Insider Buying: Agora (NASDAQ:API) CEO Buys 9,065 Shares of Company Stock

Agora, Inc. Sponsored ADR (NASDAQ:API) CEO Bin Zhao purchased 9,065 shares of the stock in a transaction dated Friday, October 2nd. The stock was acquired at an average cost of $4.11 per share, for a total transaction of $37,257.15. Following the transaction, the chief executive officer owned 2,080,411 shares of the company’s stock, valued at approximately $8,550,489.21. This trade represents a 0.44% increase in their ownership of the stock. The transaction 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, with a total value of $21,628.08.
• On Thursday, October 8th, Bin Zhao acquired 9,956 shares of Agora stock. The stock was acquired at an average cost 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 stock was acquired at an average price of $4.13 per share, with a total value 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, for a total transaction of $40,948.87.
• On Monday, October 5th, Bin Zhao bought 9,713 shares of Agora stock. The shares were acquired at an average cost of $4.18 per share, for a total transaction of $40,600.34.
• On Thursday, October 1st, Bin Zhao bought 9,300 shares of Agora stock. The shares were bought at an average price of $4.13 per share, for a total transaction of $38,409.00.
• On Wednesday, September 30th, Bin Zhao bought 9,633 shares of Agora stock. The shares were bought 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 stock was bought at an average cost 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 bought at an average price of $4.14 per share, with a total value of $40,588.56.
• On Friday, September 25th, Bin Zhao bought 9,525 shares of Agora stock. The shares were bought at an average cost of $4.22 per share, with a total value of $40,195.50.

Agora Trading Up 0.7%

Shares of Agora stock opened at $4.11 on Tuesday. The company’s 50-day moving average price is $4.22 and its 200-day moving average price is $4.07. The company has a current ratio of 5.11, a quick ratio of 5.11 and a debt-to-equity ratio of 0.18. Agora, Inc. Sponsored ADR has a 12-month low of $3.14 and a 12-month high of $5.49. The company has a market cap of $358.89 million, a price-to-earnings 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 EPS for the quarter, beating the consensus estimate of ($0.20) by $0.22. The company 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%. On average, equities analysts expect that Agora, Inc. Sponsored ADR will post 0.14 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Several institutional investors have recently modified their holdings of API. Headlands Technologies LLC raised its stake in Agora by 25.8% in 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. AXQ Capital LP bought a new stake in Agora during the second quarter valued at approximately $55,000. Finally, Public Employees Retirement System of Ohio bought a new stake in Agora during the second quarter valued at approximately $101,000. 40.40% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

A number of research analysts have recently commented on API shares. Weiss Ratings upgraded shares of Agora from a “hold (c-)” rating to a “hold (c)” rating in a research report on Friday. Bank of America upped their price target on shares of Agora from $6.60 to $6.80 and gave the stock a “buy” rating in a report on Friday, August 14th. Finally, Wall Street Zen downgraded Agora from a “buy” rating to a “hold” rating in a research report on Sunday, August 16th. One equities research analyst has rated the stock with a Buy rating and two have given a Hold rating to the company. Based on data from MarketBeat, Agora currently has an average 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.