Insider Buying: Agora (NASDAQ:API) CEO Purchases 9,260 Shares of Stock

Agora, Inc. Sponsored ADR (NASDAQ:API) CEO Bin Zhao purchased 9,260 shares of Agora stock in a transaction that occurred on Tuesday, November 10th. The stock was bought at an average cost of $4.30 per share, for a total transaction of $39,818.00. Following the purchase, the chief executive officer directly owned 2,320,273 shares in the company, valued at $9,977,173.90. This trade represents a 0.40% increase in their ownership of the stock. The purchase was disclosed in a document filed with the SEC, which can be accessed through the SEC website.

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

• On Wednesday, November 11th, Bin Zhao purchased 8,420 shares of Agora stock. The shares were bought at an average cost of $4.33 per share, with a total value of $36,458.60.
• On Monday, November 9th, Bin Zhao purchased 9,464 shares of Agora stock. The stock was purchased at an average price of $4.29 per share, with a total value of $40,600.56.
• On Friday, November 6th, Bin Zhao purchased 8,966 shares of Agora stock. The stock was purchased at an average price of $4.20 per share, with a total value of $37,657.20.
• On Thursday, November 5th, Bin Zhao acquired 9,699 shares of Agora stock. The stock was purchased at an average cost of $4.33 per share, for a total transaction of $41,996.67.
• On Tuesday, November 3rd, Bin Zhao acquired 10,000 shares of Agora stock. The shares were purchased at an average price of $4.16 per share, for a total transaction of $41,600.00.
• On Monday, November 2nd, Bin Zhao bought 9,478 shares of Agora stock. The shares were purchased at an average cost of $4.37 per share, with a total value of $41,418.86.
• On Friday, October 30th, Bin Zhao bought 9,095 shares of Agora stock. The stock was purchased at an average price of $4.38 per share, with a total value of $39,836.10.
• On Thursday, October 29th, Bin Zhao purchased 9,429 shares of Agora stock. The shares were purchased at an average cost of $4.45 per share, for a total transaction of $41,959.05.
• On Wednesday, October 28th, Bin Zhao purchased 9,549 shares of Agora stock. The shares were purchased at an average cost of $4.47 per share, for a total transaction of $42,684.03.
• On Tuesday, October 27th, Bin Zhao purchased 3,000 shares of Agora stock. The shares were purchased at an average price of $4.47 per share, for a total transaction of $13,410.00.

Agora Stock Performance

API stock opened at $4.32 on Thursday. Agora, Inc. Sponsored ADR has a 1-year low of $3.14 and a 1-year high of $5.49. The business has a 50-day moving average price of $4.24 and a 200 day moving average price of $4.15. The company has a market capitalization of $377.22 million, a P/E ratio of 39.28 and a beta of 0.88. 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 issued its earnings results on Thursday, August 13th. The company reported $0.02 earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.20) by $0.22. The company had revenue of $40.42 million for 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%. As a group, equities research analysts forecast that Agora, Inc. Sponsored ADR will post 0.14 EPS for the current fiscal year.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently modified their holdings of the company. AXQ Capital LP purchased a new position in Agora in the second quarter worth $55,000. Public Employees Retirement System of Ohio purchased a new stake in shares of Agora in the 2nd quarter valued at $101,000. Headlands Technologies LLC grew its position in 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 buying an additional 10,021 shares during the period. Finally, Allspring Global Investments Holdings LLC grew its holdings in Agora by 1.0% in the third quarter. Allspring Global Investments Holdings LLC now owns 1,801,785 shares of the company’s stock valued at $7,531,000 after purchasing an additional 18,000 shares during the period. Hedge funds and other institutional investors own 40.40% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities analysts have recently issued reports on the stock. Bank of America increased their price objective on shares of Agora from $6.60 to $6.80 and gave the company a “buy” rating in a research note on Friday, August 14th. Weiss Ratings upgraded Agora from a “hold (c-)” rating to a “hold (c)” rating in a report on Friday, October 9th. Finally, Wall Street Zen cut 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 issued a Hold rating to the company. According to MarketBeat, the company currently has an average rating of “Hold” and an average price target of $6.80.

About Agora

Agora, Inc. provides cloud software and developer tools for real-time engagement. Its platform offers application programming interfaces and software development kits that let businesses add voice and video communication, interactive live streaming, messaging and signaling to their applications. The company serves developers and organizations across a range of industries and markets worldwide. Its products are designed to support interactive experiences such as in-app calls, online events and real-time collaboration.