Insider Buying: Agora (NASDAQ:API) CEO Acquires $40,195.50 in Stock

Agora, Inc. Sponsored ADR (NASDAQ:API) CEO Bin Zhao acquired 9,525 shares of the business’s stock in a transaction that occurred on Friday, September 25th. The shares were acquired at an average cost of $4.22 per share, with a total value of $40,195.50. Following the completion of the transaction, the chief executive officer directly owned 2,033,245 shares in the company, valued at approximately $8,580,293.90. The trade was a 0.47% increase in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website.

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

• On Monday, October 12th, Bin Zhao acquired 8,937 shares of Agora stock. The stock was bought at an average price of $4.11 per share, for a total transaction of $36,731.07.
• On Wednesday, October 14th, Bin Zhao acquired 9,757 shares of Agora stock. The stock was bought at an average price of $4.30 per share, for a total transaction of $41,955.10.
• On Tuesday, October 13th, Bin Zhao bought 5,438 shares of Agora stock. The stock was bought at an average cost of $4.20 per share, for a total transaction of $22,839.60.
• On Friday, October 9th, Bin Zhao bought 5,301 shares of Agora stock. The stock was bought at an average cost of $4.08 per share, for a total transaction of $21,628.08.
• On Thursday, October 8th, Bin Zhao bought 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 cost 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 shares were bought at an average price of $4.19 per share, with a total value of $40,948.87.
• On Monday, October 5th, Bin Zhao purchased 9,713 shares of Agora stock. The shares were bought 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 bought 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 stock was bought at an average cost of $4.13 per share, for a total transaction of $38,409.00.

Agora Stock Performance

Shares of API stock opened at $4.50 on Friday. The firm’s 50 day moving average price is $4.23 and its 200-day moving average price is $4.09. 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, Inc. Sponsored ADR has a one year low of $3.14 and a one year high of $5.49. The firm has a market cap of $392.94 million, a P/E ratio of 40.91 and a beta of 0.75.

Agora (NASDAQ:API) last posted 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 net margin of 7.23% and a return on equity of 1.96%. The firm had revenue of $40.42 million during the quarter, compared to analysts’ expectations of $40.44 million. As a group, equities research analysts predict that Agora, Inc. Sponsored ADR will post 0.14 EPS for the current year.

Institutional Inflows and Outflows

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

Wall Street Analysts Forecast Growth

A number of research analysts have commented on the company. Bank of America upped 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. Wall Street Zen cut Agora from a “buy” rating to a “hold” rating in a research note on Sunday, August 16th. Finally, Weiss Ratings raised Agora from a “hold (c-)” rating to a “hold (c)” rating in a research note on Friday, October 9th. One investment analyst has rated the stock with a Buy rating and two have assigned a Hold rating to the stock. According to MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average price target of $6.80.

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.