Insider Buying: Agora (NASDAQ:API) CEO Acquires $37,079.98 in Stock

Agora, Inc. Sponsored ADR (NASDAQ:API) CEO Bin Zhao purchased 9,133 shares of the business’s stock in a transaction that occurred on Thursday, September 17th. The stock was acquired at an average price of $4.06 per share, for a total transaction of $37,079.98. Following the acquisition, the chief executive officer owned 1,981,298 shares in the company, valued at $8,044,069.88. This trade represents a 0.46% increase in their position. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink.

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

• On Friday, October 9th, Bin Zhao purchased 5,301 shares of Agora stock. The shares were acquired at an average cost 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 acquired at an average price of $4.06 per share, with a total value of $40,421.36.
• On Wednesday, October 7th, Bin Zhao acquired 9,837 shares of Agora stock. The shares were acquired at an average price 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 stock was acquired at an average cost 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 acquired at an average cost of $4.18 per share, for a total transaction of $40,600.34.
• On Friday, October 2nd, Bin Zhao acquired 9,065 shares of Agora stock. The stock was acquired at an average price 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 shares were acquired at an average cost 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 shares were acquired at an average price of $4.18 per share, with a total value of $40,265.94.
• On Tuesday, September 29th, Bin Zhao bought 9,364 shares of Agora stock. The shares were acquired at an average price of $4.15 per share, with a total value of $38,860.60.
• On Monday, September 28th, Bin Zhao purchased 9,804 shares of Agora stock. The stock was acquired at an average cost of $4.14 per share, for a total transaction of $40,588.56.

Agora Price Performance

Shares of API opened at $4.11 on Tuesday. The company has a market capitalization of $358.89 million, a P/E ratio of 37.37 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. The business’s 50-day moving average is $4.22 and its two-hundred day moving average is $4.07. The company has a debt-to-equity ratio of 0.18, a quick ratio of 5.11 and a current ratio of 5.11.

Agora (NASDAQ:API) last posted its earnings results on Thursday, August 13th. The company reported $0.02 earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.20) by $0.22. The firm had revenue of $40.42 million during the quarter, compared to analysts’ expectations of $40.44 million. Agora had a net margin of 7.23% and a return on equity of 1.96%. Research analysts predict that Agora, Inc. Sponsored ADR will post 0.14 earnings per share for the current year.

Wall Street Analyst Weigh In

API has been the topic of several research analyst reports. Bank of America raised their price objective on 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 Agora from a “buy” rating to a “hold” rating in a research note on Sunday, August 16th. Finally, Weiss Ratings upgraded Agora from a “hold (c-)” rating to a “hold (c)” rating in a research report on Friday. One equities research analyst has rated the stock with a Buy rating and two have given a Hold rating to the stock. Based on data from MarketBeat, Agora presently has an average rating of “Hold” and an average price target of $6.80.

Institutional Trading of Agora

A number of institutional investors and hedge funds have recently modified their holdings of the stock. Headlands Technologies LLC increased its stake in shares of Agora by 25.8% during the second quarter. Headlands Technologies LLC now owns 48,795 shares of the company’s stock worth $195,000 after purchasing an additional 10,021 shares in the last quarter. Public Employees Retirement System of Ohio acquired a new position in shares of Agora during the 2nd quarter worth about $101,000. Finally, AXQ Capital LP purchased a new position in Agora in the 2nd quarter valued at about $55,000. Hedge funds and other institutional investors own 40.40% of the company’s stock.

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.