Insider Buying: Agora (NASDAQ:API) CEO Buys $40,421.36 in Stock

Agora, Inc. Sponsored ADR (NASDAQ:API) CEO Bin Zhao purchased 9,956 shares of the business’s stock in a transaction on Thursday, October 8th. The stock was purchased at an average cost of $4.06 per share, for a total transaction of $40,421.36. Following the acquisition, the chief executive officer owned 2,119,690 shares in the company, valued at approximately $8,605,941.40. The trade was a 0.47% increase in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available 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 price of $4.08 per share, for a total transaction of $21,628.08.
• On Wednesday, October 7th, Bin Zhao acquired 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 Tuesday, October 6th, Bin Zhao acquired 9,773 shares of Agora stock. The shares were purchased 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 purchased at an average price 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 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 bought 9,300 shares of Agora stock. The stock was acquired 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 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 shares were acquired at an average price of $4.15 per share, for a total transaction of $38,860.60.
• On Monday, September 28th, Bin Zhao purchased 9,804 shares of Agora stock. The shares were acquired at an average cost of $4.14 per share, with a total value of $40,588.56.
• On Friday, September 25th, Bin Zhao purchased 9,525 shares of Agora stock. The shares were acquired at an average cost of $4.22 per share, with a total value of $40,195.50.

Agora Trading Up 0.7%

NASDAQ API opened at $4.11 on Tuesday. Agora, Inc. Sponsored ADR has a fifty-two week low of $3.14 and a fifty-two week high of $5.49. The company has a debt-to-equity ratio of 0.18, a quick ratio of 5.11 and a current ratio of 5.11. The stock has a 50 day simple moving average of $4.22 and a two-hundred day simple moving average of $4.07. The stock has a market cap of $358.89 million, a P/E ratio of 37.37 and a beta of 0.75.

Agora (NASDAQ:API) last issued its quarterly earnings data on Thursday, August 13th. The company reported $0.02 earnings per share for the quarter, topping analysts’ consensus estimates of ($0.20) by $0.22. Agora had a return on equity of 1.96% and a net margin of 7.23%. The firm had revenue of $40.42 million for the quarter, compared to analyst estimates of $40.44 million. On average, analysts forecast that Agora, Inc. Sponsored ADR will post 0.14 earnings per share for the current year.

Wall Street Analysts Forecast Growth

Several research firms recently weighed in on API. Bank of America lifted their price target on shares of Agora from $6.60 to $6.80 and gave the company a “buy” rating in a report on Friday, August 14th. Wall Street Zen downgraded shares of Agora from a “buy” rating to a “hold” rating in a research report on Sunday, August 16th. Finally, Weiss Ratings upgraded shares of Agora from a “hold (c-)” rating to a “hold (c)” rating in a report on Friday. One equities 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 company currently has an average rating of “Hold” and an average target price of $6.80.

Institutional Trading of Agora

Several institutional investors and hedge funds have recently bought and sold shares of the stock. AXQ Capital LP purchased a new position in shares of Agora in the 2nd quarter valued at approximately $55,000. Public Employees Retirement System of Ohio bought a new stake in shares of Agora during the second quarter valued at approximately $101,000. Finally, Headlands Technologies LLC boosted its position 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 purchasing an additional 10,021 shares in the last quarter. 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.