Insider Buying: Agora (NASDAQ:API) CEO Buys 6,000 Shares of Stock

Agora, Inc. Sponsored ADR (NASDAQ:API) CEO Bin Zhao purchased 6,000 shares of the stock in a transaction dated Friday, September 18th. The stock was bought at an average cost of $4.03 per share, with a total value of $24,180.00. Following the transaction, the chief executive officer owned 1,987,298 shares in the company, valued at $8,008,810.94. The trade was a 0.30% increase in their ownership of the stock. The transaction was disclosed in a document filed 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 acquired at an average price of $4.08 per share, with a total value of $21,628.08.
• On Thursday, October 8th, Bin Zhao acquired 9,956 shares of Agora stock. The shares were bought at an average cost 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 bought at an average price 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 stock was purchased at an average price of $4.19 per share, for a total transaction of $40,948.87.
• On Monday, October 5th, Bin Zhao acquired 9,713 shares of Agora stock. The stock was purchased 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 shares were purchased at an average price of $4.11 per share, with a total value of $37,257.15.
• On Thursday, October 1st, Bin Zhao acquired 9,300 shares of Agora stock. The shares were purchased at an average price of $4.13 per share, with a total value of $38,409.00.
• On Wednesday, September 30th, Bin Zhao bought 9,633 shares of Agora stock. The stock was purchased at an average cost of $4.18 per share, for a total transaction of $40,265.94.
• On Tuesday, September 29th, Bin Zhao bought 9,364 shares of Agora stock. The stock was purchased at an average cost of $4.15 per share, for a total transaction of $38,860.60.
• On Monday, September 28th, Bin Zhao acquired 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.

Agora Trading Up 0.7%

NASDAQ:API opened at $4.11 on Tuesday. Agora, Inc. Sponsored ADR has a one year low of $3.14 and a one year high of $5.49. The business has a fifty day moving average price of $4.22 and a 200-day moving average price of $4.07. The firm has a market capitalization of $358.89 million, a price-to-earnings ratio of 37.37 and a beta of 0.75. The company has a debt-to-equity ratio of 0.18, a current ratio of 5.11 and a quick ratio of 5.11.

Agora (NASDAQ:API) last released its earnings results on Thursday, August 13th. The company reported $0.02 earnings per share for the quarter, beating the consensus estimate of ($0.20) by $0.22. The company 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%. Sell-side analysts forecast that Agora, Inc. Sponsored ADR will post 0.14 EPS for the current year.

Hedge Funds Weigh In On Agora

A number of hedge funds have recently made changes to their positions in API. AXQ Capital LP purchased a new position in Agora in the 2nd quarter worth approximately $55,000. Public Employees Retirement System of Ohio bought a new position in Agora in the 2nd quarter worth approximately $101,000. Finally, Headlands Technologies LLC grew its holdings in Agora by 25.8% during the 2nd quarter. Headlands Technologies LLC now owns 48,795 shares of the company’s stock valued at $195,000 after buying an additional 10,021 shares in the last quarter. Institutional investors own 40.40% of the company’s stock.

Analyst Upgrades and Downgrades

Several research firms have recently commented on API. Wall Street Zen downgraded Agora from a “buy” rating to a “hold” rating in a research note on Sunday, August 16th. Weiss Ratings upgraded Agora from a “hold (c-)” rating to a “hold (c)” rating in a research note on Friday. Finally, Bank of America increased their target price on shares of 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’s stock. Based on data from MarketBeat, the company presently has a consensus rating of “Hold” and an average price target 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.