. On average, equities analysts expect that Agora, Inc. Sponsored ADR will post 0.14 EPS for the current year.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently bought and sold shares of the stock. AXQ Capital LP acquired a new stake in Agora in the 2nd quarter worth about $55,000. Public Employees Retirement System of Ohio purchased a new stake in Agora during the 2nd quarter worth approximately $101,000. Finally, Headlands Technologies LLC raised its holdings in shares of Agora by 25.8% during the second 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 last quarter. 40.40% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several equities research analysts have commented on API shares. Weiss Ratings upgraded Agora from a “hold (c-)” rating to a “hold (c)” rating in a research report on Friday. Bank of America raised their price objective on shares of 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 shares of Agora from a “buy” rating to a “hold” rating in a report on Sunday, August 16th. One analyst has rated the stock with a Buy rating and two have issued a Hold rating to the company’s stock. According to MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus target price of $6.80.

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.