Agora, Inc. (NASDAQ:API) Shares Sold by Allspring Global Investments Holdings LLC

Allspring Global Investments Holdings LLC decreased its holdings in shares of Agora, Inc. (NASDAQ:API) by 9.9% during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 2,477,609 shares of the company’s stock after selling 273,000 shares during the period. Allspring Global Investments Holdings LLC’s holdings in Agora were worth $10,307,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in API. Connor Clark & Lunn Investment Management Ltd. purchased a new stake in Agora in the 3rd quarter valued at approximately $28,000. Clearline Capital LP lifted its stake in shares of Agora by 4.0% during the 3rd quarter. Clearline Capital LP now owns 127,974 shares of the company’s stock worth $308,000 after purchasing an additional 4,975 shares during the period. Harber Asset Management LLC lifted its stake in shares of Agora by 6.1% during the 3rd quarter. Harber Asset Management LLC now owns 2,141,000 shares of the company’s stock worth $5,160,000 after purchasing an additional 123,523 shares during the period. Quadrature Capital Ltd purchased a new position in shares of Agora during the 3rd quarter worth $27,000. Finally, JPMorgan Chase & Co. lifted its stake in shares of Agora by 0.5% during the 3rd quarter. JPMorgan Chase & Co. now owns 610,457 shares of the company’s stock worth $1,471,000 after purchasing an additional 2,791 shares during the period. Institutional investors and hedge funds own 40.40% of the company’s stock.

Analysts Set New Price Targets

Separately, Bank of America raised Agora from a “neutral” rating to a “buy” rating and increased their price target for the stock from $3.10 to $6.00 in a research note on Thursday, January 16th.

Agora Trading Down 3.9 %

API stock opened at $5.74 on Wednesday. The company has a market cap of $529.23 million, a price-to-earnings ratio of -11.71, a PEG ratio of 4.34 and a beta of 0.38. The company has a quick ratio of 6.15, a current ratio of 6.15 and a debt-to-equity ratio of 0.06. The business has a fifty day simple moving average of $4.92 and a 200-day simple moving average of $3.79. Agora, Inc. has a 52 week low of $1.65 and a 52 week high of $6.89.

Agora (NASDAQ:API) last released its quarterly earnings data on Monday, November 25th. The company reported ($0.26) EPS for the quarter. Agora had a negative return on equity of 7.70% and a negative net margin of 33.74%. During the same period last year, the company earned ($0.23) EPS. On average, equities research analysts expect that Agora, Inc. will post -0.4 EPS for the current year.

Agora Company Profile

Agora, Inc operates in real-time engagement technology business in the People's Republic of China, the United States, and internationally. The company offers real-time engagement platform-as-a-services providing developers with application programming interfaces to embed real-time voice, video, interactive live-streaming, chat, whiteboard, and artificial intelligence capabilities into their applications.